Term Life Insurance: Gender Wars!

The difference in term life insurance rates by age and gender is obvious. Women cost less to insure, but they are less likely to have life insurance coverage. Why? Our guide finds the answer by investigating studies that look at the workforce differences between men and women and the false sense of financial security that comes from having the male spouse as the sole breadwinner. Read now for more information on term life insurance by gender and find coverage now for the women in your life with our free quote comparison tool below.

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Tim is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. He writes and creates stuff for QuickQuote and other insurance and financial websites.

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jul 19, 2021

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Over the past ten years, 63 percent of all term life insurance policies purchased through QuickQuote have insured the lives of men. That leaves a mere 37 percent of policies placed on the lives of women. That is quite a gender gap! Why such a large disparity?

Workforce Differences

A common misconception is there simply aren’t as many women in the workplace. Thus there is not as much urgency to insure them. While this may have been true 50 years ago, those days are long gone. This is one gender gap that is closing.

According to a report by the Majority Staff of the Joint Economic Committee, women comprised 49.8 percent of payroll employment in 2009, up from 44 percent in 1984. So women bring home the bacon, too! And in nearly 40 percent of households, they earn more than their spouse.

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Women Initiating Coverage on Spouses

One reason more men are insured could be due to women initiating coverage for them. Often men will apply for term life insurance because their spouse is ‘making them,’ or at least getting things started on their behalf. Kudos to these women for making sure their family is protected! Just remember, now is an excellent time to initiate coverage for yourself so your spouse can enjoy the same protection.

A False Sense of Financial Stability

Many men believe they would not suffer a financial hardship if their spouse passed away. This can be especially true of men whose wives do not work outside the home or do not have any income.

Even if your spouse doesn’t work outside the home or have an income, you will still very likely suffer financially without her. Take a moment to consider all of the duties you would either have to pay someone to perform or take on yourself:

  • Child Care – If you have young children, this could include daycare, after school care, babysitting, etc.
  • Housework – Cleaning, laundry, yard work. The list goes on.
  • Shopping – Groceries, clothes, medicines, etc.
  • Cooking – Preparing healthy and nutritious meals every day, plus snacks.
  • Doctor – Tending to your family’s minor medical emergencies.
  • Chauffeur – The many drives across town from activity to activity.

Now imagine yourself with all of these demands on top of your already busy schedule. Wouldn’t it be nice to afford help or at least be able to work fewer hours to spend more time with your children?

Women Cost Less to Insure

An excellent benefit for women is you are likely to pay less for your policy than your husband is! Take a look at these comparisons between female vs male life insurance premiums. The difference is quite significant, particularly for ages 50+.

Let’s make this gender gap trend with term life insurance coverage a thing of the past. Pledge to insure yourself or the women in your life today!

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