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How Your Rates Are Determined

When you apply to Buy Term Life Insurance Online, you will see quotes that reflect your plan, or the cost of your policy. Learn more about how your rates are calculated.

Controllable Factors That Influence Your Costs

Several factors that are under your control will influence the amount you pay when you buy protection online. These include:

  • Smoking. Smokers pay a considerably higher rate when they buy coverage. Most companies recommend you stop smoking a year before you apply. If you already have coverage but would like to lower the amount you pay, you can also stop smoking for a year and then contact your insurer to let them know.
  • Weight. Being overweight or obese will cost you more. Because overweight people have a higher mortality rate, carriers view such people as higher risk to insure. Before you purchase, it might be a good idea to talk with your physician about a weight loss plan if you are obese. Similarly, if you have lost a substantial amount of weight recently and would like to lower your expenses, contact your insurer to let them know.
  • Occupation. Dangerous occupations also increase your premium when you buy term life insurance online. Such occupations might include fire fighters, electricians, police officers, etc. Especially if you are getting married or about to start a family, you might consider switching to a less dangerous profession in the interest of your family and your expenses.

Factors Outside of Your Control

There are also aspects that influence the amount you pay that you can't do anything about, such as:

  • Age
  • Gender
  • Family history of illnesses