Gender is just one of the factors that determine your life insurance rates, though with all other things being equal, women pay slightly less for life insurance.
When you apply for life insurance, how much you pay depends on how risky the insurer thinks it is to insure you — i.e., how likely you are to die while your coverage is active. Because men have a shorter life expectancy than women, [1] they usually receive higher life insurance rates. In fact, women pay on average 24% less for life insurance than men.
However, gender isn’t the only factor insurers evaluate, and your medical history or lifestyle choices have a much bigger impact on how much you pay for coverage.
→ Learn more about life insurance statistics
Why gender affects your life insurance
Insurers have underwriting guidelines that they base your premiums on. They use a tool called an actuarial table to make these underwriting decisions, which lists someone’s chances of dying by age and sex and is based on historical data.
Historically, actuarial tables show that men usually die earlier than women. [2] [3]
More recent research suggests life expectancy by gender may be more nuanced, [4] but unfortunately, there isn’t currently enough data to change existing underwriting guidelines.
Male vs. female life insurance rates
The table below shows average monthly life insurance rates by age and coverage amount for a male and female with the same basic health and lifestyle backgrounds, in a Preferred health classification.
Age | Gender | $250,000 coverage amount | $500,000 coverage amount | $1 million coverage amount |
|---|---|---|---|---|
25 | Female | $14.39 | $21.01 | $32.53 |
Male | $17.26 | $27.13 | $43.73 | |
35 | Female | $16.71 | $25.76 | $42.01 |
Male | $18.88 | $30.79 | $51.05 | |
45 | Female | $28.90 | $48.43 | $86.32 |
Male | $35.84 | $61.49 | $112.47 | |
55 | Female | $61.86 | $111.35 | $206.69 |
Male | $84.59 | $153.76 | $281.13 |
Methodology: Average monthly estimated rates for male and female non-smokers in a Preferred health classification with a 20-year term length. Rates are based on the monthly Policygenius Life Insurance Price Index. Prices in the index are determined by internal actuarial rate tables for life insurance carriers that offer policies through the Policygenius marketplace: Banner Life, Brighthouse Financial, Corebridge Financial, Lincoln Financial, Foresters Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica. Illustration valid as of 07/01/2023.
→ See more life insurance rates for different ages and policy types
Life insurance rates for transgender or nonbinary applicants
Being transgender, nonbinary, or genderqueer may affect your application experience, but it shouldn’t have a noticeable impact on how much you pay. An insurer can’t increase your rates or deny you coverage due to your gender identity, hormone medications, or if you’ve had gender confirmation surgery (though they can postpone your application until after your surgery).
Policy premiums will not change for transgender people, but hormonal treatments and mental illness diagnoses such as depression – a prominent medical diagnosis amongst transgender people [5] – will be analyzed by underwriters just as they would be for cisgender applicants, and could affect your health rating and rates.
Life insurance and gender identity
Unfortunately, most insurers do not offer a gender-neutral option on the life insurance application. Some life insurance companies will underwrite you based on your actual gender, but many will only underwrite you based on the gender you were assigned at birth.
There are rarely concrete protocols at life insurance companies for working with transgender applicants. The way underwriters process your application and the documents they request from you could vary. While most of the paperwork you’ll be asked to supply is similar to that of cisgender people, some companies may ask you to share additional paperwork to demonstrate your gender expression.
A Policygenius agent can guide you toward an insurer that can handle your application with sensitivity and flexibility.
→ Learn more about applying for life insurance as a transgender person
Factors that affect the cost of life insurance for women
Gender-specific factors like pregnancy, ovarian or breast cancer, and menopause can impact women’s premiums and eligibility.
“While women tend to have longer life expectancies than men, allowing for lower life insurance prices by age, they will typically face some health risks that men don't and vice versa,” says Policygenius Sales Associate Elia Weg. "Women’s quotes are commonly affected by breast and reproductive cancers, hormonal disorders like PCOS, and pregnancy-related conditions like gestational diabetes, preeclampsia, and postpartum depression,” adds Weg.
Note that every life insurance application is considered on an individual basis, and any underwriter will also look at information like your age, overall health, and hobbies to determine your final premium.
