Life insurance is priced based upon your medical records, behavioral activity, financial justification and whether you’re covering temporary or permanent financial liabilities, future obligations and have any charitable intent.
Medical information is critical to securing the best possible underwriting offer. Your premium price tag depends on your gender, age, smoking status, health history, current medical condition and paramed exam results. Your premium price tag is also dependent on your behaviors like: motor vehicle violations, dangerous recreational activities and vocational hazards. Your premium price tag will be determined by totaling your financial liabilities, future obligations and charitable intent, so you can justify the amount of coverage you’re applying for, whether that coverage is temporary or permanent.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The insurance company hires actuaries that determine the likelihood that someone your age will die in the coming year, and then in subsequent years until the termination of the policy. That figure, plus expenses makes up the premium for a “standard” risk. The underwriter at the insurance company reviews your medical history and doctor’s reports to determine if you are in the standard category. You could be a “preferred” risk or a “substandard risk.” Premiums are adjusted from the standard risk premium to reflect these variations.
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Medical information is critical to securing the best possible underwriting offer. Your premium price tag depends on your gender, age, smoking status, health history, current medical condition and paramed exam results. Your premium price tag is also dependent on your behaviors like: motor vehicle violations, dangerous recreational activities and vocational hazards. Your premium price tag will be determined by totaling your financial liabilities, future obligations and charitable intent, so you can justify the amount of coverage you’re applying for, whether that coverage is temporary or permanent.