Most people understand the value of a life insurance policy; it helps your family members cover the cost of final expenses and replaces household incomes. What many people don’t know is that the cost of purchasing a life insurance policy is often less expensive than commonly thought.
To put it in perspective, the average American worker spends about $14.40 on coffee a week. That's nearly $750 a year on coffee alone! It's likely that you can purchase a life insurance policy for the same amount of money you spend on your coffee runs.
What Factors Determine the Cost of Life Insurance? 
Insurance companies base the rates they quote to you on risk factors. Coincidentally, risk factors vary from company to company.
Essentially, risk factors are actions or conditions that threaten your life, which increases the chances of your insurance company paying your premium early, so to speak. Risk factors include:
- Smoking
- Age
- Gender
- Health
If you work in an industry that historically has an increased risk of life-threatening accidents, this could be considered a risk factor as well.
Fortunately, there are positive ways in which you can affect the cost of your life insurance policy. For instance, purchasing life insurance while you are younger increases your chances of you paying significantly less for your insurance policy.
Additionally, remaining active and up-to-date with your wellness exams helps you avoid health problems such as chronic illnesses that can threaten your life.
Get a free quote today. Contact Bromell Agency, Inc for more information on life insurance.