Why is life insurance cheaper for women?

Life insurance for women is generally less expensive because they have a longer average life span than men. Women are expected to live about five more years than men, which means that there is less likelihood that their life insurance policies will have to pay out before the policies lapse. With a term policy, the death benefit is available for only a certain number of years. Since women have a longer lifespan, they will more likely outlive their policies' terms. In many cases, men are the primary income earners for the household, which means that they typically purchase bigger policies than women do. Often, a man needs to purchase a policy to provide for his family in case he dies and the family loses its main source of income.

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