Definition of "Sex discrimination"

Joseph Angley real estate agent

Written by

Joseph Angleyelite badge icon

Metro City Realty and Condos, Inc.

Classification of insured life and health risks based on the sex of the proposed insured. Gender has long been one of many factors in classifying, accepting, and rating risks. For example, because experience shows that women live longer than men, life insurance rates for women are lower. By the same token, annuity payments are lower for women because it is expected that they will be paid out for more years. On the other hand, women have sometimes paid lower rates for auto insurance. Insurance rating by sex became an issue in the early 1980s when many women charged that it was discriminatory. They demanded through unisex legislation to be rated no differently. Although insurers have resisted it, individual states have passed laws prohibiting the use of sex in risk classification.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Same as term Convention Examination: audit of the convention blank (NAIC Statement Blank) every third year as to all of the financial activities of a company; company claim practices; and ...

Common law rule of negligence that imposes liability on an individual who had one last opportunity to avoid an accident but did not take it. An example is a driver who could have avoided ...

Provision in most property insurance policies on real property that permits a policyholder to use an insured place for normal purposes related to occupancy. This might include storing ...

in health insurance, reimbursement for an insured's medically related expenses, including room and board, surgery, medicines,anesthetics, ambulance service to and from a hospital, ...

Indemnification for the loss of profits and the continuing fixed expenses. Business interruption insurance is available in these forms: contingent business interruption FORM, EXTRA EXPENSE ...

Clause, generally found in business interruption insurance, that establishes the same indemnification basis as the coinsurance clause. ...

Principle of equity in property, casualty, and health insurance. When two or more policies apply to the loss, each policy pays its part of the loss, unless its terms provide otherwise. For ...

Amount set up as a cushion against fluctuations in securities prices. ...

Rule that concerns the distribution of the aggregate surplus among the policies in the same proportion as each respective policy has contributed to the surplus. ...

Popular Insurance Questions