Life and Annuity Insurance - What Affects Premium?

  • The age you purchase your policy.  The older you are, the more expensive the premiums.

  • Your overall health.  Life insurance companies typically ask you about your medical history, request access to medical records and even obtain blood and urine samples for testing.

  • Pre-existing and/or chronic health problems, such as diabetes, heart disease, cancer or sexually transmitted diseases may prevent you from getting life insurance or place you in a high-risk pool at greater cost.

  • Poor health habits, such as smoking and excessive drinking. 

  • Engaging in dangerous hobbies, such as skydiving, skiing or rock climbing

  • Your driving record, in terms of accidents, DUI citations, claims and tickets. The better your record, the better rates you’ll receive for your life insurance.

  • Your geographic area.  Life insurance companies have access to regional data that document mortality rates and life expectancy, and they use that data to calculate the rates they offer.
Connecticut Insurance Department

153 Market Street, 7th Floor
Hartford, CT 06103