What difficulties would be present in combining a group of men and women of the same...

What difficulties would be present in combining a group of men and women of the same age in the same life insurance pool?

Expert Solution

Men and women have different probabilities of getting some specific diseases. They both have different life expectancy as well. Hence the average number of claims would also be different for men and women.

If we combine men and women in same pool then we won't be able to accurately analyze the probabilities of number of claims made by this pool. Combining in same pool means that we would be treating them as equal with equal chances of making insurance claims which would be wrong approach.

orchestra answered 2 years ago

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