The Two Biggest Factors That Make Life Insurance Rates Increase

The Two Biggest Factors That Make Life Insurance Rates Increase

If you could buy gas for your car cheaper in the morning would you make the effort to get it then? If there were steps to decrease your home mortgage payments or car payments would you consider them? Would you pay more than necessary for credit card interest? Most people would say no. Our hard earned money, after all, is valuable to us. There are better things we can do with our money than giving it to oil companies, bankers and utility companies.

Yet, many of us don’t take advantage of cheap life insurance rates when they are available. The fact is, there are two major factors that contribute to the cost of life insurance and you have control of both. They are your age and your health.

Alright, you can’t control your age nor your health, but stay with us.

Age

Generally, life insurance is less expensive when purchased at a younger age. The reason? Mathematically you are further away from death. That may be blunt, but it is the truth. You can buy an extraordinary amount of life insurance at 30 that you may not be able to afford at 50 or 60. Why wouldn’t you buy it when it is less expensive, like gas in the morning.

Health

When it comes to the cost of life insurance your, health and physical well-being plays a major factor. Illness and sickness occur, yet we can control our weight, or stress level, our diet and the activities we partake in. Smoking, drinking and jumping out of airplanes could have a negative impact on life insurance rates.

So here it is, plain and simple. The twoย biggest factors affecting your life insurance rates are mainly in your control. If you are young and healthy you should be jumping on the opportunity to acquire as much life insurance as as you can afford. When you realize rates can go up at your next birthday or your next doctor’s visit, it is easy to understand.

Contact one of our independent agents to discuss the difference between term and whole life insurance and which may work best for you. We can provide quotes from several different companies at no cost to you. Connect with us today.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Search All Blogs

Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about
our blog writer?

Read more about KayLynn's background.

Search All Blogs

Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

A Gift That Keeps on Giving: The Enduring Benefits of Child Life Insurance

Child Life Insurance: A Timeless Gift of Love, Protection, and Financial Security

Navigating the Deductible Dilemma Maze

Insurance Deductibles: A Delicate Dance Between Financial Security and Premium Savings

Debunking Insurance Myths: Unveiling the Realities Behind the Industry

Insurance Unveiled: Separating Fact from Fiction in the World of Protection

Insuring the Unexpected: A Glimpse into the World of Bizarre Insurance Policies

From Million-Dollar Legs to Kidnap Insurance: Unveiling the Quirky World of Unusual Policies

Cracking Down on Insurance Fraud: Protecting Yourself and Your Community

Combating Insurance Fraud: Understanding the Risks and Taking Action

The Marriage-Insurance Connection: How Getting Hitched Affects Your Coverage

Marital Bliss and Insurance: Navigating Coverage Changes After Getting Married

Life Insurance for College Graduates: Why You Need It and How to Get It

Life Insurance for College Graduates: A Smart Investment for Your Future

Pre-Existing Conditions: What You Need to Know Before You Buy Insurance

Pre-Existing Conditions and Insurance: A Comprehensive Guide

Demystifying the Insurance Declaration Page: What You Need to Know

Insurance Declaration Page: What It Is and Why It’s Important

Why You Need a Human Insurance Agent

Human Insurance Agents: The Best Way to Protect Yourself and Your Assets