When looking for life insurance, you are probably curious to know how much it will cost you. In order to get a better idea of how much the coverage will be, you must know different factors that contribute to the price of life insurance.
The following factors are big in determining your life insurance and rates:
Age– The most significant factor in regards to life insurance is your age. The younger you are, the less likely you are to pass away. Therefore, younger individuals get lower insurance rates. Purchasing your life insurance at a younger age is highly recommended if you want to save money.
Weight– Being overweight correlates to a higher risk of health issues, so if you are overweight or obese, your life insurance policy may cost more.
Current health– A medical exam is required when applying for life insurance, in order to identify any health risks or signs of potential problems. The results given from the exam will contribute to determining your coverage.
Health history– An examination of your medical records will identify if you have had any serious health risks or issues. Your medical history is looked at to determine if you are at risk with any major health problems in the future.
Gender– Statistics show that women normally live longer than men, and this statistic typically results in women receiving lower life insurance rates.
Occupation– Having a job that requires you to perform duties that are considered dangerous will be viewed as your life being put at a higher risk. This will ultimately result in you receiving higher insurance rates. You will most likely have higher rates if you work a job with duties that could result in long-term health effects.
To find out more information on life insurance, contact us at Brazelton insurance Group today.