How does "gender" affect life insurance premiums?

Gender plays a significant role in determining life insurance premiums due to differences in statistical risk that insurers evaluate. Generally, women tend to live longer than men, which can lead insurance companies to charge lower premiums for women based on longevity. Conversely, men may have higher premiums due to their shorter average lifespan and the higher likelihood of certain health risks.

The underwriting process considers these demographic factors and helps create a risk profile for individuals seeking coverage. Therefore, gender is a critical element influencing the insurer's assessment of risk, resulting in distinctly different premium rates for men and women in life insurance policies. This distinction allows insurers to align premium pricing more accurately with expected lifetime risk and morbidity statistics associated with each gender.