Why women pay higher CareShield Life premiums

Women do not always attract higher premiums, says Mr Andrew Yeo, NTUC Income's general manager for life and health insurance. They pay less than men for whole-life and term policies due to their longer life expectancy. This means a woman's probabilit
Women do not always attract higher premiums, says Mr Andrew Yeo, NTUC Income's general manager for life and health insurance. They pay less than men for whole-life and term policies due to their longer life expectancy. This means a woman's probability of claiming is lower than a man's.ST PHOTO: LIM YAOHUI

Insurance experts say pricing reflects longer female life expectancy, greater disability risk

Healthcare and the insurance that pays for it have long been hot topics here, so it is no surprise that CareShield Life has sparked much debate.

One gripe about the scheme, which will be compulsory for those aged between 30 and 40 by 2020, is that women will pay higher premiums.

TO READ THE FULL ARTICLE

Thank you for reading The Straits Times

You have reached one of our Premium stories. To continue reading, get access now or log in if you are a subscriber.

What is Premium?

A version of this article appeared in the print edition of The Sunday Times on July 22, 2018, with the headline 'Why women pay higher CareShield Life premiums'. Print Edition | Subscribe