Female insurance premiums are more expensive than males because the former statistically live longer. Is there really a biological correlation between gender and life expectancy? If not, is it fair?

I always like to joke to my clients that its because women have more "spare parts" like reproductive system, therefore for critical illness/illness related plans, women pay more. For death coverage plan, men pay more because male life expectancy is shorter.​​​

Hi Anon, yes statiscally, females do live longer and develop more health conditions then men do. Singapore's life expectancy for males stand at around 81.2 years old and females closer to 85.4 years old.

This means that death coverage for males is actually more expensive due to shorter lifespans, but critical illness coverage and disability coverage is more expensive for females.

Insurance is only priced on statistics and risk and if the numbers reflect this, it'll be highlighted in the premiums. With higher chance to claim, it'll be more expensive. There's not really a choice here.

For smokers and heavy alcohol consumers, there's an extra risk premium included via smoking rates or premium loading, thus a distinction. And the non smoker males and females are excluded from the risk calculation of the smokers.