Scottish Provident is offering customers a window for last minute applications before the implementation of gender neutral premium pricing.

‘Initial cover’ is free and provides advisers and their clients with a grace period after the 20 December deadline to receive gender specific rates while a decision is being made on their application.

Most insurers require applications to be submitted and underwritten by 20 December in order to qualify for gender-specific pricing.

However, with it taking time to carry out medical examinations and receive a GP report, Scottish Provident believes that some customers may still find themselves missing out due to a time lapse on factors outside of their control. This is especially true for those with larger sums assured or more complicated cases that won’t go through straightforward underwriting, it claims.

Scottish Provident says that all those eligible who apply before the deadline will receive ‘initial cover’ at gender-specific rates until their application is completed, as long as the plan starts before 22 March 2013. After that date uncompleted applications will receive gender neutral rates.

The period of ‘Initial Cover’ extends from 20 December 2012 up to 22 March 2013 for applications in the pipeline received between 20 June and 20 December 2012 where Scottish Provident has not made a decision and communicated this to the IFA or customer. Where Scottish Provident has offered terms between 21 November and 20 December 2012, ‘Initial Cover’ will extend from 20 December 2012 until 19 January 2013.

Initial cover is only available to those not also applying to other insurers. It is also subject to maximum limits of: £15,000 per annum on income protection, £500,000 for life and £350,000 for critical illness cover

Roger Edwards, managing director of Scottish Provident said: “The clock is well and truly ticking for advisers and their clients seeking to benefit from gender-specific pricing ahead of the approaching deadline. However, even those who submit their application in good time may find that they are facing increased premiums.

“It can take time to gather all of the information required for an application – particularly if a GP report or medical examination is needed. We are mindful of the problems that could arise from delays in obtaining further information and want to offer consumers’ the fairest approach possible by extending the deadline to get their cover in place.”