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HomeLife Insurance ResourcesMale vs Female Life Insurance Rates

One would expect that when it came to insurance products they would be equal for both genders. Many are quite surprised to find out that this is not the case. Those shopping for life insurance are often surprised. When the application asks what their gender is. Some feel that this is for identification purposes. Others realize that it’s because the insurance quote is going to be different. Depending on whether they are a man or woman.

It’s all About Risks

Every insurance company is going to look at what their life insurance risk factors are. This includes when they are looking at life insurance applicants. The insurance companies are looking to make a profit. They can only make a profit if their risks get lowered. Providing life insurance for either men or women means looking at the specific risks. The insurance companies are prepared to take this on. But they are going to look for ways that are going to help protect them.

Using Metrics

Insurance companies use many different metrics. To determine several things when it comes to their life insurance products. They will look at how much they are going to be able to charge. They will look at how much they are willing to give for coverage. To determine this, they have to use different metrics to help them lower their risks. For them to be able to do this they have to identify what the risks are first. When it comes to life insurance, they’re going to look at the different risks. That both male and female will present.


The insurance provider is going to put heavy emphasis on the lifespan of the individual. Those that they are going to insure. To help them determine this, they are going to look at different statistics. Many statistics show that for Canadians the average lifespan is going to be 81.1 years. It has always been assumed that women will live a bit longer than men. Some statistics are showing the difference between the lifespan of men and women is narrowing. What is also interesting is that it shows that this can differ among the provinces.

There is a possibility that insurance providers will also take this into account as well. Some statistical charts show the life expectancy by the province for males and females. For the country itself, it is expected that males have a life expectancy of 78.8 years. Compared to a woman at 83.3 years. How important this is going to be will depend on the insurance provider. If they are using these statistics as the main focus. Basing insurance on life expectancy. Then it will be important.


Another factor that is significantly different between men and women is their lifestyle. Particularly when it comes to their occupations. However, this has been changing over the years as well. In the past, it was accepted that men would fill more high-risk occupations. Compared to women. But there are many women that are also now involved in high-risk employment. It may be that rather than consider this according to gender they will look at it separately. As an employment or lifestyle issue.

It is also generally accepted that men may participate in riskier activities. Although women do as well. But again statistics show that men are more likely to enjoy these activities. It isn’t that they are looking to restrict life insurance based on this. But they will take it into an account as an increased risk for them.

Criminal Activities

Insurance companies are not going to look to deny someone insurance. Thinking they are criminals. However, they get concerned about criminal activities. This can create a risk for the insurance companies. Individuals that are more prone to becoming involved in a crime can end up in jail. Being in jail can have them in a high-risk environment. This indirectly affects the risk of the insurance companies. Statistics show that men are more likely to be involved in criminal activities. Compared to women.

How Much More Do Men Pay for Life Insurance?

The biggest gap is in life insurance. According to what the statistics show. As it pertains to gender. Stats also show that men can end up paying 25% more for life insurance compared to women.

How Can Men Lower Their Life Insurance Costs?

They are not likely to do anything about their gender. But there may be other things that they can do to help lower the cost difference. Aside from gender, there are many other metrics that insurance companies use. As it pertains to life insurance. One of these is going to be health factors. Individuals who smoke are automatically going to pay quite a bit more. For their life insurance.

A male that does not smoke can take advantage of this to help offset the extra cost he is paying for being a male. Even men that have smoked can still do something about this. Many insurance companies will lower the premiums for those that have quit smoking for at least a year. They may even lower it more for those that have gone two years or more. This alone can result in some significant savings.

The cost of the premiums also is going to depends on the type of life insurance that an individual is buying. Term life insurance has the cheapest form of premiums. Even though there may still be a difference between men and women. This may be an option for those that are on a budget and can’t afford to put too much out for insurance coverage.

Another very feasible option is taking the time to shop for life insurance properly. Too many people just accept the first price that they are given. Or go for the lowest premiums without delving into it further. Taking the proper time and doing research can make a big difference in insurance costs. These differences can offset the gap between the male and the female costs.

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