By Business Insurance 
Life insurance plans are a topic that make many people uncomfortable, as it brings the reality of mortal life into abrupt clarity. Ironically however, life insurance coverage is a fact of life that many, if not most people, consider at some point during their lifetime. That’s because the right life insurance coverage helps to ensure your loved ones are taken care of long after your death. Not that’s resting in peace!
But before you begin shopping for the right life insurance policy, it’s important to understand exactly how life insurance companies calculate your premium. In the same way that your credit score affects how much interest you will pay on a loan, your lifestyle has everything to do with how much you will pay for life insurance.
Here are five critical questions to consider about your lifestyle before shopping for a policy at different life insurance companies:
How old are you?
It’s often been said that age is just a number, however this sentiment isn’t necessarily true when it comes to life insurance. In fact your age is one of, if not the, most important factors that determines your life insurance premium. Younger policyholders will pay lower premiums than those who are older. That’s because life insurance companies are more likely to view older policy holders as a higher risk, and the likelihood of having to pay on the policy increases.
How good or bad is your driving record?
At first, it might seem strange that life insurance companies consider your driving record as a factor in determining your premium. After all, what does your driving history have to do with being policyholder? The truth is, it has absolutely everything to do with the cost of life insurance premiums. If you have a poor driving record with a number of collisions, you may be viewed as a higher risk by life insurance companies and therefore pay higher rates. In some cases, your application may even be declined. If that’s the case, it’s best to explore and take advantage of the many other kinds of life insurance policies available.
What are your hobbies?
If you’re an adrenaline junkie that enjoys extreme sports of semi-dangerous hobbies such as skydiving, you can expect to pay higher rates on your life insurance policy. Whether it’s for business or for pleasure, any activity that increase your risk of death will also increase your life insurance premiums. Regardless of your current health, life insurance companies view these kinds of extreme activities as high risk and harder to insure.
Living a balanced, healthy lifestyle makes you a prime policyholder for life insurance companies and will keep your rates low. Eating a healthy diet, exercising, not smoking, and regular doctor visits are all apart of living a healthy life and enjoying low life insurance premiums! For more information about life insurance premiums and rates, contact a local life insurance company near you to learn more.