Mothers should consider taking out life insurance policies before the EU Gender Directive is introduced.
This policy is being signed into law from December 21st and it means that insurers will no longer be able to use gender – women have a higher life expectancy than men – as a contributory factor when offering a quote.
It is expected that females could see a 15 per cent hike on the cost of their next life insurance policy if it is taken out after this day, according to estimates by Scottish Provident.
Therefore, ladies are being encouraged to consider a cost-effective life insurance deal while they still can.
In March of 2011, the European Court of Justice ruled it was unfair that insurers are able to factor in gender to their prices, as it is a form of discrimination.
Earlier this year, Scottish Provident launched a campaign to make sure women were made aware of the change in the law.
Jennifer Gilchrist, senior product development manager at the firm, said: "The gender directive, which has serious implications on all insurance products, is set to bring the costs of protection for women up to the same level that men pay."