Underwriter to track G-day hikes in sales

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An underwriting outsourcing company will be publishing updates on the number of female and male policies sold in the run up to the gender-neutral deadline and beyond.

MorganAsh said it will provide regular updates on changes to track any trends driven by the Gender Directive.

Andrew Gething, managing director of MorganAsh, said: "You should be able to see if there is any impact from the gender change.

"So is the worst happening in that more women are buying protection in the run up or will it all just stay exactly the same? My feeling is that I cannot see a massive change but who knows."

He added while it may not have much of an impact it was a good opportunity none-the-less for advisers.

Phil Brown, head of protection and underwriting of the UK Life Business at Zurich, said increased sales depended "entirely" on how pro-active advisers were.

He said: "The rates could be going up by as much as 25% and advisers have had a lot of support from providers to get out there with this.

"In the economic climate I can imagine we will not be seeing huge hikes but I expect there to be some uplift in the run up to the deadline and perhaps lower take up in the new year."

British Friendly recently reported that the incoming gender-neutral prices had not impacted income protection (IP) sales.

Steve Wanstall, head of sales at the IP specialist, said: "We have not seen a great deal of rushing to take advantage of the incoming deadline. We have not been inundated with people pushing IP because of the price factor."

 

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