Call Us 814-886-4021 ☰ ˟
Logo
Call Us 814-886-4021 814-948-8940
  • Home
  • Get a Quote
    • Automobile Insurance Home
    • Homeowners Insurance Quote
    • General Liability Insurance
  • Blog
  • Resources
    • Refer a Friend
    • Important Links
    • Insurance Glossary
  • About Us
    • About Us
    • Our Locations
    • Employee Directory
    • Customer Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Home > Blog > Is Life Insurance Expensive??
THURSDAY, DECEMBER 31, 2020

Is Life Insurance Expensive??

Is Life Insurance Expensive?

a close up of electronics 

Life insurance is an important form of coverage that can take care of your family once you are no longer able to do so. While it is important to get the right policy, it is also important to safe money on your life insurance.  

On average, life insurance is relatively inexpensive, although prices vary depending on multiple factors. Knowing what affects the cost of your life insurance policy can help up compare quotes and save money. 

Age 

Your age is one of the main factors when it comes to life insurance premiums. Since life insurance policies concern the lifespan of the insured, age can influence how much the life insurance policy costs. The older you are, the more you may pay for life insurance. 

Gender 

Since women statistically live longer than men, they may pay less for life insurance. This factor may not have as large of a bearing on your rates as age, but it can still influence your premiums. 

History of Health 

In many cases, having a history of health or medical conditions can affect your life insurance premiums. You cannot be denied life insurance due to your health history, however. Many insurers will require a medical exam for applicants. Factors such as high blood pressure may increase your insurance premiums. 

Habits and Hobbies 

Believe it or not, what you do for hobbies can also influence your life insurance rates. If you participate in high risk behaviors or habits such as smoking or skydiving, you will likely pay more for life insurance due to these facts decreasing your life expectancy. This also applies to your occupation. If your job is something high risk such as a pilot or professional driver, you may pay more for life insurance for others who work in different professions. 

Keep in mind that the policy itself can also influence the cost of your life insurance. There are multiple types of life insurance policies. The two main policies are whole life insurance and term life insurance. A whole life insurance policy covers an individual for their entire life. Some whole life insurance policies, called universal life insurance, also allow cash value withdraws while the policy is active. 

On the other hand, a term life insurance policy will only cover you for a set length of time such as 10 years, 20 years, 30 years, etc. Speak with an insurance agent about what type of policy you need and how to save money on your coverage.

Posted 5:43 PM

Tags: life insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2022
  • 2021
  • 2020

  • insurance(8)
  • coverage(7)
  • commercial(4)
  • policy(4)
  • business(3)
  • life insurance(3)
  • business insurance(3)
  • auto insurance(2)
  • health insurance(2)
  • premiums(2)
  • homeowners(2)
  • costs(2)
  • homeowners insurance(2)
  • auto(2)
  • liability(1)
  • workers compensation(1)
  • general(1)
  • life(1)
  • healthcare(1)
  • accident(1)
  • safety(1)
  • vehicles(1)
  • general liability insurance(1)
  • bop(1)
  • commercial auto(1)
  • owners(1)
  • burglary(1)
  • workers(1)
  • employee(1)
  • car(1)
  • term life insurance(1)
  • home insurance(1)
  • accidents(1)
  • vehicle insurance(1)
  • commercial auto insurance(1)
  • compensation(1)

View Mobile Version
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Home| Get A Quote| Customer Service| Blog| About Us| Contact
Cresson
310 Keystone Ave | Cresson, PA 16630
Phone: 814-886-4021 | Fax: 814-464-2119
Northern Cambria
1101 Philadelphia Ave. | Northern Cambria, PA
Phone: 814-948-8940 | Fax: 814-948-8420
Social Social
Logo

Powered by Insurance Website Builder