Question

1. Why do life insurance companies often charge different rates for males and females?. 2. Who pays more by age, male or female, and why do you think this is so?

Answer 1

1. This is because women have longer life expectancy.

2. Men pay more as they age. Majority of mortality rates apply to men, because by statistics alone, men get into more trouble than women. This is why they tend to pay more, especially when they age.

Answer 2

I believe the answer is:

1. Because both males and females have different lives expectancy, and the rate of conducting risky activities also different between the two genders.

On average, female lives around 4.6 years longer compared to the male counterpart. This happen due to both biological reasons and due to the fact that Men on average have a more physically dangerous occupations compared to women (the majority of Police , Firefighters , Construction workers , and Miners are men)

2. It would be male

On average, men tend to pay 20% more compared to women. This happen because the activities that preferred by the women tend to resulted in more injuries. The number keep getting larger as they both got older. Before 40, average women pay $ 315 while average men pay $ 385. After 40, average women pay $ 495 while average men pay $ 620