Cost of life cover for women up 25% after gender ruling

The cost of life insurance has jumped by as much as 25% for women, as a result of the EU gender directive.

According to a study carried out by Caledonian Life, the cost of premiums in life and mortgage protection cover for men has dropped over the last five years across the board. However, the cost of premiums for women has risen by as much as 25% in the same period

This is due to the impact of the EU gender directive, which came into force in December 2012 and states that premiums and benefits should not be different between two individuals for the same insurance policy, based solely on their gender. This had been one of the key bases of pricing life cover in the past.