FAQ
Short Answer:
Long answer:
Your Age:
How long can we reasonably expect this person to stick around? Oh, they’re 25? Great, they might be here for decades. They’re 70? Let’s keep a closer eye on this one.
Your Health:
Do they treat their body like a temple or a theme park? If they’re healthy, they’ll probably outlive us. If not, let’s make sure we price in their love of the finer things in life.
Your Lifestyle:
Skydiving hobby? Smoking cigars while wrestling alligators? Okay, let's add a little ‘thrill-seeker tax.'
Your Gender:
Statistically, women tend to live longer, so they often pay a bit less. Sorry, gentlemen.
The Policy Type:
Do they want a basic no-frills plan or the insurance equivalent of a luxury penthouse? Let’s price accordingly.
Conclusion:
life insurance premiums are determined by how likely you are to make it to your 100th birthday and how fancy a policy you want. The healthier and less risky your life choices, the cheaper your “entry fee” into the grand game of life insurance.
