5 Things That Make Life Insurance Expensive!

The internet offers life insurance quotes for almost all policies, starting from term life insurance quotes to no exam life insurance quotes.  But they only present the average cost. The final cost will be determined after negotiations. Still, you may want to know these 5 things that make life insurance expensive:

searching life insurance at home1)     The age of the applicant.  Age is a very relevant factor and a higher age is correlated with a higher mortality risk. This means that senior citizens will have problems finding low price life insurance. If you are a senior, do not wait until you get old in order to sign in for life insurance. You will end up with unpleasant surprises.

2)     Health condition of the applicant.  Having poor health or a serious pre-existing medical condition will make the premiums more expensive. In some cases, health will make ineligible for many policies.  No medical exam life insurance is tolerant with those that present medical problems, but it is more expensive.

3)     Vices like smoking or drinking. Believe it or not, smoking and alcoholism are considered chronic diseases and insurers treat them accordingly. You will have to pay more if your internal organs were affected by these vices. In most cases, you will be asked to submit to some specific medical tests that are relevant for those conditions.

4)     Dangerous activities practiced by the applicant. Skydiving, bungee-jumping, scuba-diving and other similar activities are regarded as extreme.  If you are into those type of sports, well, we have bad news for you. Some insurers will ask if you practice these types of activities and if the answer is “yes”, you will be charged extra. Endangering your life is a certain way to make life insurance more expensive.

5)     Personal preferences of the applicant. Price is also influenced by your selection. If you want a bigger coverage, you will have to pay more costly premiums. Also, you have the option to add several riders, to make the policy more flexible and effective. These riders also increase the cost.

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