What determines life insurance rates

The cost of life insurance can average more than $126 per month for a standard 20-year term policy. Insurers will primarily base your life insurance rate on your health and age. Some additional factors include your weight, whether you smoke, your occupation and even your family health history. Life insurance can be financial help for your loved ones once you're gone, but it's a big investment. Many factors contribute to how high your premium payment is and whether you qualify for discounts. There are two overall ways that determine the life insurance rates, one is broader and focuses on large internal factors of the insurer and the other has to do with individual qualifications. The two ways are factors on the insurance company side and other are factors associated with you, so let’s break each one down.

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