7 Factors That Affect Your Life Insurance Quote – Get our quote now

Life insurance is a great way to financially protect your loved ones, but it is also an important investment. Over a period of years, even a slightly lower premium can lead to big savings. Below are some of the major factors that insurers take into consideration when pricing their policies. Some of these criteria are beyond your control, while others are things that you can remedy with simple lifestyle choices. (For detailed information, read how to get life insurance.)

Key Takeaways

Life insurance can be financial help for your loved ones once you are gone, but it is a great investment. Many factors contribute to how high your premium payment is and whether you are eligible for discounts. Age is the most important factor in determining the cost, as a younger person will make payments for many years before cashing out; therefore, the younger you are, the lower your payments will be. Gender is also a crucial factor since women live statistically five years longer than men; as a result, insurance companies generally offer slightly lower premiums to women. Smoking, health, lifestyle, family history, and your resume are the other determinants of what you might expect to pay for life insurance.


Unsurprisingly, the number one factor behind life insurance premiums is the age of the insured. If you're young, chances are you'll be paying the insurer for years before they have to worry about writing a check to your family. Consequently, it is better to take out a policy before it is too late. But that doesn't mean you need insurance right after college if you don't have financial employees.


Next to age, gender is the main determinant of prices. Insurance companies use statistical models to approximate the duration of a person with a specific profile. The fact is that women live on average almost five years longer than men. And since they usually pay premiums for a longer period of time than males, they enjoy slightly lower rates. Sorry guys.

Life insurance quotes are based on several factors, some of which may be beyond your control; when looking for policies, consider the seven factors here and choose an insurer less likely to penalize those in your particular position.


Smoking exposes you to a greater risk for all types of health ailments. So if you like lighting up, it's a red flag for insurance companies. In fact, it is not uncommon for smokers to pay more than double that of non-smokers for comparable coverage. The effect on your wallet is another great reason to try to get rid of the habit.


The underwriting process for most carriers includes a medical examination where the company records height and weight, blood pressure, cholesterol and other key metrics. They may also require an electrocardiogram (ECG or ECG) to check the heart in some cases. It is important to manage any serious conditions such as high cholesterol and diabetes before seeking coverage to ensure a competitive rate. Some companies offer "no exam" policies, but you can expect to pay more.


Your favorite pastime racing cars or climbing treacherous mountains? In that case, you will probably have to shell out a lot more for insurance. Whenever you engage in high-risk activities, there is a greater chance that you will meet an anticipated end – a great concern for carriers. Some companies pay more even if you have a relatively dangerous profession, such as mining, fishing or transportation.

Family medical history

There isn't much you can do for your gene pool. However, a family history of stroke, cancer or other serious medical conditions can predispose you to these ailments and lead to higher rates. Carriers are generally interested in any conditions experienced by your parents or siblings, particularly if they contributed to an untimely death. Some managers place more emphasis on your family's health than others, but it's likely to impact your premium.

Driving record

It may be a surprise, but many life insurance companies look at your driving record during the underwriting process. Regardless of whether or not they ask for application violations, they can access the records of the Department of Motor Vehicles to find out if you've violated traffic laws. Keep in mind that the last 3-5 years have the greatest weight, so if you have improved your driving habits, you could benefit from a more favorable price.