How Life Insurance Benefits Differ Between Men & Women - Greyfont

How Life Insurance Benefits Differ Between Men & Women :

Gender based disparity is a reality in every sphere of life starting from education to wage gap  and even Life Insurance policies are not exempt from this rule.

We see hordes of Insurance Providers make a run to get more and more women to buy their Life Insurance Policies.  The pain point of sale is the lower amount of premium  to be paid by the women but then why the dichotomy of chasing  a consumer market that is not favourable?

It is the same reason that they are offered lower premiums- no, it’s not a propaganda against men but because women tend to outlive men, thus benefitting the insurance provider in the long run.

Reasons for Difference in Cost Of Life Insurance Policies For Men & Women:

1. Women Outlive Men

The same cardiovascular diseases that wreak havoc in any man post his 40s affects women post their 70s. Women tend to outlive men by 5 years on an average. For term insurance, the insurer is at less risk of paying a huge death benefit as the woman tends to outlive her coverage.

2. Men more prevalent in dangerous professions

Hazards befall men than women simply because of the manual based high risk professions that they are found. Women might have started to make inroads in all fields but firefighters, policemen, construction workers still tend to be comprised entirely of men, Higher injury risk as also accelerated rate of death predominate these professions.

3. Higher Risk Lifestyle

Generally, men have more proclivities towards dangerous recreation like paragliding, rock climbing etc. Adding to the shorter life span are the addictive life style that includes binge eating, smoking, drinking alcohol, consuming drugs, etc. Women indulge in all these too yet manage to outlive men.


Other than this, Women need higher protections in lieu of maternity, lower income and savings, unpaid domestic work as also several forms of cancer that affect them more than men. Investing in a Life Insurance Policy makes both men and women avail tax exemptions. One can avail deductions on premiums paid as per Section 80C of the Income Tax Act, 1961. The maximum tax benefit that can be availed is Rs 1.5 lakhs.

Professionals and homemakers alike it is high time women realize the necessity to secure their future and get covered by the right plan.


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