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People talking about their life insuranceTrying to understand your life insurance rate can be a bit confusing. Rest assured, you are not alone. The rate on your life insurance premium is determined by a variety of factors. To help you better comprehend how rates are decided upon, Soucy Insurance would like to highlight for you five of the most common factors used in determining your rate.

  1. The Policy Itself. The longer the term of the policy, the more you will pay for it. Long term policies are more expensive than short term, and whole/permanent life insurance is generally more expensive than term life insurance.
  2. Your Age. This is an incredibly important albeit simple factor. Your rate is typically less if you are young. This is why it is best to invest in life insurance at an early age.
  3. Your Current Health/Habits. People who are currently in good health will typically see lower rates. If you smoke or drink regularly, your premium may be higher than those who do not smoke. If you have recently quit smoking, you may qualify for lower rates in as little as one year. Certain hobbies such as skydiving, base jumping and paragliding may also contribute to higher premium rates.
  4. Your Occupation. Certain occupations that have a high risk of injury or accidental death may lead to increased rates or in some cases, no coverage at all.
  5. Your Family History. If you have a major family history of serious illnesses such as heart disease and cancer, which can be hereditary, you may pay more.

At Soucy Insurance, we will do our best to find the life insurance coverage that best suits your specific needs. See for yourself the difference in working with an insurance agency with ten decades of experience. Visit us at or call (401) 762-2218 for additional information.

Post Author: jhcomsoucy