Top Factors That Impact Life Insurance Premiums


Life insurance is a crucial aspect of financial planning for any Texan resident. However, the premium rates can be confusing and overwhelming. You might be wondering why do the rates vary so much? Why do they change over time?

This blog post will explore the significant reasons behind these changes and help you find affordable options in Texas.

Why Do Life Insurance Premiums Increase?

Several factors affect life insurance premiums, leading to an increase in its rates. The State of Texas has strict laws that mandate insurers to provide coverage based on individual risk.

risk factors

Age, gender, occupation, health history, and lifestyle significantly impact your premium rates. Your premium rates could increase if any of these factors change over time. For instance, if you develop a health condition or take up a higher-risk job, your rates could go up.

Average Monthly Cost for Life Insurance

The average monthly premium rate for life insurance in Texas is around $44 for a non-smoker and $86 for a smoker.

It’s essential to note that these rates are averages and could change based on individual circumstances. Expenses such as medical tests, administrative costs, and rider options could increase your premium rates.

What Factors Affect Life Insurance Premiums?

Various factors could affect your life insurance premium rates in Texas. Let’s explore some of these factors in detail:

1. Age

Young adults typically pay lower premiums than older individuals as they have fewer health issues and a longer expected life span.

2. Gender

As per Texas law, gender-based pricing is prohibited; hence your premium rates are not based on gender.

3. Health History

If you have a pre-existing medical condition or a family history of illness, it could lead to higher premium rates.

4. Occupation

Your premium rates could increase if you have a higher-risk job, such as an adventure sports instructor or pilot.

5. Lifestyle Habits

Your smoking habits, drug use, alcohol consumption, and hobbies such as skydiving could lead to higher premium rates.

Get Affordable Rates with Pronto Insurance

At Pronto Insurance, we recognize the need for affordable, tailor-made coverage for our clients in Texas.

Our advisors have the expertise and knowledge to help you find the best solution to your needs. We offer personalized solutions based on age, health status, and financial goals. 

If you want more information, you can avail of a free, no-obligation quote to check out our competitive rates.

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