The price you pay for your life insurance policy is determined by several different factors, including your own personal risk factors, and the type and amount of life insurance coverage you buy.
Permanent life insurance provides lifetime coverage and costs a lot more than term life insurance which provides temporary protection, usually for a period of up to 30 years.
In addition, Life insurance prices are based on your life expectancy, which means how long you are expected to live.
Your own personal risk factors will help to determine your life expectancy.
Some of the risk factors considered by insurers for life insurance applicants may include your age, gender, family health history, occupation, your health, hobbies, lifestyle, driving record, credit history, if you smoke or not, your height-to-weight ratio, among others.
Each of these factors will have an affect on your acceptance for coverage, and what price you will pay for your life insurance policy.
The healthier and younger you are when you buy a life insurance policy, the lower your cost of coverage.
Also, after you purchase your life insurance plan you may be able to request a re-rate after a year or two, if you have quit smoking, for instance, or lost weight when you were previously overweight, etc.
Here's how you can compare life insurance rates online among several highly-rated life insurance carriers.
Permanent life insurance provides lifetime coverage and costs a lot more than term life insurance which provides temporary protection, usually for a period of up to 30 years.
In addition, Life insurance prices are based on your life expectancy, which means how long you are expected to live.
Your own personal risk factors will help to determine your life expectancy.
Some of the risk factors considered by insurers for life insurance applicants may include your age, gender, family health history, occupation, your health, hobbies, lifestyle, driving record, credit history, if you smoke or not, your height-to-weight ratio, among others.
Each of these factors will have an affect on your acceptance for coverage, and what price you will pay for your life insurance policy.
The healthier and younger you are when you buy a life insurance policy, the lower your cost of coverage.
Also, after you purchase your life insurance plan you may be able to request a re-rate after a year or two, if you have quit smoking, for instance, or lost weight when you were previously overweight, etc.
Here's how you can compare life insurance rates online among several highly-rated life insurance carriers.
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