Friends Life has stated it will make gender-specific terms available for intermediary protection business up to the 20 December deadline after which the EU gender directive comes into effect.
It will also guarantee gender-specific pricing for policies submitted before 14 December and on risk by 20 December, using medical evidence available at the time.
Where further medical information is needed and is not available by 20 December, Friends Life will re-offer terms on a gender-neutral basis.
Terms must have been accepted and the policy must be on risk by 20 December for gender-specific terms to appl.
“We are taking a very clear approach to the EU gender directive which states that we must offer protection cover on a gender-neutral basis from 21 December,” said Steve Payne, managing director of protection at Friends Life.
“Our approach will provide advisers with a clear underwriting decision before the deadline so that they can actively manage the protection needs of their clients and provide as many customers as possible with the opportunity to select gender-specific rates from Friends Life.
“This does not mean that we will be able to offer gender-specific terms in every case as there are likely to be some instances where further information is required. However, we will do everything we can to get that additional information before the deadline to enable us to put a case on risk and I would urge advisers to make full use of the expert underwriting rules systems which can deliver up to 70% of decisions at the point of sale.
“For those cases where we need further clarification, advisers providing contact details for their clients and telling them that we might be contacting them will help to speed up the process.”
