Video — How is Life Insurance Calculated?

How is life insurance calculated? Life insurance rates and coverage are calculated from quantifiable factors about you, such as are you filing singly, just you or jointly with a significant other? What is your age at the time of filing your current health and lifestyle? Also matter. Do you have any chronic or serious illnesses? What kind of lifestyle do you lead? Do you smoke? Does your weight impair your health? Do you participate in potentially life threatening hobbies? In addition, family medical history and your driving record may affect rates naturally, the length of the policy and amount of. Effects cost as well as do the way payments are structured. Do rates increase, decrease, or stay constant over time? It's worth understanding the details as lower premiums can provide major savings over time.