News of gender differentiated premiums for CareShield Life have sparked a hot debate. While industry professionals cited differences in risk between males and females as well as the importance of prioritising actuarial fairness, others felt that making women pay more just for living longer was outrageous. However, gender differentiating premiums are not a new phenomenon. In fact, several types of insurance policies follow this type of scheme. To this extent, we wanted to explore how other types of insurance stacks up in terms of pricing factors. Below, we explore the different types of insurance schemes that charge different premiums for males and females, as well as why these differences could exist.

Car Insurance Premiums Depend Not Only On Gender But Age

When people think of gender differentiating premiums, they most likely think of car insurance. It is a well known fact that males pay more than females due to …