Pregnancy
Applications from pregnant people in the first trimester are typically approved, but applications submitted in the third trimester are typically delayed until after birth due to the unpredictability of your health during this stage of pregnancy. (Purchasing life insurance before you’re pregnant can help secure policy approval and the best possible life insurance premiums.) Underwriters also consider fertility treatments of any kind to determine your premiums, a particularly important detail if you’re undergoing IVF treatment.
Side effects from pregnancy, such as weight gain, preeclampsia, gestational diabetes, and postpartum depression, will also delay your life insurance application until your complete recovery. Lasting side effects can influence your premiums. Insurance companies will also look at previous pregnancies to determine your risk.
Breast cancer and other gender-specific cancers
Underwriters examine your personal and family history of breast cancer, ovarian cancer, and uterine cancer alongside the rest of your medical history. If you are a woman with a family history of one of these gender-specific cancers, your health rating may be affected or you may even be denied coverage. Some insurers may even ask for mammograms or a BRCA gene mutation test, which determines if you have DNA mutations that increase your risk of breast cancer.
Traditional life insurance coverage is hard to acquire when going through cancer treatment. Most breast cancers are discovered in women ages 50 and older – another reason why it’s a good idea to purchase life insurance earlier. [6] After remission, any cancer history typically leads to a less favorable health classification from insurers, but there are some companies with more flexibility for cancer survivors.
Mental health & hormonal disorders
Women are more affected than men by certain mental health illnesses and some types of disorders are unique to women. [7] Depending on the insurer, mental health history can have an impact on the premiums you are offered. For example, a history of depression, bipolar disorder, or schizophrenia will likely lead to higher premiums.
Hormonal disorders, such as premenstrual dysphoric disorder (PMDD), won’t affect life insurance coverage, but the related symptoms, such as depression and anxiety, could. The side effects of treating a hormonal disorder can also affect how a life insurance application is assessed. For example, a medication used to treat endometriosis can sometimes lead to weight gain, which could be flagged as a concerning health condition on a life insurance application.
Best life insurance companies for women
We used industry data, pricing from Policygenius carrier partners, and third-party ratings like A.M. Best and J.D. Power to pick the best insurers on the market. Our independent recommendations will help you get life insurance coverage with confidence.
2023 Policygenius award winner
Corebridge Financial
4.6
30+ year terms
All 50 states
Why we chose it
With competitive pricing and a range of flexible term periods for its Select-a-Term product, Corebridge is a solid option for many life insurance shoppers. Note: We are currently using AIG’s financial strength ratings until Corebridge has its own rating..
Pros and cons
Pros
Competitive pricing for all ages
Favorable underwriting for people with heart conditions and diabetes
Good for current and recently pregnant people, including people with gestational diabetes
Cons
Not the best for people with mental health conditions, including anxiety and depression
No no-medical-exam term option
Corebridge Financial (formerly AIG Life & Retirement) can be one of the most-friendly carriers to pregnant applicants, considering applications well past when others will want to postpone until after the birth.
2023 Policygenius award winner
Lincoln Financial
4.8
No-medical-exam option
Why we chose it
Lincoln Financial offers a diverse array of life insurance policies, including competitive no-med and high-net-worth options.
Pros and cons
Pros
Affordable rates
Good for many existing health conditions, including depression, stroke, and heart conditions
Good for marijuana users, including daily users
Cons
Term life not available in New York
Lincoln Financial offers a wide array of policies for applicants who have had stage 0 or stage 1 cancer, including breast cancer, and have been in remission at least five years. Applicants with later-stage breast cancer can be approved after they have been in remission for five to 10 years.
2023 Policygenius award winner
Prudential
4.1
All 50 states
No-medical-exam option
Why we chose it
With nearly four million policyholders and 150 years to its name, Prudential offers competitive coverage options for seniors, as well as people with some of the most common medical conditions, including asthma, depression, and fibromyalgia.
Pros and cons
Pros
Good for people over 60
More flexible income requirements than some other insurers
Considers applicants with a variety of immigration statuses (visas and green cards)
Cons
Younger applicants will likely find better prices elsewhere
Prudential offers competitive rates for a number of women's health conditions, including PCOS, fibromyalgia, and depression.
Factors that affect the cost of life insurance for men
There are fewer male-specific factors that affect that cost of life insurance. Prostate cancer is the main one:
Prostate cancer and other gender specific cancers
Prostate cancer is the second most common cancer among men in the U.S. (skin cancer is the first). [8] Many insurance companies will want to know if you’ve had prostate cancer in your immediate family, and they may give you a higher rate if you do.
