Gender Neutral Pricing For Life Insurance?

[…] Although the Colorado law banning gender-based premiums passed in 2010 and went into effect in 2011, it only applies to health insurance. Auto and life insurance policies have long considered gender when setting premiums, and they continue to do so.

But that is not the case everywhere. In a far-reaching ruling, the European Union’s high court handed down a ruling this week banning the use of gender-based pricing for all insurance contracts and pension plans. So life insurance premiums (and premiums on all other insurance contracts and pensions) in EU countries will have to be adjusted by the end of this year to reflect unified pricing for men and women.

Given the precedent set by the Colorado law regarding health insurance and now a large international ruling from the EU, it will be interesting to see if we eventually end up with gender neutral pricing for life insurance as well. Time will tell.