What factors affect the cost of life insurance?

The cost of life insurance is influenced by various factors. These include the individual's age, health, lifestyle habits such as smoking or excessive drinking, and occupation. Younger individuals typically pay lower premiums as they are considered less risky to insure than older individuals. Health plays a significant role, with those with pre-existing medical conditions or a family history of certain illnesses paying more. Lifestyle choices like smoking increase the risk of health issues, resulting in higher premiums. Similarly, individuals in high-risk occupations such as firefighters or pilots may have higher premiums due to the nature of their work. Other factors like the coverage amount, type of policy, and duration of coverage also impact the cost. Understanding these aspects helps determine the appropriate life insurance plan within one's budget.