This post is sponsored by Aflac.
Life insurance can be a useful tool to help you plan for the financial security of your loved ones after you pass away. These policies pay benefits to your designated beneficiaries after you die, provided you’ve paid all of your monthly premiums to keep them active. However, life insurance policies don’t cost a standard rate. There are a number of factors that go into determining life insurance rates, including your health. A life insurance calculator can help you identify how specific health conditions may affect specific policy rates, but we explore the general factors that impact rates here.
What factors impact life insurance rates
There are several important factors that may determine your life insurance rates:
Type of policy
Term life insurance is a type of policy that covers a specific term, usually between 10 and 30 years. If you die within this term, your life insurance beneficiary will receive the death benefit. Whole life insurance, on the other hand, is valid for your entire life, as long as you pay your premiums. These policies tend to be more expensive than term life insurance policies.1
Age
Age is the primary factor affecting the cost of life insurance premiums.2 Younger people with longer life expectancies who are less likely to contract an illness will usually pay lower premiums than older people. Some companies may not offer life insurance to people over a certain age. Life insurance premium costs tend to increase for every year of age, so the longer you wait, the higher your premiums are more likely to be.3
Gender
On average, women tend to live five years longer than men, which is why they typically pay less for life insurance premiums.2 Living longer means they pay more in the long run.
Lifestyle
Risky lifestyles and habits may lead to higher life insurance premiums. For instance, if you work in a dangerous profession, like mining or trucking, or have risky hobbies like scuba diving or rock climbing, you’ll likely pay more for life insurance. Likewise, life insurance companies tend to charge smokers more because they are at a higher risk of developing health conditions. Even occasionally smoking tobacco could mean you’ll pay higher premiums.
Family medical history
Experiencing certain health conditions, like strokes or cancer, is more likely if you have a family history of these ailments. Life insurance companies often factor in your family medical history to determine premiums, and will ask about any conditions your grandparents, parents, or siblings have experienced.
Current health
The underwriting process for most life insurance policies usually includes a medical exam. This exam records your height, weight, blood pressure, cholesterol, and other vital health metrics.2 In some cases, you may also have to submit an electrocardiogram to confirm your heart health.
Serious medical conditions like high cholesterol, diabetes, or a medical history that could make you more susceptible to future medical events will likely raise your premiums. Some insurance companies may deny you coverage outright. Younger people may qualify for life insurance policies without medical exams, but may have to pay more for coverage.
How much life insurance do I need?
While life insurance policies may be more expensive due to existing health conditions, premiums are also influenced by the policy value and features. Policies with larger benefits and greater customization tend to be more expensive. As such, you might need to weigh the following factors when determining how much coverage you need:
- Plan cost: Pricing may vary based on the factors above, but you have some more control over the plan cost by choosing the policy value. Your monthly premium will be lower with a smaller death benefit.
- Dependents: If you’re married with children, you must consider how much financial support they will need if they were to lose your income.
- Debts: Your debt may pass to your spouse or dependents, so you should always consider how much you owe on a mortgage, student loans, car loans, credit cards, or other debt. A death benefit could help your family pay off this debt.
Some ways to figure out how much life insurance you need include multiplying your income by 10, or getting coverage worth 10 times your income plus $100,000 per child for their college education.4 You can use a life insurance calculator to determine how much coverage you need.
The bottom line
Your current health is a significant factor in determining life insurance rates, but it’s not the only one. Your age, gender, lifestyle, family history, and policy specifics may all affect your monthly premiums. While some factors are outside of your control, you can attempt to lower your premiums by leading a healthy lifestyle, avoiding risky activities, and choosing a policy that is within your budget and carries an appropriate death benefit.
Sources:
1 NerdWallet – Term Life vs. Whole Life Insurance: Key Differences and How To Choose. Updated May 29, 2025. https://www.nerdwallet.com/article/insurance/term-vs-whole-life-insurance. Accessed November 6, 2025.
2 Investopedia – 7 Factors That Affect Your Life Insurance Premium. Updated March 22, 2025. https://www.investopedia.com/articles/investing/102914/7-factors-affect-your-life-insurance-quote.asp. Accessed November 6, 2025.
3 Bankrate – Life insurance rates by age. Updated September 3, 2025. https://www.bankrate.com/insurance/life-insurance/rates-by-age/. Accessed November 6, 2025.
4 NerdWallet – How Much Life Insurance Do I Need? Use This Calculator. Updated October 7, 2025. https://www.nerdwallet.com/article/insurance/how-much-life-insurance-do-i-need. Accessed November 6, 2025.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent.
Aflac coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, Aflac coverage is underwritten by American Family Life Assurance Company of New York.
Aflac life plans – A68000 series: Term Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68200, A68300 & A68400. In New York, Policies NY68200, NY68300 and NY68400. Whole Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368100. In Delaware, Policy A68100. In New York, Policy NYR68100. B60000 series: In Arkansas, Idaho, Oklahoma & Virginia, Policies: ICC18B60C10, ICC18B60100, ICC18B60200, ICC18B60300, & ICC18B60400. Not available in Delaware. Q60000 series/Whole: In Arkansas & Delaware, Policy Q60100M. In Idaho, Policy Q60100MID. In Oklahoma, Policy Q60100MOK. Not available in Virginia. Q60000 series/Term: In Delaware, Policies Q60200CM. In Arkansas, Idaho, Oklahoma, Policies ICC18Q60200C, ICC18Q60300C, ICC18Q60400C. Not available in Virginia.
Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY, VA or VT. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations, and exclusions.
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Aflac New York | 22 Corporate Woods Boulevard, Suite 2 | Albany, NY 12211
