What did the EU Gender Directive aim to eliminate?

Prepare for the CII Certificate in Insurance - Financial Protection (R05) Exam. Use engaging flashcards and multiple-choice questions with detailed explanations and hints. Ace your exam now!

The EU Gender Directive specifically aimed to eliminate gender-based pricing in insurance contracts. This directive established the principle that insurance companies could not use gender as a factor in determining premiums or benefits. This was crucial in addressing the disparities and unfair treatment faced by individuals based on their gender, particularly in areas like health and life insurance where rates could differ significantly between men and women.

The elimination of gender-based pricing was part of a broader commitment to promoting equality and non-discrimination within the EU. By prohibiting this practice, the directive sought to ensure that individuals are treated fairly and that their insurance costs are not disproportionately affected by their gender. This change is significant in fostering a more equitable financial services industry, where personal characteristics should not dictate the cost of essential services like insurance.

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