Bright Grey and Scottish Provident have announced their plan for Gender Directive pipeline business.
The insurers will give all qualifying applications in the pipeline ‘Initial Cover' which guarantees gender-specific pricing and give cover, within set limits, until the client extends the plan to the level they applied for. The final cut off point is 22 March 2013.
The contract will be fully legal offering gender-neutral rates up to the day before the deadline including; life cover, critical illness cover and income protection cover up to set limits.
Customers will have 30 days to accept the decision once underwriting plans are complete and on acceptance will be covered for the full cover applied for.
Roger Edwards, managing director of Bright Grey and Scottish Provident, said: "There's been an increasing level of nervousness in the market about arrangements for pipeline business, but we're pleased to announce an innovative solution that takes away any concern that clients will miss the deadline.
"There are obviously a number of challenges for advisers in the lead up to the new gender legislation but we're sure this special offer will give them and their clients the extra support needed to allow them to secure gender specific rates on their protection plans."
Edwards added it was a "tremendous opportunity" for adviser clients to benefit from pre-gender rates without the added pressure of medicals and doctor's reports all having to be present and complete.
"Just make sure that your clients' completed applications, including payment information, are with us by the 20 December," he said.
‘Initial Cover' is available for a maximum period of 92 days, which allows gender-specific rates to be applied to plans as long as the cover applied for starts within 30 days of terms being offered and within the 92 day period.
Any application changes made after 20 December will need to be re-quoted using gender-neutral rates. The insurers will process any applications still in the pipeline after 22 March 2013 on gender-neutral rates.