Factors That Can Affect Your Life Insurance Application

The Island Now

Life insurance is a way of looking out for your family in the future. By getting a life insurance policy, you can financially support your family even after you’re gone. There are many factors to take into consideration when searching for the right policy. Keeping in mind the things that could affect the cost and coverage of your policy is a vital part of the process that you should look into beforehand so that you know what to expect.

Medical Exam

Insurance companies will most likely require you to take a medical exam to sign up for a policy. This is to verify information about your health that you submitted in your application. There will be a questionnaire, a physical exam, and blood and urine tests. 


There are other options that don’t require these examinations. Instant life insurance with no medical exam is an option for those who need quick insurance and don’t want to endure what can be a long and drawn-out process. You can sign up over the phone in minutes if the medical exam is not something you have time for. 


Age is the number one factor companies consider when working with policy candidates. Getting life insurance right out of college might not be necessary. However, if you are young and have dependents, it’s better to get insured sooner rather than later. Insurance premiums get higher the older you get. If you’re young, insurance companies can expect that they’ll receive payments from you for a very long time. Whereas if you’re older, then they’ll have to charge you higher premiums so that your family will be able to cover expenses if you pass away soon. 

Family medical history

Your family medical history will be questioned to determine if there’s any possibility of you dying early in age, which is more likely if your family has a history of disease or illness. If there is, you might have to pay higher premiums since you may not be around long enough to pay much towards a plan. Geneticists have found that many disorders are genetic and can occur more in some families. Because of this, insurance companies will need to know if there’s a history of cancer, heart, disease, or diabetes in your immediate family. If so, then your premium might be higher. 

Pre-Existing Conditions

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The medical exam will also see whether or not you have any medical conditions. Look into the various pre-existing conditions that could affect your eligibility and premiums. If you’ve ever checked into a mental health facility or had a heart attack, then there’s a chance you could pay a higher premium. You could even be denied health insurance from a company if they think your condition is too severe. 


Anything that can shorten your lifespan will result in a higher premium. This is to ensure that your family will be financially covered if you pass away sooner than expected. There are many lifestyle questions about your job, hobbies, and habits you will be asked on your application. The answers will determine a lot about what kind of coverage you can get and how much it will cost. There are many changes you can make to your lifestyle that could potentially lower your premium such as exercising, drinking less, quitting smoking, or losing weight. Additionally, if you’re an adrenaline junkie and your favorite hobby is cave diving or bungee jumping, then you might have to pay a higher premium. Dangerous jobs will typically provide employees with good insurance, but in the case, it doesn’t and you have to take out your own policy, expect a higher premium. 


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Smoking and tobacco use will have such a massive effect on your premium that it deserves an entire section to itself. The negative side effects of smoking are fully known to doctors and the general public. It’s common knowledge that smoking regularly can take almost an entire decade off your life. Because of this, insurance companies give completely separate rates to smokers and tobacco users, and you’re likely to pay four times more than non-smokers. If keeping your premiums low is important to you, then smoking or using tobacco is not an option. 


Gender will affect a life insurance policy application more than you think. Companies base a lot of their pricing on statistics, and statistically, women live up to five years longer than men. As mentioned before, the longer a company can expect a person to be paying on a policy, the lower the premium will be. So, women are fortunate in this regard and pay less for insurance policies than men do. 

Driving Record

Car accidents claim thousands upon thousands of lives every year, so of course, health insurance companies take a look at your driving record when you apply for a policy. If you have a history of driving offenses, then this will certainly factor into the price you’ll pay for coverage. Companies may not even ask you about your driving record and might just run a background check or contact the Department of Motor Vehicles to find the answers to their questions. On the upside, if you’ve improved your driving skills by taking defensive driving courses or not having any traffic violations within the last 3-5 years, then it shouldn’t factor into your premium. 

Payment Cycle

Insurance payments can be made quarterly, twice a year, or once a year. The fewer payments you make a year, the more you save. Paying several times a year will result in a higher premium. So, if it’s possible for you to pay your premium in only one or two payments, then you’ll end up saving more in the long run. 

Preparing financial security for your family for when you’re no longer able to see to their needs is the best way to express how much you care for them. You don’t want them to struggle while you’re around, and so of course you don’t want that for them when you’re gone. The best way for you to ensure they have what they need in the future is to take care of your health and secure a policy that will support them later on. 

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