Why Do Men Pay More For Life Insurance Then Women?
If you’re married and you’ve gotten life insurance quotes for you and your wife, you may be asking yourself – Why do men pay more than women for life insurance?
There are many reasons men may pay more for life insurance then women.
First, we need to understand what factors life insurance companies take into consideration and determining rates for life insurance protection.
There are many Factors that affect your Rates, including:
- Health – Mental and Physical
- Family history of health
- Smoker or Non-smoker
- On medication of any kind
- Driving Record
- Over weight
- Married or Single
These are some of the variables that insurers consider in developing your rates. Also, women have a longer life expectancy than men. So men will have higher rates based on the same age as a woman, because a man is expected to die sooner than a woman.
The insurance company has a higher risk, or greater chance of paying a life insurance claim for a man than for a woman if they are the same age.
In addition, men tend to have higher risk jobs than women, which increases the likelihood of a man dying at a younger age.
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