Zurich releases gender repricing plan

Zurich has announced its dates for the implementation of gender neutral pricing for UK Life customers taking out new protection policies.

The following dates will apply:

• 10 December 2012 - gender neutral pricing takes effect for Zurich's Adaptable Life Plan (whole of life) guaranteed rates and Income Protection Plan

• 17 December 2012 - gender neutral pricing takes effect for Zurich's Level Protection and Decreasing Mortgage Cover plan

Applications submitted before these dates will be issued on gender specific rates up until close of business on 20 December 2012.

Zurich added that it would be undertaking a number of initiatives aimed at giving customers and advisers opportunity to have policies issued on gender specific rates before 20 December 2012.

Applications not fully processed by 20 December 2012 will be automatically issued on gender neutral rates, assuming the customer and adviser are happy to proceed with the new premium.

Peter Hamilton Zurich's head of protection for UK Life said: "The majority of our protection policies submitted online get an instant decision, and we will do all we can to ensure that customers have cover in place on gender specific rates before 20 December 2012.

"From October 2012, the acknowledgement packs we send to customers who apply for a protection plan will include additional information reinforcing the importance of the 20 December deadline, providing guidance on how they can help speed up the application process."

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