When you apply for life insurance, the insurance company will assess your risk based on a number of factors. The cost of your life insurance will depend on the risk you pose to the insurance company. A major factor which determines this risk is your lifestyle. The aspects of your lifestyle that affect how much you pay in premiums are your health; both physical and mental, smoking, alcohol, employment and hobbies.
If you are healthy, you need not worry about the cost of life insurance. But if you have a medical problem or you are overweight, you may have a problem getting life insurance. While you may not be denied life insurance, you may have to pay more. Insurance companies are generally most concerned if your condition will affect your life expectancy and make you a high death risk. The same is true for your mental health also. If you have a history of mental illness, you can expect to pay more for life insurance. The best way to lower the cost of life insurance if you have any health problems, physical and mental, is to can show that you are in control of the situation and you are addressing the problem by undergoing proper treatment. Provide the insurance company with medical records showing that the treatment is having a positive effect on your and your condition has improved since you started the treatment. Probably the only red flag is suicide. If you have been hospitalized for suicidal tendencies or for attempting suicide, you are considered a higher risk than someone who has suicidal tendencies, but is able to function in society, goes to work and has been taking medication to treat the illness. Without proof, the insurance companies will not consider you for a life insurance policy. If you have a drinking problem, almost certainly you will end up paying more for life insurance than a person without a drinking problem. There are no fixed rules for insurance companies on dealing with people with drinking problems. If you are a smoker, you will be charged more. Insurance companies view smokers as high risk as they are likely to get affected by smoking related diseases which are mostly fatal.
Your employment and hobbies can also affect the cost of life insurance. If you are working in a dangerous profession where you are regularly face the risk of death or you have a dangerous hobby which puts your life at risk, you will end up paying more for life insurance. What you need to remember is that most of these factors can be controlled by you.
