Top 3 Reasons Why Life Insurance is Costlier for Men Than Women

​Are you one of those people who noticed that life insurance is costlier for men than for women? Well, there are several explanations for this, and this post will share the info to you. From shorter life span to higher risk lifestyles, here are the things that you need to know.

Shorter Life Span
Do you want to know what the World Health Organization says about life expectancy between men and women? As per their observation, women live longer than men across the globe. Typically, men can live as far as 75.9 years. On the other hand, most women can reach up to 80.5 years old. That being said, insurance companies have to cover the higher risk by charging higher insurance rates to men.

Now, you might ask this. Why is the lifespan of men shorter than women?  The following reasons will help you to realize.

More Dangerous Jobs
Many people in the world have to work to earn a living. If you have a family and raising children, you need to use your money wisely to ensure that you have a budget for the following:

• Mortgage
• Children’s education
• Family commodities
• Utility bills
• Expenditures linked to health concerns
• And, many more

Wives work to help their husbands making ends meet, especially if the person is a single mom. But, typically, the majority of the breadwinners are the husband. That being said, mothers take good care of their children while fathers work hard to bring a better life to the family. 

Most of the occupations of males are more dangerous than jobs suitable for females. For instance, if the husband is a roofing contractor, the risk of him getting injured is more likely than watering a garden.  That’s why most roofing contractors purchase insurance to safeguard them from unforeseen circumstances. There are other odd jobs that men do than what females do.

Moreover, if you have a job with risks and will purchase life insurance, you’ll be surprised that your premiums are higher than your wife, who is a stay-at-home parent. Here’s an explanation. The insurer sees that they might pay a claim sooner due to the risk linked to your job.

Higher Risk Lifestyles
More and more females are becoming outdoorsy these days. But, it’s still evident that males dominate when it comes to extreme adventures and risky lifestyles.  Again, due to risks, insurers offer higher premiums to males than females.

On a Side Note
Whether you are a male or female, the cost of insurance premiums depends on the risks you may face. Get the necessary life insurance plan now to secure the future of your family. A reliable insurance agent will explain to you the right policy comprehensively.

At Insurance Agency Network, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (425) 681-0996 or Click Here to request a free quote.