LV= will now switch its protection business to gender neutral rates on 10 December 2012, and is extending its ‘G Day Guarantee' to ensure all applications received before this date are processed on gender specific rates.
LV= is also extending its income protection sale, with all new quotes automatically reduced by 5% up to and including 9 December 2012.
The insurer said being able to move the G Day Guarantee date from 1 December to 9 December gives advisers even more time to get applications in on gender specific rates.
David Hollingworth, associate director, communications at London and Country, commented: "LV= has stood out as one of the providers that has really attempted to differentiate themselves on the issue of gender neutral rates.
"Extending the deadline on the G Day guarantee is another example of that and helping advisers remove uncertainty for their clients as we reach the home straight has to be welcome."
If an application is in the pipeline, and on 10 December has further medical evidence outstanding, LV= will guarantee the business can still be placed on gender specific rates.
Mark Jones, LV= Head of Protection said: "We have extended our ‘G Day Guarantee' to offer advisers what we believe is the strongest overall gender pipeline strategy in the market.
"Being able to extend our guarantee period avoids the difficult situation of having to tell clients they need to pay substantially more for the same policy if it isn't processed in time."
LV= recently launched a website dedicated to helping protection advisers ahead of the gender directive and I minus E tax changes. www.LV.com/nomoreguesswork
