Trade body Group Risk Development (Grid) is to submit a last minute submission to the Government in an attempt to get insurers and employers an exemption from retirement age legislation pertaining to protection products.
Grid will be submitting its case for an exemption, backed up with relevant research shortly before this Thursday's cut off, with a Government response expected in three weeks.
The ability of an employer to compulsorily retire employees at retirement age, currently 65, is to be removed in law in April 2011.
As a result, without an exemption, protection products offered to employees through their employers will have no expiry date, to do so would be deemed age discrimination, effectively pricing them out of the market.
Katharine Moxham, spokesperson for Grid, said she was hopeful of a positive outcome, adding: "We need to make sure the Government understands the consequences of removing retirement age. I would hope that common sense will prevail, after all the Government will be stopping its Employee Support Allowance at retirement age.
"We are confident the insurers will get an exemption but it is the employers that also need it in order to offer these products to their employees."
