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In previous articles the author showed the effects of age and marital status on the overall insurance prices of products offered to people, particularly those in the Chicago area. The author stated that Chicago has some dissimilarities from the general population when it comes to the sets of demographic data that are relevant to the insurance sector.

Gender in Life Insurance: There is adequate national data and research in the insurance writings which specifically show that females live beyond men by about seven years. Additionally, the mortality ratios among young males are little higher than females. The outcome of these mortality variations is significant lower life insurance 'costs' for females. Notice that we used the word 'cost' and not 'premium'. In universal life and whole life contracts, insurance companies charge additional premiums (not excess cost) which is basically the same amount for males and females as a "saving" attribute, not as cost of insurance. For this reason, the rate difference between males and females is more noticeable in term insurance policies.

There are no rate variances between men and women amongst the Chicago population and suburban and remainder of the State population with regards to life insurance contracts, or products that use mortality rates like fixed or variable annuities.

Sex in Health Insurance: Once again there are extensive studies that suggest that morbidity percentages among women are much higher than their men counterparts during the early stages of life. Then the percentages become comparable to men in middle age stages, eventually morbidity ratios start to drop even further compared to males in the advanced stages of life. Morbidity ratio is defined as the rate of ailing to healthful Individuals in the population. These variances in the morbidity ratios are evidenced with the same importance in the rates levied by the insurance company from customers.

A large number of people are unaware that most prominent insurance companies have imposed excess charges on the citizens of the City of Chicago for health insurance purposes. City of Chicago health insurance rates are routinely 10% to 25% greater than their suburban equivalents. Insurance companies claim that the extra charges are due to the higher cost of health care services in the City of Chicago.

Gender in Auto Insurance: Influence of sex difference on insurance prices is more prominent in the auto insurance industry. Women spend less than men for the same products, roughly 25% to 40% less for ages less than 25 years, depending on the precise age. The difference starts to vanish afterward age 25 years.

Chicago automobile insurance premiums for females are higher than their surrounding suburbs' equivalents because of the fact that the Illinois auto insurance rates are established by location.

Unisex Rates in Insurance: Various insurance companies avoid gender as a discriminating feature when dealing with business or group insurance (health, life or auto,) and instead they use Unisex Rates- same price for men or women. Some states including Massachusetts wanted to apply certain decision about the use of unisex rates. In the opinion of the author, unisex rates may just force the cost of insurance up. While women spend more for certain insurance products, they pay lesser for others. It doesn't make a sense to invest a lot in eliminating the current pricing processes and try to make up new ones and then have the customers bear the expense of this change when there is no substantial signal that unisex quoting techniques will ever save us any anything.