Life Insurance Basics - What Affects The Price

Life insurance, more often than not, is a topic people technically want to avoid all together. But, in sake for our loved ones, it is something we recommend. With all that said, what affects the price?

​The following are just some of the common variables that determines the premium a holder will pay:

• Age - The older the individual, the higher the rate.
• Health- Health history and medical exam will help determine the rate.
• Term- The longer the term, the higher the risk for the carrier, the higher the rate.
• Coverage- The higher the coverage, the higher the risk for the carrier, the higher the rate.
• Hobbies- The more threatening the hobby (i.e. skydiving) the higher the rate.
• Driving Record - The safer the record, the lower the rate.