Disability Insurance for Women | How to Avoid Spending Twice As Much As Men
Feb 15, 2015
Jamie Fleischner

Jamie Fleischner

15 Feb, 2015

If you are a woman shopping for an individual disability insurance policy, you may be in for sticker shock. Rates for disability insurance for women are close to twice as much as the rates for men.


Rates are set by the company based on risk and claims history.  Companies state that women become disabled more often than men and stay disabled for longer periods of time. As such, they charge higher premiums.

We did some digging around and women are disabled 12% more than men.  Still, they are paying 40 to 50% more than men.

What can women do to reduce these costs?

The most effective way for a woman to avoid paying the the additional premium is to look for a unisex discounted policy. A unisex policy offers the same rate for a woman as a man for the same coverage. This can increase the rate for a man if there is no additional discount attached. Most unisex rates have an additional discount on the policy. A unisex, discounted policy can save women between 55 and 70% on their premiums.

How do you go about finding a unisex rate?

1) Look for a brokerage such as Set for Life Insurance that already has a large portfolio of discounted rates. Once these discounts are in place, future clients at those employers will have access to those discounts through the Set for Life brokerage.

2) If discounts are not already set up, you may set them up if you have multiple (typically 3) people from the same place purchase a policy.

Here are a few things to look for in a unisex discounted policy:

1) Ensure the policy has a good definition of disability. If you are a dentistmedical resident, CRNA or physician, make sure it will pay benefits if you can’t work in your medical specialty.

2) The ideal type of policy is an adjustable contract. This will allow the discounts to apply to any future purchases if you are no longer at your discounted employer. If your policy is NOT adjustable, your initial policy may be at the unisex, discounted rate but any increases may be at the gender specific rate and could cost twice as much as the individual policy.

For more information about disability insurance for women, unisex discounted rates or to request a personalized quote comparison, contact Set for Life Insurance today!


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