Guide · 5 min read
What Affects Life Insurance Rates?
The main factors carriers weigh when pricing a policy, and which ones you can still influence.
Age and health history
Age is the single most consistent pricing factor, and it only moves in one direction. Health history, current medications, and recent treatment also weigh heavily, and carriers differ in how strictly they view specific conditions.
Product type and coverage amount
Permanent coverage generally costs more per dollar of death benefit than term coverage because it is designed to last for life. Larger face amounts cost more in total, though the cost per thousand dollars of coverage sometimes improves at higher bands.
Tobacco use, lifestyle, and state
Tobacco and nicotine use typically place applicants in a separate rate class. Occupation, hazardous activities, driving record, and state availability can also affect what is offered. No agency can promise a specific rate before underwriting.
Keep reading
This article is general information, not insurance advice for your specific situation. Coverage, pricing, eligibility, and availability vary by state, carrier, product, age, health, and underwriting.