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If you are in the market for Term life insurance, you might be surprised how inexpensive term life insurance is. To be considered for a rating of "Good" or standard, the following guidelines should be met. If you are a 53 year old male, your height and weight should be proportional to one another. In other words you should not be overweight. Your medical history should not include medical issues such as diabetes, heart attack, stroke, or any other serious or debilitating disease. With some companies can have high blood pressure or high cholesterol and still be considered a standard risk. That is if these conditions are evaluated by a physician are under control.
Smoking adverse effects the amount you pay for life insurance. If you smoke and depending on your age, your premium could be 50% to 100% higher than a non smoker. This is due to the rate rate of people who smoke. People who smoke are at greater risk to develop lung cancer, emphazema, and life threatening diseases. In other words the chances of you dying if you smoke are increased. The insurance company in turn passes the cost of the risk on to the consumer.
If you have been convicted of Driving While Under the Influence of Alcohol, you stand a good chance of paying a higher premium or possibly getting denied Life Insurance coverage. Each company has different underwriting guidelines, so be sure and check with the company before putting yourself through thewriting process.
If none of the above applies to you and you qualify, the average cost of term life for a 53 year old male will be somewhere around 60 to 70 dollars per month for a 20 year, 100K policy. Prices will differ from company to company.
As always, you should consult with and experienced and trusted agent.
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Source by Mark Wahl
