How age affects your life insurance premiums
Life insurance rates vary by person. Factors that may influence your life insurance costs include your gender, if you’re in good health, your occupation, your lifestyle and even your credit score. This is why your insurance agent will often ask health questions or about risk factors during the underwriting period.
Age also significantly affects how much you'll pay for coverage. Generally, the older you, the policyholder, are, the higher you'll have to pay in policy premiums. The likelihood of passing away increases as you age, and consequently, the higher the probability your life insurance company has to pay your beneficiaries your death benefit.