Over 80% of women are completely unaware of the forthcoming introduction of the European Gender Directive this year, research by London & Country Mortgages has found.
The directive comes into force on 21 December – which some have dubbed ‘G-Day’ and will ban insurance pricing based on gender, forcing insurers to charge men and women the same amount.
London & Country conducted an online survey of 811 women to gauge their views and awareness of the European Gender Directive.
Women currently pay less than men for their life and critical illness cover due to their longer life expectancy but the Directive is likely to push the cost up.
Although awareness of the Directive was low, over 82% of those surveyed believed the impact to be increased costs. However, 49% thought that equalising the price for men and women was a good thing.
London & Country Mortgages says it is estimated that women could see an increase of 15%.
David Hollingworth, associate director at London & Country, said: “It’s important that women are aware that the cost of cover will soon increase and take the opportunity to buy or review policies before the price hike takes effect.
“With 36% of respondents and more than 41% of their partners having no cover at all, the time is right to review you and your family’s protection and avoiding unnecessary additional cost.”
