Scottish Provident also found that both men and women have increased the amount they typically insure themselves for in the past year.
Worryingly the research also revealed a widening gap in the amount people insure themselves for as they get older with men in their 60s having three times as much cover in place as their female counterparts.
Jennifer Gilchrist, senior product development manager at Scottish Provident, said: “In 2012 at most ages we saw a healthy increase in the average sum assured for both men and women compared to 2011.
“However it is disappointing that in all but the 60s age range the gulf between men and women has continued to widen.
“This is especially so when so much effort was put into marketing towards women prior to the implementation of the EU gender directive.”
The impact of the EU gender directive on buying behaviour is however highlighted by sales figures reported by Scottish Provident.
A breakdown of the sales figures in December highlighted the considerable increase in the number of women buying life policies with a 95% increase year on year for Scottish Provident.
Gilchrist added “It is important that both men and women look to protect their family’s futures by making sure they take out sufficient cover to look after them.
“We may have succeeded in persuading more women to take out life assurance than before but these figures show they still don’t have enough.
“We need to consider how we reinforce these messages so that women truly understand their financial worth.”