How much does life insurance cost?
- Posted by Roger Hendricks
- On 04/29/2016
- 0 Comments
The cost of life insurance will vary. From a broad perspective, it’s all about risk. The greater your risk of dying, the more you are likely to pay for life insurance. That’s why life insurance is relatively inexpensive to purchase when you are young and healthy. To determine your risk, underwriters look at such things as age, medical history, use of nicotine and alcohol, and any hazardous pastimes, such as skydiving. There are medical conditions that can cause the denial of an application, such as cancer, heart disease or dementia. For most types of coverage, your insurer will likely ask you to take a medical exam.What you pay for life insurance premiums can also depend on other things such as the type of policy you choose, the coverage amount and the number of years you need to have it in place. If you have riders, or customized provisions, added into your policy, those typically come at an extra cost.