Men are from Mars and Women are from Venus. They are different in every way one can imagine; from the biology to the way their brain processes the information and the amount insurance companies ask them to pay as a premium! The premium of life insurance depends on various factors including age, income bracket, family and GENDER! Yes, depending on whether you are he or she, your insurance premium would change basis a number of reasons.
Find out why!
- A number of studies have pointed out that male members of any society have a shorter life span and life expectancy than women. This is a catch 22 for insurance companies and they compensate it with higher premium amounts. Can’t blame them, can we? It is all science, after all.
- Besides, men tend to stall the visits to a doctor until a health issue really becomes impossible to deal with. This also decreases their life expectancy significantly. If you think this makes women proactively getting insurance to secure their future, it definitely isn’t. Most of the stay-at-home moms even don’t have a basic insurance plan at the place.
- When it comes to the overall behavioural study of certain aspects, men tend to indulge themselves in risky occupations and sports that increase the risk for insurance companies quite considerably.
- When it comes to health, men are more prone to health ailments whereas cancers of the cervix and breast are more prevalent in women. Additionally, birth mortality and higher risks of osteoporosis make women more vulnerable. While the latter isn’t covered by insurance policies, it still is a factor that the curve starts leaning towards men.
- Men tend to be a soft target for depression and suicide. Women tend to think about a sane alternative when forced to choose either fight or flight. The hormone Oxytocin is largely responsible for that decreases anxiety in women and induces a calming effect on women, making them a better and safer option for insurance.