Factors That Affect Your Life Insurance Policy

life insurance factors

Ever wondered why life insurance premiums cost differently from person to person? It’s because insurance companies need to consider a lot of things before approving one’s policy, including a person’s health and age.

To give you a better understanding, we listed down six of the main factors that can affect your life insurance policy, its premium, and coverage:


Applying for a life insurance policy at a younger age will save you a lot of money. You see, insurance is a numbers game. The younger you are, the lower it cost. And the older you become, the more expensive it gets. Like most financial advisors say, you’re going to have a more difficult time getting covered at 65 years old than you will at 35.


According to statistic reports, women live an average of 5 years longer than men. Things like poor diet, smoking habits, and stress affect the male cardiovascular system early on in life, leading to the said age gap.


Some people love doing extreme sports. While others actually do it for a living such as those who teach the sports itself. However, high-risk professions and hobbies can affect the cost of your insurance premium — or sometimes, can make you ineligible for coverage.


Being a bit overweight can be hard on your body and on your life insurance policy. It makes you prone to a myriad of health problems including diabetes, hypertension, and heart disease. That’s why in most cases, policyholders who are overweight have prorated premiums. The good news though is that if they reached their ideal weight, the added rate would be reconsidered and removed.


Having health problems as well as history can affect the premium of your life insurance policy and your coverage. High cholesterol and high blood pressure are the most common health problems encountered by underwriters. These health issues are known to cause heart complications and even stroke. They can also be genetic, so it’s important to know your family history and take the proper preventive measures.    


Smoking is one of the biggest factors that can affect the premium cost of your life insurance. It’s possible that the healthiest smoker in a room will still have a higher life insurance premium than that of the unhealthiest non-smoker. That’s how much of a risk it is.

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