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15 Things Underwriters Look at to Determine Your Life Insurance Premium

15 things? Don’t let that number intimidate you. Life insurance companies need to get a clear portrait of who they will be insuring—and that means looking at the applicant (you) from every angle in order to determine your life insurance premiums.

A one-size-fits-all policy simply doesn’t exist—that’s why there’s an application process behind purchasing your insurance plan. Every individual will have unique coverage needs—and a different life insurance premium rate, too.

Underwriters look at a number of data points, including your lifestyle, occupation, medical record, financial history, and driving record to place your application in a risk class. Your risk class determines how much you pay for life insurance.

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Getting Started with Your Life Insurance Application Process

Before you purchase your term life insurance policy, an underwriter evaluates your application and determines if you are insurable—meaning that you can be considered an acceptable insurance risk.

If they determine that you are insurable, they will review the amount of coverage that you are eligible for based on your income, and finally, how much your life insurance premium will be.

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When an underwriter assesses your application to determine your life insurance premium, they use a complex

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