Women charged less for loans and insurance to increase their "financial empowerment" and because "lenders usually consider women to be more reliable" and "better at managing money".

"However, lenders charge a lower interest rate from women for certain types of loans. “Some lenders charge lower rates on home loans, car loans and education loans to women borrowers or those with female co-applicants primarily for two reasons. First, it helps in increasing the financial empowerment of women. Second, lenders usually consider women to be more reliable when it comes to repaying loans and find them better at managing money. Hence, a woman as a loan’s primary applicant or co-applicant reduces the credit risk for the lender," said Binani"

Source and further information below:

https://www.google.com/amp/s/www.livemint.com/money/personal-finance/why-life-insurance-is-cheaper-for-women/amp-11583672906843.html