5 Things that Make Life Insurance Expensive!

Finding cheap life insurance is the goal of every person seeking for life insurance, especially those that seek life insurance no medical exam. We recommend you to read this blog post, if you want to know the most important 5 things that make life insurance expensive:

images1)     Being too old when you apply for life insurance. Life insurance companies prefer young clients, because they will be able to sign in for more years and thus making the investment beneficial for both parts.  People that have more than 50 years old find adequate senior life insurance harder. So, do not procrastinate and apply for life insurance as soon as possible. Premiums are calculated accordingly with the age of the applicant.

2)     Having some medical problems when you apply for life insurance. Individuals with pre-existing medical conditions are not quite the ideal client for traditional policies.  They will have to explain more about their disease, treatment and how it influences their lives and work capability. It is certain that having a severe disease not only will make the premiums get more expensive, but it will jeopardize the whole underwriting process.

3)     Having a history of drug abuse or DUI.  Driving under the influence of drugs or alcohol represents a serious felony and it is punishable by law. This type of law violation will be noted in criminal records. In some cases, criminal records will be consulted before selling life insurance. If the company notices too many felonies on the criminal records, you will not be considered a trustworthy client and most likely, you will be rejected. Or, in some cases, you will be charged with more expensive premiums.

4)     Having dangerous vices or hobbies.  Smoking too much and drinking too much are considered harmful habits. They will increase the cost of life insurance. Also, several activities like sky-diving or scuba-diving are regarded as dangerous. Companies will charge them extra.

5)     Having a dangerous job. People with dangerous jobs (soldiers, police officers, bodyguards, firefighters) present a higher mortality risk and thus are charged extra if they want a private life insurance policy. The good news is that most of these jobs offer life insurance from the employer.

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