Life insurance rates are determined by a combination of factors, including your age, gender, occupation, financial status, risky pastimes, lifestyle (particularly tobacco, alcohol and drug consumption), face amount of the policy and your health.Armed with actuarial tables and company history, a life insurance underwriter will place you in a risk class based on the likelihood that you will expire before your life insurance policy matures, thus forcing the company to take a loss on your policy. Naturally, the higher the face value of your policy, the closer the underwriter will scrutinize your health.
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