Health-on-Line
- 6th Floor
- 80 Holdenhurst Road
- Bournemouth, Dorset, BH8 8AQ
- 100% of answers helpful
- 2 posts
Specialisms
Insurance:
General Insurance
Qualifications
Level A Qualifications:
Level B Qualifications:
What is cost difference for life insurance between men and women?
- financemum asked 1 year ago in Insurance
- See all 4 answers | report abuse
Expert Financial Adviser Answer
Madelin Talbot
answered 1 year ago
Generally when looking at term assurance, which is a type of life insurance, women are cheaper to insure than men as women have a longer life expectancy. However, if we look at critical illness cover then women are more expensive than men, as they are more likely to contract a serious illness.
Without knowing more specific details about the individual we couldn't give a precise cost different. However, running a quote with one insurer, based on a man and female of the same age, and looking for the same cover the woman is 38% cheaper to insure.
report abuse
Without knowing more specific details about the individual we couldn't give a precise cost different. However, running a quote with one insurer, based on a man and female of the same age, and looking for the same cover the woman is 38% cheaper to insure.
What is the insurance premium tax (IPT), and how does it impact insurance rates?
- althomson asked 1 year ago in Insurance
- See all 3 answers | report abuse
Expert Financial Adviser Answer
Paul Ross DipPFS CII(MP&ER)
answered 1 year ago
The government has increased the IPT rate for any cover that will become effective on or after 04 January 2011. The new rate of IPT will apply to new business, renewals and mid-term amendments, as shown below.
Categories IPT Pre 04/01/2011 IPT From 04/01/2011
Motor 5% 6%
Rescue 5% 6%
Home 5% 6%
Pet 5% 6%
Travel 17.5% 20%
report abuse
Categories IPT Pre 04/01/2011 IPT From 04/01/2011
Motor 5% 6%
Rescue 5% 6%
Home 5% 6%
Pet 5% 6%
Travel 17.5% 20%
