7 Key Influences on Your Life Insurance Rates

Your Vermont life insurance rates are set by a complex, actuarial process that includes statistical data gathered by computers and computer models, as well as personal information about you, your life, and your family. Some things that affect your life insurance policy are within your control to change or modify (such as smoking), while others (such as genetics) are completely beyond your control. Those items that you can influence to lower your rate you probably should, especially if you are looking into buying a whole life policy and will have to pay that rate essentially for the rest of your life. Even a small change that saves you just $5.00 per month in premium payments can quickly wind up saving you thousands of dollars in a lifetime.

1. Your Age: First up to the plate is your current age when it comes to calculating your Vermont life insurance rates. The older you are, statistically (and factually) you have less time to live than you did the year before. This means that the life insurance company is less likely to collect premiums on you and therefore you will have to pay more money each month in order to make writing the policy profitable to them. One of those factors you just can't control, what you can control is when you make the decision to get a policy - do it early, and you save money.
2. Your Weight/Height: Your weight you can control, your height you cannot. Both have statistical indicators for longevity. Leaving out unusually tall or unusually short, the more average in height you are, the longer statistics say you will live. Unusually tall persons tend to live shorter lives as do those who suffer from dwarfism or other conditions which stunt growth. Your weight fluctuates throughout your life, but if you are morbidly obese or exceptionally thin, you can expect to see that reflected in your life insurance premiums.

3. Your Marital Status: Married people live longer, healthier lives. Not entirely sure why yet, but it's something that a life insurance company likes to see.
4. Your Family History:If your parents both had cancer, you can expect, unfortunately, that to have a significant impact on your life insurance premiums. Likewise with other conditions in your family such as a sibling with diabetes.
5. Your Overall Current Health: You will likely have to submit to a health physical by a physician of the insurance company before you are approved and coverage begins. This physical is designed to make sure that you are generally healthy and not suffering from any mitigating conditions or circumstances that should change your policy premiums.
6. Your Occupation: What you do for a living can affect your lifespan. Being a pencil-pusher behind a desk is tame enough but if you work for a circus you can expect to pay a bit more and if you're a skydiving instructor
7. Your Current Location: Where you live affects your lifespan a good deal. It's probably not worth it to up and move somewhere for life insurance statistical reasons, but it is something that life insurance companies will take into consideration when writing your policy quote.