5 Factors That Will Affect Your Life Insurance Policy Quote

Shopping for life insurance is a great first step towards financially protecting your loved ones in the event of your passing. Since there are many factors that determine how much you will pay for the premium, understanding what goes into your insurance quote can help you better understand how the provider came to a price. Here is a look at five key factors that will affect your quote.

Life Insurance

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1. Medical History

One of the ways providers assess risk is to delve into your medical history. If you have had previous health problems such as high blood pressure, diabetes or high cholesterol, your provider will likely charge you more for the premium compared to if you have had a history free of chronic conditions.

2. Age

Age plays a primary role because the older you are the riskier you are to the insurance company. Ideally, the younger you are able to purchase insurance the better because provided you don’t have a poor medical history, you will pay less for coverage.

3. Gender

Investopedia reports that women on average live five years longer than men. With this in mind, males typically pay a higher premium based on these averages.

4. Habits

If you enjoy riskier activities such as rock climbing, bungee jumping or skiing on advanced courses, then you will pay more for life insurance. The reason for this is when you participate in high risk activities, you elevate your risk in the provider’s mind.

5. Smoking

If you smoke, Investopedia states you’ll pay as much as twice the amount nonsmokers pay for the same premium.

To learn more about life insurance policies feel free to contact the Schumacher Insurance Agency. Our knowledgeable agents can help you choose the best policy to protect you and your family.


About Schumacher Insurance Agency

Why trust us? What do we do different than every other insurance agency? Consider this an invitation to get to know us. We believe we are an exceptional team of protection specialists that work hard to do things the right way, to educate our clients on insurance, and make the experience effortless. We are excited to introduce a new insurance experience for our customers. We encourage you to speak with our team who can show you how different we are… from text messaging services for late payments to educational insurance concepts on Facebook. We will prove our innovative approaches to obtain the proper coverage’s for you, your family, your business. Insurance is likely not the most interesting affair for everyone, but it is most certainly ours! Yes, we are insurance geeks!

Posted on July 28, 2015, in Agency, Uncategorized. Bookmark the permalink. Leave a comment.

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