How does gender affect life insurance costs in Nevada?

Life insurance carriers in Nevada—and nationwide—price policies based on actuarial data that shows women have longer average life expectancies than men. As a result, women generally pay less than men for the same coverage amount, term, and health class.

The gender premium difference is most pronounced for younger applicants, where the divergence in life expectancy statistics is more significant to actuarial calculations. The gap narrows somewhat at older ages.

Illustrative comparison for a healthy non-smoker with $500,000 of 20-year term coverage: Age 35 – Woman: $25–$40/month; Man: $30–$50/month. Difference: 15–25%. Age 45 – Woman: $60–$85/month; Man: $80–$110/month. Difference: 20–30%. Age 55 – Woman: $170–$250/month; Man: $250–$380/month. Difference: 30–50%.

Actual premiums vary by carrier and individual underwriting. The gender gap in pricing has narrowed somewhat in recent years as carriers refine mortality data, but it remains a consistent feature of life insurance pricing.

For couples making joint coverage decisions, the gender-based pricing difference is one consideration. A couple might choose a large policy on the higher-income spouse (who may be male and pay more) and a supplemental policy on the other spouse.

Nevada does not restrict gender-based pricing in life insurance underwriting, as actuarial differences in life expectancy are considered a legitimate rating factor under Nevada law.