I've worked in the financial services industry for over 20 years, and during that time actuaries have always calculated premiums based on risk, using past claims experience and mortality/morbidity tables and a whole host of other probabilities (including smoking status, occupation, previous health and possibly family medical history). It is extremely complex, but it is done that way to ensure that the average person pays a fair premium based on the risk they represent.
The basics are that women generally live longer which means life assurance is cheaper, and annuities are more expensive. Women suffer more ill health than men, so long term income protection and critical illness cover is more expensive.
Typical EU meddling into areas where they should have no right.
Originally Posted by Englishman2010
