| Why Women Pay Far More And Advice For Cheaper Rates |
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| Written by Chimezirim Odimba |
| Saturday, 03 April 2010 17:07 |
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All other things being equal, a woman usually gets a lower rate for life and auto insurance policies. But with respect, to health insurance, women pay much more than men. This article examines the reasons for this and offers tips to help women attract cheaper rates.
All other things being equal, a woman usually gets a lower rate for life and auto insurance policies. But once it comes to health insurance, a woman will attract higher rates than a male counterpart. We'll look at the reasons behind this and also show ways they can reduce their rate without compromising coverage quality. First, let's examine the reasons why they pay more... If you grew up on a farm or have had experience with animal care, you'll agree that the females usually have a greater need for health care all other things being equal. Here are some reasons that make this also true of women in general... 1. A normal woman loses blood every month due to her monthly circle. How much toll it takes on the woman depends on each particular lady. But even for those who are undisturbed by the process, there's still the loss of blood. This process and the disturbance that some women experience once it starts necessitates more health care. 2. Women need more care due to pregnancy. A woman is seriously affected by each pregnancy although some apparently remain unchanged. Each pregnancy leaves the woman needing more health care attention. Yes, long after delivery. Now, we must understand that insurance companies, like every other business out there, are out to make a profit.Even the naive understands that insurance is a business and this means they are expected to turn a profit.It will be necessary to remind ourselves that insurance companies aren't charities. They are there to make some profits (Miss this important fact and you'll wonder why a lot of things are the way they are). To ensure they turn a profit, they have found a way of discovering how risky it is for them to give insurance to a particular group of people (referred to as a profile). If they discover that 1 out of every 350 persons within a particular profile must file a claim within a year that amounts to $5,000 in costs to them, they can meet their obligations and still make a profit if each person with that group pays $250 yearly. Although this is a simplistic explanation, it does show that once a profile is statistically proven to make a higher amount of claims, they'll get higher rates. Insurers have proof to show that they have more claims and higher claim amounts from the womenfolk. This invariably means that insurance companies will by default give you higher rates than a man of the same profile. But thankfully, there are several steps a woman can take to qualify for cheaper rates. TWhatever you do, don't joke with any of these if you really want to pay less... 1. You'll do yourself a world of good by quitting smoking, the use of tobacco in general and alcohol. 2. Quit dangerous games and sports. 3. Quit any job that exposes you to health hazards. 4. Make sure your BMI is right. You'll look and feel better if you maintain the right shape for you. 5. Exercising regularly is good for your health. 6. Be happy. Happy people fall ill less often. In fact there are health conditions that are caused by unresolved resentment, bitterness and worry. 7. Get and evaluate quotes from a good number of insurance carriers. Different carriers have different loss and claims histories. They also have very many different plans. Don't forget that the US has as many as 13,000 health plans. This means that you'd have to choose from as many as that number. Some will bill you more; some less. Will you be able to get a cheap plan that offers adequate coverage? Everything depends on how well you handle the quoting process. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. How much will you save? $100, $200, $300, $400 or even a lot more? Discover how much by getting and evaluating quotes at these sites: affordable health insurance quotes and low cost health insurance. Chimezirim Odimba writes on proven tips for savings on insurance. |