Is it permitted to charge different rates for males and females based on distinct mortality tables?

The statement that it is not permitted to charge different rates for males and females based on distinct mortality tables is accurate because of regulatory mandates in many jurisdictions aimed at promoting gender equality in insurance pricing.

In many places, particularly where the Equal Credit Opportunity Act or similar gender discrimination laws are upheld, charging different rates based solely on gender is considered discriminatory. This means that insurers are generally not allowed to use gender as a factor for setting premium rates, especially in personal lines insurance such as life and health insurance.

Additionally, some jurisdictions have enacted legal statutes explicitly prohibiting the use of gender distinctions in pricing, leading to a standardized approach where all policyholders are charged based on their risk profile rather than their gender. This reflects a broader societal push towards eliminating gender biases in financial products and services.

In conclusion, the practice of charging different insurance rates based on distinct mortality tables for males and females does not align with the legal and ethical frameworks that govern personal lines insurance in many areas, thus reinforcing the correctness of this stance.