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Term Insurance Comparison by Age for Women Only
In general, average term life premiums for women are at least 30% lower than rates for men of the same age.
The root cause for lower female term life quotes is the fact that women live longer. This means that the average female policyholder pays premiums to the life insurance company for more years than men.
The longer payment period for a woman lowers the average annual premium required to pay out the same policy amount for men with shorter life spans.
Below are is a term insurance comparison of 20-year level term life rates for a million dollar policy. The quoted Canadian life insurance rates are for female non-smokers from ages 20 to 70. |
