An important question that is often asked in regards to a life insurance policy is "what is the price." Similar to any other type of insurance, your premiums are usually specific to your circumstances. Below are important facts to consider when calculating average costs for life insurance policies:

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Type of coverage: It is important to know that the more your policy covers, the more your premium will typically cost.

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Health and lifestyle: A few major contributing factors play a role in the pricing of a premium plan. These are things such as your health and lifestyle. The reason for this is because people in poor health usually attract higher premium costs then someone that is in better health. A few additional factors that also play a role are: smoking, alcohol consumption, amount of exercise, diet, and sports.

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Occupation: This can also play a major role in the costs of a premium. Working an occupation that potentially has many dangers and hazards is primarily what this refers to. Some examples of these would be: operation of heavy machinery and drilling equipment.

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Age: Your age can also play a role is the cost of your insurance premiums. This is because if you are in a higher stage in life then the likelihood of needing a claim is sooner then someone who is in a younger stage of life.

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Policy Features: The more additional features that you have added to your policy could also affect the price of the over all plan. These would be considered things such as: extra coverage, special conditions, and optional features offered by the insurance company.

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Sum insured or benefit amount: This is the amount that you choose to be paid out after you pass away. The more benefit amounts you choose, its likely going to be a higher premium amount.

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Typical Life Insurance Exclusions

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One thing that is very important when choosing a plan as well, is acknowledging and understanding any exclusions or restrictions that are on your level of cover. General exclusions are typically what insurers put in place for every life insurance plan coverage. Many employ these exclusions or restrictions and have them cemented into their policy regardless of your medical history, financial circumstances, and well being.

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A few examples of what some of the general exclusions are is listed below:

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• Criminal activity/breaking the law

• Suicide or self-harm

• Negligent or reckless behavior

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Please keep in mind that it is imperative that you read the fine print of your chosen policy. While most insurers will cover applicants for things such as: Pre-existing conditions, high risk actives or jobs, and occupational hazards, there is a chance that some insurers may have specific exclusions on their policies.

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Please remember, that I am always here to help. If you choose me to be your insurance advisor, then you will have exclusive contact to me via phone or email.

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If you have any questions in regards to this, don't hesitate to reach out to me via phone, email, or fill out the form on this site. I would be happy to assist you with getting you into the right plan!