The Top Factors That Affect The Cost Of Life Insurance
Chester, Cheshire
01244 264 866

The Top Factors That Affect the Cost of Life Insurance

The Top Factors That Affect the Cost of Life Insurance

Looking After Your Blog Image

Is the cost of life insurance putting you off getting a policy?  

Life Insurance can be one of the best ways of protecting your loved ones in the event of your death.  However many people don’t have a policy as they think it will cost too much.

The cost of life insurance will depend on a number of different factors, with insurers looking into your risk factor.  But this means that there are also things you can do to help reduce the cost of life insurance.  

We take a look at the factors that will affect how much you pay for your life insurance:


Your age is probably going to be the biggest factor that affects the cost of life insurance.  As you age, the likelihood that an insurer will have to pay out increases.  Therefore it is wise to take out a life insurance policy at a young age when premiums would be lower. 


Statistics prove that women tend to live longer than men.  The average life expectancy of women is approximately four years longer than men.  This disparity means that women will generally pay a little less for life insurance than their male counterparts.

Medical History

Depending on your circumstances, an insurer may invite you to undergo a medical examination before agreeing to issue you with life insurance.  At the very least, you’ll be expected to answer questions regarding your weight, blood pressure, cholesterol levels as well as any current medical conditions.  A history of serious illness such as heart disease, cancer or diabetes will certainly increase your premiums. 

Family History

It isn’t just your health that the insurer will ask about.  If there is a history of illness in the family, such as hereditary conditions, this could impact on the cost of your life insurance. 


There are a number of health risks associated with smoking or the consumption of alcohol and this will certainly increase the cost of premiums.  Quitting tobacco may be hard to do, but it can be a good way to reduce the cost of life insurance.  It’s definitely not worth lying to your insurer by telling them you are a non-smoker.  If you were found to have died from an illness related to smoking, they may refuse to pay out to your beneficiaries.  


You will be asked for your occupation on your application form.  There are some professions that are considered to be much riskier than others and therefore will incur higher premiums. For example if you work at height or are exposed to toxic chemicals.  


If you are into extreme sports such as snowboarding or skydiving then you can definitely expect to pay higher premiums.  Activities which fall into the high risk category may vary between insurers. It’s always wise to check before taking out a policy.  If you enjoy high-risk hobbies, it may be worth seeking an insurance provider that specialises in extreme sports. 

The actual policy

The cost of life insurance isn’t just affected by you and your lifestyle as listed above.  The specifics of the policy you choose will also have an impact on the price you pay. 

If you are insuring yourself for a large amount over a long period of time then expect to pay more than a smaller amount over a shorter period of time.  A term assurance policy that is in place over a set period of time will cost you less than a whole-of-life policy that guarantees a payout.  

Looking at the factors above, there are obviously things that you can’t change (oh how we would love to reverse our age).  However making some changes, such as losing weight, quitting smoking or adopting a healthier lifestyle could help you to get a more affordable premium.

Let us help to find life insurance at the right price for you.    Our life cover specialists can help you determine how much cover you need and discuss which policy will be best suited to your needs.


Leave a Reply

Your email address will not be published. Required fields are marked *