What factors affect the cost of life insurance?

What factors affect the cost of life insurance?

The cost of life insurance can be influenced by several factors, including age, health, lifestyle, and the type of policy you choose.

How does my age impact the premium?

Generally, younger individuals pay lower premiums because they are considered lower risk. As you age, the risk of health issues increases, leading to higher costs.

What about my health history?

Your health history plays a significant role. If you have pre-existing conditions or a family history of certain diseases, your premium may be higher.

Are there ways to lower my life insurance costs?

Yes, you can lower costs by maintaining a healthy lifestyle, shopping around for quotes, and considering term life insurance over whole life.

How often should I review my life insurance policy?

It's a good idea to review your policy every few years or after major life events, like marriage or having children, to ensure it meets your needs.