Free Quote Hotline: 1-800-586-3072
How is the Cost of My Life Insurance Policy Determined
The cost of your term life insurance policy is dependent upon several factors, including but not limited to, your age, health, lifestyle habits, and family heath history. Based on this information, your rate class is determined.
Your life insurance underwriting classification defines how much you will pay for your premium. Because people are unique, they have different rate classes, based upon health and lifestyle characteristics. Some of the specific factors life insurance companies consider are:
- Tobacco usage
-
Blood pressure
-
Cholesterol level and ratio
-
Family medical history
-
Hazardous activities
-
Driving record
-
Travel
The more accurately a life insurance company can assess your level of risk, the more accurately they can assign your rate class. The appropriate rate class means you will pay a term life insurance premium that is specifically suited to you.
Furthermore, underwriting guidelines may vary between life insurance companies so it is important to speak with a licensed life insurance agent to find out which policy is best suited for you.
Start your personalized term life insurance quote online today!
Or, you may call us at 800-586-3072 to speak with one of our licensed life insurance agents directly. They can answer questions and help you determine the right term life insurance policy and coverage amount.
« back to FAQ home
©2012 Matrix Direct Insurance Services. All Rights Reserved. Matrix Direct, Inc. is a subsidiary of American General Life Insurance Company(AGL) and an affiliate of The United States Life Insurance Company in the City of New York (USL). Agency services provided by Matrix Direct Insurance Services in CA (#0B57619), ME, MA, and OK; Matrix Direct Insurance Agency, Inc. in UT; and Matrix Direct, Inc. in AR (#246412) and all other states, except SD.