Readers like you keep news free for everyone.

More than 5,000 readers have already pitched in to keep free access to The Journal.

For the price of one cup of coffee each week you can help keep paywalls away.

Support us today
Not now
Advertisement

Men reaping benefits of insurance gender directive – women not so much

Women who smoke, in particular, have been hit by the introduction of the directive with premiums between one and 25 per cent higher

Image: fingers image via Shutterstock

WOMEN ARE BEARING the brunt of the gender directive that was introduced in December 2012, while men see their premiums drop 30 per cent in the last five years.

The gender directive states that the sex of a person can no longer be taken into consideration when assessing customers. Analysis conducted by Caledonian Life has revealed that premiums in life and mortgage cover for men are dropping across all age brackets but it has all become more expensive for women.

Women who smoke, in particular, have been hit by the introduction of the directive with premiums between one and 25 per cent higher. Before the directive, a ten year analysis showed decreases across the board – for both men and women. However, men and women are now paying the same price for life cover, meaning an increase for females.

The data shows that even male smokers have seen a decrease of between 20 and 24 per cent in life cover in the last five years. Women in their 30s fare worst in mortgage protection with non-smokers seeing a 25 per cent rise in policy prices.

image

Click here if you have trouble viewing this image

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article.

Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

For the price of one cup of coffee each week you can make sure we can keep reliable, meaningful news open to everyone regardless of their ability to pay.

Caledonian said this news is “mixed” as it highlights the differences in pricing for men and women over the years and reveals that “males have definitely fared better in recent years with marked reductions”.

Read: Car insurance premiums for female drivers set to soar after December>

Read: Insurance levy on the horizon to help pay for flood repairs>

Read next:

COMMENTS (36)