What Determines The Cost Of Life Insurance?

Photo courtesy of Brad Corriher State Farm
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Q: What factors determine the cost of life insurance?

A: Life insurance policies are priced based on your life expectancy. There are a variety of factors that influence the cost. These include:


Younger people generally receive lower rates because they represent a lower risk to life insurance companies based on having a longer life expectancy.


Your overall health can lead to higher premiums. High blood pressure, high cholesterol, heart disease and diabetes are just a few of the life insurance risk factors that can impact the cost.


Men typically have a shorter life expectancy than women, and they generally pay higher life insurance premium rates.


Working in a field such as construction is riskier than working in an office. People working in those occupations typically pay higher premiums.


Risky hobbies such as rock climbing, auto racing or being a weekend pilot can also drive up premiums due to the higher chance of accidents.

Driving record

Having a history of speeding, accidents, or DUIs on your driving record can lead to higher rates.

Tobacco use

Companies know that tobacco use lowers life expectancy. Premium costs increase accordingly.

Family health history

A history of serious health conditions in your family may lead to higher life insurance premium rates because it increases your chances of developing similar issues.

Interested in a life insurance quote? Feel free to call or text my office at (704) 526-0887 or visit us in person at 9539 Idlewild Road or online at MyMintHillAgent.com.

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Brad Corriher
Brad Corriher is a Mint Hill-based State Farm agent specializing in life, home, auto, commercial, and renters insurance. He loves helping his customers bring their goals to life, while also keeping them well-covered for all of life's twists and turns. He lives in Mint Hill with his wife, Lauren. Say hello to him at his office, located at 9539 Idlewild Road, or check him out online at MyMintHillAgent.com. You can also call or text his office at 704-526-0887.