Changes

Each of these Health Class health classes stated above have has been further categorized on the basis of smoking habits of an individual as follows:

===Premium charged by different insurance companies for “Non-Smokers” in for different health classes===

* AIG and Genworth charges charge the least premium for the '''Best and Preferred''' health class for both men ('''$168''') and women ('''$68'''); while Prudential charges the maximum pemium ( '''$120''' and '''$81''' for men and women respectively).* In the '''Standard Plus''' health class, Transamerica charges the least premium amount( '''$128''' ) for men while AIG and Genworth charges charge the least for women ( '''$93''' ). Prudential charges the maximum premium in this class also; '''21%''' higher for men and '''17%''' higher for women, respectively.* Similarly, in the '''Standard''' health class, while Transamerica charges least for men ('''$161''') , AIG charges least for women ('''$121'''). Prudential charges the maximum in this category too with '''$194''' for men ( '''+ 20%''' ) and '''$142''' for women ( '''+ 17%''' ).

* It is worth noticing that while premium charges for AIG increases increase by '''67%''' from Best to Standard class, the increase for Prudential is only '''62%'''. * '''''This indicates that AIG is more sensitive to health class classes than Prudential among Non-Smokers. However, Prudential may be termed as more risk-averse than the other insurance companies as the premium charged is maximum in all the health classes'''''.<br>

* Transamerica charges the least premium in all health classes except for the Standard Plus health class in which Prudential charges the least for men and in Standard health class in which AIG charges the least for women.* '''''For men, as the health class shifts from Best to Standard, the variation in premiums for companies become lessreduces.''''' The percentage variation between the minimum and maximum premium in the '''Best health class is 28%''' while it is only '''15% in Standard health class'''.* However, the same for women is 17% in the Best health class and 32% in the Standard health class. * Transamerica, the least premium charger increases its premium by 30% from the Best to the Standard health class while the highest premium charger Genworth has a increase of only 16% for the same. This may indicate that the '''risk appetite for Genworth is less'''. * The maximum difference between the premium charged for '''men is 49%''' while for '''women it is as high as 77%'''. This indicates that as the health category of women goes down the proportionate increase in premium is more than in case of men. So we can say insurance companies are '''more sensitive to the changes in the health condition conditions of women'''.<br>

* Transamerica charges the least premium in all health classes except for the Standard Plus health class in which Prudential charges the least and in Standard health class in which AIG charges the least for women.* ING seem to be very risk averse in this category for men as the premium charges for all health classes is among the highest at $413 ( except for the Standard Class in which Prudential charges a monthly premium of $414 ).

* In this category too, maximum difference between the premium charged for men is 49% while that for women is as high as 77%.<br>

* Prudential charges the least premium in all health classes. Genworth charges the maximum for men while ING charges the maximum for women in the Best and Preferred class while maximum premium charges for women in Standard Plus and Standard health class classes are same for three companies – Transamerica, ING and Genworth.* In the Standard Plus health class, all insurance companies except Prudential appears appear risk averse as their premium is on average 153% more than Prudential’s for men ($155). For women, the average premium charged is as high as 162% more than Prudential’s that charged by Prudential ($109).