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LV= announces annuity gender pricing strategy

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LV= has announced its approach to gender-specific annuity business following an EU ruling which bans gender pricing for insurance contracts.

In March last year, the European Court of Justice ruled that insurers cannot price products based on gender from 21 December this year.

The move will force providers to radically alter the way they price annuities, life insurance, and health insurance.

In response to the decision, LV= is amending the point at which a contract is formed so advisers can obtain gender-specific annuity rates until 20 December.

Provided that LV= has received a completed and signed annuity application before midnight on 20 December, the quote will be honoured even if funds are received after 21 December.

Previously, the contract would have been formed when funds had been transferred to the provider.

LV= head of retirement propositions Philip Brown says: “Our solution means advisers can get more clients accepted on gender specific rates, before the deadline. We are giving advisers certainty that their clients won’t get stuck in the pipeline awaiting fund transfers and that they don’t have to complete within the 30 day quote guarantee period to hold on to gender specific terms.

“Accepting applications up until the last minute of 20 December, and being able to form a contract at that point, will give many more retirees the opportunity to receive a higher income in retirement.”


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  1. So if I get a completed application form in for my clients before 21st December, what they’re effectively saying they will honour gender specific rates indefinitely? Sounds great to me – might submit an app for myself!

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