What factors determine the premium for a life insurance policy?
Asked a year ago
The premium for a life insurance policy is determined by various factors that Pacific Life takes into consideration. These factors include the age and health of the insured individual, as well as their gender and occupation. Additionally, lifestyle choices such as smoking habits, alcohol consumption, and participation in hazardous activities can influence the premium. The type and amount of coverage desired also play a role in determining the premium. Other factors that impact the premium include the length of the policy, the policyholder's family medical history, and the overall risks associated with the insured individual. Pacific Life evaluates these factors to provide an affordable and personalized premium for each life insurance policyholder.
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