Therefore, insurance companies charge a high premium for individuals who smoke or drink alcohol

Smoking and drinking alcohol: Lifestyle habits like smoking and drinking alcohol can impact your health and lead to multiple health issues.So, if any hereditary illnesses run in your family, you may have to pay a higher premium Family health history: The chances of suffering from a disease that runs in your family are considerably high.If you have any pre-existing illnesses or have suffered from an illness in the past that may resurface or affect your present health, you would be charged a higher premium Health conditions: Your present and past health conditions can determine the premium for your life insurance plan.Therefore, the life insurance premium is lower for women as compared to men Gender: Studies have shown women live longer than men 1.The life insurance premium is lower for younger people and gradually increases with age Age: One of the prime factors that affect the premium for a life insurance plan is your age.Now that you know what is life insurance and why you need it, find out the factors that can affect the life insurance premium: Factors that affect life insurance premium

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