Factors That Affect Your Life Insurance Premium
When applying for life insurance, many people are surprised to find that premiums can vary widely from one individual to another. That’s because life insurance companies assess your risk level before deciding how much you’ll pay. Understanding the key factors that influence your life insurance premium can help you prepare for the application process and possibly lower your costs.
Your health and medical history also play a major role. Insurance providers look at your current health, past medical issues, and any ongoing conditions. Individuals with illnesses such as high blood pressure, diabetes, or a history of serious disease are likely to pay higher premiums due to the increased risk of early mortality.
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