Men have always grumbled that women get lower rates when it comes to insurance. Interestingly, health insurance differs as women get to pay higher rates than men. What could possibly be the reason?
Lets take some time to look at some facts.
Everywhere, there is a believe that women generally need to have more medical care than men. Lets look at the following reasons so I wouldn’t be accused of being anti-female.
Every normal female experiences menstrual cycle. This of course involves blood flow and some psychological effects. From a particular age to menopause, this cycle continues apart from during pregnancy. So how many years of blood flow are we talking about? Does this have any implication on the health needs of women generally? This is one issue.
2. Pregnancy. We are NOT referring to the special care a woman needs when she’s pregnant we are referring to its toll on the woman’s health long after delivery. And, if you consider that a good number of women have several pregnancies in their life time, you’ll see it makes sense that their bodies require more health care attention.
Now, we must understand that insurance companies, like every other business out there, are out to make a profit. Miss this important fact and you’ll wonder why a lot of things are the way they are.
To ensure that they make profit, they have studied and examined various cases to determine what group of people are likely to make more claims and how much is likely to be claimed.
Look at it this way. If a certain percentage of a group of insureds make a claim, their overall rate must be such that the insurance company would still make profit. For example, 1 out of 100 insureds make a claim of $ 1000 and the the insureds pay a rate of $ 100, the company would still make profit and can even afford to lower the rates.
So since women generally need to make more health insurance claims than men and therefore a higher amount, they are required by insures to pay more on their health insurance than their male counterparts.
So how do you still attract cheaper rates as a woman?
To get lower rates, women would need to consider the following.
1. Quit alcohol, smoking and the use of tobacco in any form.
2. Quit dangerous games and sports.
Avoid jobs that are hazardous to your health.
Lower your rates and increase your attraction by staying in shape.
5. Exercise regularly.
Try to be constantly happy. This will improve your health significantly.
Very importantly, get and compare quotes extensively before taking up a policy. you would be able to determine which is best for your situation.
Remember there are over 2,000 insurance carriers in the US alone. This means that you might have 2,000 different rates for your profile. Some will bill you more; some less.
Will you pay more or less? It depends on how many affordable health insurance quotes you get and how thoroughly you compare them. Compare health insurance rates today and save.