What Factors Determine Life Insurance Rates?
- 0 POINTSview profileGeorge RodriguezInsurance advisor, Transamerica, Chicago ILThere is a lot of factories that impact the rate on a life insurance policy, for example hobbies, heath history, gender, height , weight, smoker, and the list goes on and on but don't get discourage on this factors life insurance is a great tool to have in your financial planning. It is tax defer, plues if you have a life insurance policy with cash accumulation, You can use that cash to pay for anything that you would like, (when there is cash in the policy though) .Answered on July 7, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! There are many things that have a part in determining the rate you will be charged for your life insurance. The main ones are your age and gender; Your smoking preference; your current and past health status; the medications that you are taking; the type of life insurance that you'd like, and the amount of coverage. It is always in your best interests to have an experienced agent help you find the right policy for you. Thank you for asking!Answered on July 7, 2014flag this answer
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