Life Insurance Rate Factors?

What factors do insurance companies look at when deciding how much to charge me for life insurance?

There is several important factors insurers review when developing your rate for life insurance coverage.

Of course, the amount of life insurance will affect the cost of your policy. And, the amount of life insurance is a factor, as well as, your gender and health.

Actually, women pay less than men because they have a longer life expectancy on average.

In addition, insurers consider your personal risk factors unique to you, including your family health history, your occupation and hobbies, your height to weight ratio, use of tobacco, and your driving record, among other things.

Basically, the younger and healthier you are, the lower your rate for life insurance.

And, the higher the amount of life insurance you need, the higher the rate you will pay per $1,000 of life insurance coverage.

Keep in mind, if you wait too long, and try to purchase life insurance when you are older and have health issues, you may find life insurance to cost too much, or perhaps you may not be able to qualify to buy a policy.

However, there are guaranteed approval life insurance plans for people who have been turned down for life insurance.

Make sure you compare multiple life insurance rate quotes from several insurance companies to find the most affordable policy, because prices do vary from one insurance company to another.