Common Reasons Why a Quoted Rate May Increase
Term life insurance, whole life insurance, and universal life insurance quotes may change. Learn the reasons for higher rates.
Below are some of the most common reasons why you could receive a higher rate for life insurance from the life insurance company with whom you are applying.
Poor height / weight ratio - Each insurance carrier has specifications for each rate class. Your exact height/weight ratio will determine which class you will be considered for.
High cholesterol levels - Every life insurance company looks at cholesterol levels differently. However, the higher your cholesterol levels, the greater chance you have of paying more for your life insurance premiums.
Family history of heart disease or cancer - Life insurance companies always want to know if your family has a history of heart disease or cancer. They view this information as very important because, if your family has a history of heart disease or cancer, the likelihood that you will also have heart disease or cancer is much higher. If there is a family history of these diseases, your life insurance premiums could be much more expensive.
Elevated blood pressure - Each life insurance carrier looks at your blood pressure. If you have elevated blood pressure, your life insurance rates will most likely be more expensive. The one good thing about finding out about your elevated blood pressure levels is the fact that blood pressure can be regulated with medication.
Poor driving history - If you have multiple accidents or moving violations in the last five years, your life insurance rates may be more expensive.
Participation in hazardous activities - If you participate in these types of activities (hang gliding, scuba diving, etc.), your life insurance rates will almost always be more expensive. Sometimes you can get a good rate of coverage that will cover everything except for death as a result of the hazardous activity.
