New Gender Rules Loom for Life Insurance Shoppers
LONDON, December 20, 2012 /PRNewswire/ --
The insurance industry is set for a major overhaul in two weeks' time. On the 21st December the gender gap will be closed and members of both sexes will be subject to the same mathematics when it comes to calculating premiums. The team at Lifebroker is urging women to take action quickly if they are considering taking out life insurance or renewing a policy.
Time is running out for women to take advantage of the fact that insurance policies have traditionally been cheaper for women than for their male counterparts. This is not something endemic to life insurance, but also applies to other forms of insurance like car insurance and critical illness protection.
In the next two weeks, insurers expect to see a rise in inquiries from women keen to avoid the hike in prices that the rule change will usher in. EU regulations specify that insurance companies can no longer offer cheaper policies to some on the grounds of gender and this inevitably means that prices will rise for women. It is expected that premiums will also rise for male customers.
Lifebroker compares life insurance quotes for Internet users keen on finding the best value in the market. Now is the time for women to compare the market in order to discover which insurers have already altered their pricing structures and which are pushing cheaper policies for women while there is still time.
Christmas is a busy time and shopping for life insurance may seem like an additional chore, but comparison websites offer a very quick and easy method of shopping around for a good deal. Those interested in learning more about the various types of life insurance out there can visit the Lifebroker team at http://www.lifebroker.co.uk.