Some of the factors that make life insurance more expensive are common sense. Things like tobacco use, heart disease, cancer, and diabetes make insuring a particular individual’s life riskier—and more risk, means a higher premium. However, there are some things that may not be so obvious. Here are some of the lesser known reasons life insurance can be more expensive:
- Being overweight.
- Having a bad driving record.
- Having a bad family health history.
- Being employed in a dangerous job.
- Participating in dangerous hobbies.
- Having asthma.
- Having high cholesterol or high blood pressure.
- Substance abuse.
The good news is you can control most of these, lessening your premium AND prolonging your life span.
Of course, there is one factor that will affect your life insurance rate that is completely out of your control: your age. The younger you are, the more affordable life insurance is. Therefore, the best time to purchase life insurance is when you are young and in relatively good health.