Factors that Affect Life Insurance Quotes

Views:
 
     
 

Presentation Description

Life is changing fast. Having life insurance will give you confidence because you're saving. If you're still finding it hard to choose an insurance company, contact an Independent Insurance advisor to advise you on what to do.

Comments

Presentation Transcript

Factors that Affect Life Insurance Quotes:

Factors that Affect Life Insurance Quotes

Table of contents:

Table of contents Factors that Affect Life Insurance Quotes Age Gender Health Hobbies and Occupation Smoking Status Tips on how to save on Life Insurance Buy Insurance Early Avoid Unhealthy Lifestyle Choose the Right Type of Insurance Compare Prices

Factors that Affect Life Insurance Quotes:

Factors that Affect Life Insurance Quotes Life insurance is also known as life assurance and is used to protect the family's financial security if you die. Getting life insurance is one of the wisest things you can do. Having a life insurance shows how much you care for your loved ones, and it guarantees you that your dependents will be well catered for when you die.

Slide 4:

Most people find it hard to talk about this topic. We tried to talk to several people about it, and we were shocked many don't have an idea of what this policy entails. Some know but are scared that it might be expensive.

Slide 5:

Its true insurance matters seem to be a bit complicated, but with the right information, you won't find it hard. Most insurance companies require you to give them monthly premiums, and ion return, they promise to take care of your family needs after your death. Several factors determine the life insurance quotes in Canada. These are:

Age:

Age Age is a very important factor when it comes to your life insurance premiums. Insurance companies maintain that older people have lower life expectancy compared to older people, no matter how healthy they seem to be. The premiums for older people, therefore, are slightly higher than that of a younger person.

Gender:

Gender Gender might not seem to have any impact, but it plays a big role in premium calculations. According to most insurance companies, women tend to have a longer life expectancy than their male counterparts. Insurance premiums for women are, therefore, slightly lower than that of men.

Health:

Health The second factor that affects the cost of life insurance premiums is your health. If you develop poor health, your premiums will get hiked. Insurance companies also lookout for the following factors to formulate premiums: Weight loss Smoking status Family medical history Past medical history

Slide 9:

If you're younger, then you're lucky. The insurance company will only ask you to fill the questionnaire, which mostly has medical questions. For older people, the company might require them to undergo medical tests and provide doctors medical reports to calculate the premiums.

Hobbies and Occupation:

Hobbies and Occupation People who engage in dangerous hobbies, like extreme sports, pay higher life insurance premiums. The same also applies to those people who have high-risk occupations like soldiers, miners, and drivers. These people pay higher premiums because they are more likely to die in the line of duty. Those who work in less risky places pay lower premiums.

Smoking Status:

Smoking Status Smoking is status is a very important aspect considered by insurance companies. If you’re a smoker, be ready to higher premiums almost double of normal premiums. All insurance companies will ask you if you smoke. If you want to register as a non- smoker, ensure that you stop smoking completely for 12 months and then reapply for a non-smoker.

Tips on how to save on Life Insurance:

Tips on how to save on Life Insurance Life insurance is quite expensive in Canada. We decided to come up with this additional information on how you can save on life insurance.

Buy Insurance Early:

Buy Insurance Early They say the earlier, the better. You can never go wrong by getting life insurance at a younger age. When young, your premiums will be low than when you get older. The good thing is the premium will remain the same until your contract is over and then decide to renew. That's when the premium will increase.

Avoid Unhealthy Lifestyle:

Avoid Unhealthy Lifestyle Avoid smoking at all costs. Take advantage of the lower premiums by avoiding smoking and an unhealthy lifestyle. Most Canadians smoke. These smokers get to pay high premiums while it's something that can be avoided.

Choose the Right Type of Insurance:

Choose the Right Type of Insurance There are two common life insurance types. These are: Term life insurance Permanent life insurance Term life insurance usually expires within a given term such as 10 or 15 years, while permanent life insurance is designed to protect you in your whole life. Permanent life insurance premiums do not increase while term life insurance the premiums go high every time the contract is renewed.

Compare Prices:

Compare Prices Before you take up life insurance, shop around to find out if you'll get better prices. You might get the best deals if you do your homework. There are numerous insurance companies nowadays, so you can pick one that matches your budget. Most insurance premiums start with as low as $68 per month for those still young and healthy. Some insurance companies stopped to give life insurance to old people of between 75-80 years old.

Slide 17:

Life is changing fast. Having life insurance will give you confidence because you're saving. If you're still finding it hard to choose an insurance company, contact an Independent Insurance advisor to advise you on what to do.

Contact details:

Contact details Life Insurance Direct Address: 240 Viceroy Road Unit 15, Vaughan ON, L4K 3N9 Mobile: 1-844-922-1392 Email: info@lifeinsurancedirect.ca Website: https://lifeinsurancedirect.ca/

authorStream Live Help