The most common pricing factors for life insurance include:
- Your Age
- Your Gender
- Occupation and Hobbies
- Driving Record
- Height-to-Weight Ratio
- Tobacco Use
- Your Health
- Family Health History
Basically, these factors help the insurer determine your longevity, how long you are expected to live, and keep paying your premiums on your life insurance policy.
The younger and healthier you are, the lower your cost of coverage.
Make sure you compare pricing from several insurers to help you find the most affordable coverage, as rates do vary by insurer.
Here's how you can comparison shop for the best price on life insurance.