Why is Life Insurance More Expensive for Men?

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Why is it that life insurance is more expensive for men than women?

The answer is pretty simple.

Men tend to take more risks with their lives than women and generally don’t take care of their health as well as women.

The statistics tell the story quite dramatically.  In 2010, the CDC (Center for Disease Control) reported that deaths from all age categories and for all causes show quite a discrepancy between the genders.

In 2010, the total number of accidental deaths for men from both accidents and disease for all age groups amounted to 11,288,114 deaths for males. For women, the total number of deaths in 2010 for all ages and causes was 7,266, 441.

The disparity is quite telling.  Needless to say, women also tend to live longer than men. The U.S. Census Bureau reported that in 2008, the average life of a female in the U.S. was 80.5 years of age while for men the average life span was 75.5 years of age.

Life insurance companies keep close track of these statistics and in great detail as they use these statistics in their analysis in how they determine the premiums they charge.

There are a lot of variables which are used by life insurance companies as they determine the probability of how long they expect you to live and they most certainly note the disparities of the life spans between the genders.

How Can a Man Save Money on Life Insurance?

It’s a bit tough going against the grain and save money on your life insurance if you’re a male, but there are some ways that can help save you a lot of money on your life insurance policy.

Here are some simple steps to show how a male can save money when they go to buy life insurance:

1. Buy Your Life Insurance Policy When You’re Younger

Regardless of gender, it’s a plain simple fact that life insurance is a lot cheaper to buy when you are younger.  Life insurance becomes exceedingly more expensive as you get older.  Since life insurance is a long term investment and something you will need, then the best approach is to buy it now while you’re still younger.

2. Use An Independent Insurance Agent

Using an independent agent such as myself is the best strategy to find cheaper life insurance rates.  Why?  The answer is simple really, because an independent agent has access to dozens of life insurance companies and can shop around to find competitive quotes for you. 

3. Take Better care of Yourself

Even if you are bit older, you can get a better rating and lower premiums if you are in better health. 

This does not mean you should put off getting life insurance until you improve your health, because if you need coverage now, then buy a policy now.  Even if you are a bit unhealthy now and a policy costs a bit more, you may be able to get a better rating and lower premiums when your health improves. continue page 2…….