Seven factors guaranteed to affect life insurance premiums in NJ
Freepik Life insurance is a great way to protect a family financially after a loss and because of this it is considered to be one of the best investments a consumer can make. While savings is important, it is also important to note that there are advantages to certain policies with different factors affecting different premiums. Age: The Number one determining factor in the price of life insurance policies in New Jersey is the age of the policy holder. A younger individual's policy will be considerably lower than that of an older customer, as the risk of health problems rises as we rise in age. The difference in price between that of a 25 year old, and that of a 60 year old, can be as much as three folds in cost. Smoking: This is the second biggest factor in determining life insurance premiums in New Jersey. Being a smoker presents a difficult risk for life insurance companies, as the liability to insure is higher: Their risks of being pre-determined to certain illnesses...