What are your thoughts on female insurance premiums are more expensive than males because the former statistically live longer. Is it fair?

Hi anon,

For death/TPD, statistically women live longer and thus premiums on death/TPD will be lower than that of males, regardless of whether you are talking about term or whole life.

However, this also means that the chances of contracting a CI are higher and thus CI premiums tend to be higher for women.

For long term care, women's premiums will also tend to be higher as they are likely to live longer than men if they are severely disabled.

Since insurance is a transfer of risk from the insured to the insurer, and the risks are higher for some categories and lower for others, it makes sense that the insurance premmiums are adjusted accordingly.

Hi Anon,

Health insurance premiums for females are more expensive than that of males due to the longer life expectancy of females. However, the pricing of the premium is fair because, females pay lesser for life insurance (E.g Term Life), because of longer life expectancy.