What factors will have an affect on the price I pay for my life insurance coverage?

The type of life insurance plan and the amount of life insurance coverage you buy will have an affect on your overall premium.

In addition, your own personal risk factors will impact your rate for life insurance.

Risk factors are indicators of your longevity, how long you are expected to live. Each risk factors plays a part in determining your rate for life insurance. 

For instance, tobacco use is one main risk fa...
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When you buy a life insurance policy the insurance company bases your cost of coverage per $1,000 of life insurance on a rate they determine based on your age, health, type and amount of life insurance; as well as, other risk factors.

Your personal risk factors that affect your rate for life insurance may include your lifestyle, tobacco use, occupation, hobbies, driving record, height-to-weight ratio, and family health history, among other things.

These risk factors are considered by the insure...
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