9. Price Impacts of Different Factors
The table below outlines potential price impacts from different factors. Different insurance carriers may treat factors differently, so use this only as a general guide
|Factor||Potential Rate Increase|
|Family Health History||0-400%*|
|Outstanding Test/Issue||Postponed Application|
* In some situations, insurer may decline to offer coverage.
† No payout if death were to occur due to excluded condition or activity
Gender also impacts the price of insurance. Life insurance for women is about 25% cheaper! This is because men statistically have a greater chance of dying, at every age. (Interestingly, the opposite trend is true for disability insurance as women claim more disabilities, statistically).
Do you have a specific question about ratings, price differences, or a concern over insurability? You can email us directly.