Last year, the European Court of Justice banned the practice of taking gender into account when setting insurance prices. So, as of December 2012, changes to insurance rates could mean that households could pay more for products like car insurance, annuities and life insurance.
So, while women have traditionally enjoyed lower costs, The Association of British Insurers (ABI) estimates that they could see up to a 20% increase in life insurance premiums – while men could see up to a 10% reduction.
What do you think of this new legislation? Should men and women pay the same for insurance? Tell us your thoughts below.