Insurance companies set premiums based on risk and on factors theyre allowed by law to take into consideration. Insurers cannot set premiums based on an applicants race or religion, for example. But insurance companies traditionally have tied gender to an applicant's risk, so it has often been a factor in setting premiums. Men generally pay higher life insurance premiums compared to women. Do you agree or disagree with this statement? Express your opinion on why there are different insurance premiums for men and women and justify your answer. Refer to real data on mortality rate (probability of death as listed in your textbook) and illustrate how the life insurance premiums could be different for men and women who have the same age (show your calculations).