In most other cases of Insurance, women get the better deal. But Health insurance decides otherwise. We would try to examine why women tend to pay more in health insurance.
Lets look at some of these issues.
Women are generally thought to be more in need of health care than men. Why? Lets try to find out.
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. Are we considering the number of years if we were to count the blood flow in years? Does this have any implication on the health needs of women generally? This is one issue.
To look at more issues, women also give birth to children. The period of gestation takes its toll but more than this, the after effect of the different pregnancies must have some kind of effect on their bodies resulting in a higher need for health care.
Reminding ourselves that insurance companies are not government aid agencies but businesses out to make profit, we would see why they need to take a lot of factors into consideration.
The insurance companies are concerned about how many people are likely to make a claim from a group, the amount claimed and the consequences to their business.
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.
Following the above, we would see that since women are known to generally claim on their health insurance more than men, they would necessarily be required to pay higher rates than men.
Am I saying women can’t get affordable health insurance coverage? No!
With the suggestions enumerated below, you would be sure to get a more affordable health insurance coverage.
- Give up tobacco and smoking.
- Dangerous games and sports should be avoided.
- Any jobs that are hazardous should be avoided.
- Lower your rates and increase your attraction by staying in shape.
- A regular exercise routine is also necessary.
- Engage in things that make you happy as happy people are less likely to fall ill.
- Very importantly, get and compare quotes extensively before taking up a policy. You would be able to get very affordable health insurance coverage.
There are now so many companies providing health insurance so, you would surely have varying rates. So take your time and get the most affordable health insurance coverage.
Whether you pay more or less could be determined by the number of quotes you get. The more quotes you get, the more options you have.