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Factors that Can Affect Life Insurance Premiums

Life insurance is one of the best ways that you can protect your loved ones and make sure that they will be cared for once you are no longer here. Although this is a simple choice for many people, understanding how certain lifestyle choices that you make can affect your premiums can be a little more confusing. Life insurance is also about more than providing for your family once you are gone, it is also about having the option to allocate saved funds to your own care should you find yourself in a situation requiring specialized care which is often expensive. And knowing how to try and avoid these heightened premiums all together.


Preventative Measures

Many insurers will require a medical exam and access to your health records before they will deem you an acceptable candidate for their policy. A history of medical conditions, specifically serious ailments like heart disease or cancer will raise your premiums however those are diseases that are out of your control. There are other things that will be considered however that you do have some control over.

Weight, cholesterol levels, and blood pressure are common metrics used to determine premiums. While you cannot fight genetics, you certainly can learn healthy habits to keep these variables in check. If you dedicate yourself to taking some preventative measures now like diet, exercise, sleep, and stress management your aging body will thank you later.

You will notice clauses in your literature when selecting a life insurance policy that include options for adding long-term care insurance, and if your premium is expensive or not will be influenced by this choice. Determining if this is right for you or not does have a great deal to do with your financial situation since this is something that they have expensive premiums. But it also has to do with your medical history. Long-term care is typically added by people who have chronic illness that will eventually lead to their inevitable inability to care for themselves. However, take into consideration that if your lifestyle choices do not lend themselves to healthy living now, you may be putting yourself at a higher risk to not be able to care for yourself later.


Age and gender are two additional factors that can affect your premiums. The younger you are when you take out your policy the better you can expect your premiums to be. This is explained through the realization that the younger you are, the less likely the insurer is to have to pay out on your policy any time soon, so younger aged applicants are identified as safer bets for insurers.

Statistics regarding which gender typically lives longer will also play a part. This also goes back to how safe of an investment the insurance agency views you as. With women typically outliving men, their premiums are often cheaper because the insurance companies are relying on the statistics to postpone their payout if possible. While you cannot manipulate your gender to change your premiums you certainly can, and should, ask questions before making a final decision about what variables are in your control so that you are selecting a plan that best suits your goals for the future.

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