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Deadline for reviewing your life insurance – especially for women

On 21st December, the EU Gender Directive comes into effect. This will mean that, and the figures are only a guide, term protection life cover costs for females will increase by about 20% and critical illness cover by about 10%.  However, men do not get away with it either – income protection for men could increase by 25%. 

All courtesy of European legislation and the ‘EU Gender-neutral Directive’. The fact that women live longer than men will no longer be reflected in cheaper life insurance costs. 

The message is clear: buy now or pay more later. Life insurance is cheaper than you think but won’t be at these rates for much longer. 

So if you want life cover and related plans, better to consider prices this year rather then next.

Note also that you may be able to pay the premiums through your company and effectively halve the cost.

Thanks to Jim Monger for alerting me to this deadline.

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