For men over 50 applying for life insurance, it’s very likely that a prostate-specific-antigen (PSA) test will be included in the blood test of your life insurance medical exam. (Prostate cancer is rare in men under 40.) Elevated PSA levels can indicate prostate cancer, though there are other causes. An elevated PSA level could result in higher life insurance rates.
If you’ve already been diagnosed with cancer of the prostate, you still may be able to get life insurance coverage. Insurance companies will want your treatment to be complete and your cancer to be in remission for at least one to three years.
Testicular cancer is another gender-specific cancer that insurers will be looking for in your family history. If you are a male applying for life insurance, a parent or sibling with testicular cancer can affect your health rating.
Avoiding the doctor
It's a well-known generalization that men don't like to go to the doctor, but unfortunately, it's also true: Two-thirds of men (65%) say they wait as long as possible to go to the doctor if they have symptoms or an injury. [9] This can be an issue when applying for life insurance if you have an outstanding request from your doctor to get a test or bloodwork done and you haven't done it. The insurance company will likely want to see the results of those tests before they underwrite your policy, which mean it will take you longer to get insured.
Best life insurance companies for men
Protective
4.8
30+ year terms
Why we chose it
Protective has some of the most affordable and comprehensive life insurance options available.
Pros and cons
Pros
Competitive rates for all ages and health classifications
Good for people with mental health conditions, kidney conditions, and some cancers, including prostate cancer
Term lengths up to 40 years
Cons
Not available in New York
Not great for people who have had bankruptcy, marijuana users, or visa holders
No no-medical-exam policy options
For men who have had prostate cancer, Protective is one of the best companies, offering policies to applicants in remission sooner than some competitors.
2023 Policygenius award winner
Brighthouse Financial
5.0
No-medical-exam option
Why we chose it
Brighthouse Financial offers competitive rates, comprehensive coverage, and application decisions in as little as 24 hours, making it a great choice for people who want to get life insurance coverage without having to take the medical exam.
Pros and cons
Pros
Extremely affordable
Instant-decision applications
Best-in-class no-exam option
Cons
Traditional term life not available in CA, IL, LA, ME, or NY
Term life applicants limited to ages 25-50
For men who want to avoid the life insurance medical exam, Brighthouse Financial offers competitive rates.
2023 Policygenius award winner
Lincoln Financial
4.8
No-medical-exam option
Why we chose it
Lincoln Financial offers a diverse array of life insurance policies, including competitive no-med and high-net-worth options.
Pros and cons
Pros
Affordable rates
Good for many existing health conditions, including depression, stroke, and heart conditions
Good for marijuana users, including daily users
Cons
Term life not available in New York
Lincoln Financial is another life insurance company that offers competitive no-medical exam policies to qualifying applicants.
Other factors that impact your life insurance rates
When life insurance companies evaluate your application, they’re looking at the entire picture of your health. Other factors that affect how much you pay include:
Age: The older you are when you apply, the higher your rates.
Family medical history: Conditions that can be inherited, like cancer, make you a riskier candidate in the eyes of life insurance companies.
Health history: Any pre-existing conditions and your treatment history are considered.
Lifestyle risks: You will pay more if you have habits with known health effects, like smoking. Policygenius data from May 2023 shows that a 35-year-old male who smokes tobacco would pay an average of $95.62 per month for a $500,000, 20-year term life insurance policy. A 35-year-old male non-smoker buying the same coverage would pay $30.79 monthly — more than three times less than the smoker.
Policy benefits: The longer your policy lasts or the higher your death benefit, the more coverage costs.
Risky activities: Hobbies or jobs that put you at bodily risk, like professional scuba diving, often lead to higher rates.
Anything else that impacts your health will likely have a larger effect on your rates than your gender.
While gender does play a role in your premiums, insurance companies set your rates based on your whole application. No matter your gender identity, comparing policies will give you the best chance of finding the coverage you need at the best possible price.
Frequently asked questions:
Does gender affect your life insurance rates?
Gender has a small impact on your rates, but your health history and lifestyle choices have much more weight.
Do men or women pay more for life insurance?
Men pay more for life insurance because they have a lower life expectancy than women.
Do you have to choose a gender when applying for life insurance?
Yes. Unfortunately, life insurance applications do not have a gender-neutral option at this time.
