Insurance Center

Ever wondered how they come up with your life insurance premiums?

Calculating life insurance premiums involves a lot of different factors. The life insurance company figures out what risks you may pose for the company. They will try to see if you have any conditions that may shorten your life. They try to be sure that you won't die prematurely. In the end, they want you to pay more than they pay out. The life insurance company uses your way of life to try to figure out the possibility of dying early that you pose to the company.

The life insurance company will want to know if you have any major diseases or ailments. Some existing medical conditions can worsen which could lead to a claim. The insurance company will take into account if you are obese, smoke, have diabetes, your cholesterol levels, and other things related to your lifestyle.

If you pose a risk for death, then your premium will be higher. If you have a dangerous job, like a worker in the oil fields, or free-fall out of planes, then your premiums will be higher. They also take into consideration the health history of your family. They will check to see whether or not any of them have died of a stroke, heart attack, or cancer.