“Alongside the amount and length of cover, the Rates set by the insurance companies are what determine how much your life insurance costs.”
There are a number of different factors an insurer will use to calculate their rates, they are things that affect your life expectancy; they include:
Not all life insurance companies use the same rules to calculate their rates. Some may for example consider high blood pressure more of a risk than the next; in this case the former would offer insurance at a more expensive rate than the latter. It’s important to get quotes from the whole market; as we do, to see which company offers you then best rates… or premiums.
Here are some of the most common health conditions that may affect rates:
Yes. There are obviously things you can’t change such as age or medical history, however there are many things you can do to improve your health and potentially get life insurance premiums down; such as:
When calculating how much your life insurance costs, the insurance company will work out your Rates based on their estimate of your life expectancy.