Google Search
Healthinsuranceindia Web
Health Insurance Home Insurance Author Author Insurance Hospitals Hospitals India Insurance FAQ FAQs Disclaimer Insurance Disclaimer Acknowlegde Insurance Acknowledgement Insurance Quote Get Quote Insurance Query Query Insurance Feedback Feedback Contact Insurance Contact Us Insurance Blog Blog Health Insurance
Various health insurance companies who provide insurance in India. Get free health insurance quote today from best health insurance companies in India for your entire family insurance plans Get Cashless medical insurance hospitalizaton form most of insurance companies plan Free medical treatment during hospitalization Peace of mind with health insurance policy
For Comparative Insurance Quote: Om Plaza, 430/7, 1st Floor, Sant Nagar, East of Kailash, New Delhi-65
Phone: 011-41324957, 41623784, Mob:+91-8447757651 & 53 Email:
Blog -
Go to Main Blog Page
   Fair sex doesn’t get a discount from insurance company in india (Economics Times)
NEW DELHI: Life insurance companies in India make no distinction between men and women when it comes to charging premiums for the vast majority of insurance products, despite studies showing that women are outliving men — and living better.

According to data available with and, the country’s two major insurance portals, major insurers such as Life Insurance Corp (LIC), MetLife India, Aviva Life, Sahara India Life and Tata AIG Life charge both men and women same premiums for similar ages.

LIC, for instance, charges 40-year-old male and female customers a premium of Rs 6,463 a year for a 15-year term policy of Rs 10 lakh, according to, MetLife Insurance charges Rs 8,876 from 40-year-old men and women for 10-year, Rs 20 lakh policy. “If the experience doesn’t suggest a significant difference in mortality rates of men and women, the premium rates will be same,” says MetLife India Insurance MD Rajesh Relan, Metlife is not alone in adopting such an approach. Tata AIG Life too follows a similar policy, and says it is justified in view of the changing lifestyles.

“Today, the lives of men and women are no different. Therefore, there’s not much difference in the pricing of our products,” says Sitesh Prasad, vice president for accident & health at Tata AIG Life Insurance, adding, however, that his company did offer a “marginal advantage” to women based on life mortality data.

The fairer sex is not getting a fair deal despite conclusive evidence of higher life expectancy for women. Life expectancy of males in India is 63.87 years whereas females score 66.91 years, according to data available with the ministry of health and family welfare.

“A majority of women are non-smokers, which contributes to their longer life,” says SK Sethi, vice president and director of the Insurance Brokers Association of India. But while absence of distinction between men and women on premiums is the norm, some exceptions are emerging. Aviva Life says it offers women lower rates in case of its pure-protection product, Aviva Life Shield Plus, and charges less for certain unit-linked plans too.

LIC has an exclusive insurance product aimed at women — Jeevan Bharathi — and premiums charged are lower in this case than regular policies, says ED Rajesh Kandwal. However, such examples are few and some in the industry say it is also because of poor financial literacy standards. One insurance broker, who asked not be named, said companies charged both men and women equal premium because most women are unaware that once they reach the middle age, they carry lower risk and, hence, should be charged less.

Get Best Health Insurance Quotes
To eliminate spam, please add these numbers together before you submit:
4 + 3 = *
* required
Health Isurance
Health Insurance Family Floater Insurance Senior Citizen Insurance Senior Citizen Mediclaim RIA Insurance Website Sitemap Health Insurance RSS
Best View at 1024x768 Resolution
© 2013 Ria Insurance Brokers Pvt. Ltd. (An IRDA approved Insurance Broker in India)