Premiums are priced on mortality data, and Indian women, on average, live longer than Indian men. A longer expected life lowers the chance of a claim during the policy term, the number of years the cover runs. So, the premium that you pay, and how often you pay it, usually comes out lower for a woman of the same age, health, and sum assured.
This gap should be treated as a reason to start earlier, not to buy smaller. On a level term plan, for instance, the premium stays fixed once the policy ...Read More