What Is The Reason For Life Insurance Having Lower Premiums For Women?

Is it true that life insurance for women cost less than life insurance for men? If so, what is the reason behind this?

Usually, women will get life insurance policies that cost less than men. Insurance companies use statistics to determine their rates. Statistically speaking, women tend to have a much longer life span than men. Because of this statistic, the likelihood that a death claim will have to be paid for women is much lower. Simply because of this reason insurance companies choose to insure women at a much lower rate than men.