If you’re looking to secure life insurance for your loved ones, you may have questions about the process. One main question on your mind may be how much life insurance costs to obtain. Monthly life insurance premiums are calculated on a variety of factors. Learn more below. Life insurance premiums are calculated after looking at an individual’s health risk factors, such as tobacco use, cholesterol level, obesity, diabetes and family history. Modifying controllable health and lifestyle factors will reduce your life insurance premium, in addition to making you healthier. 
What Happens When You Apply for Insurance?
When applying for life insurance, you will be asked to provide information about your medical history and take a physical examination. This is because life insurance premiums are calculated after looking at an individual’s health risk factors, such as tobacco use, cholesterol level, obesity, diabetes and family history. Modifying controllable health and lifestyle factors will reduce your life insurance premium, in addition to making you healthier.
If you are not completely truthful about your medical history, you may lose your policy or, when you die, your dependents may be denied benefits. Therefore, it is imperative that you tell the truth throughout this process.
In regards to the examination process, a medical professional hired by the insurance company will typically conduct the exam. This person will check your weight, blood pressure and other vital signs. After this process, the insurance company will determine your premium.
How to Lower Your Premium
Do you have family members who nag you about exercising more, eating healthier, quitting smoking or lowering your blood pressure? It might be time to start listening to them. After all, living an unhealthy lifestyle and being diagnosed with preventable complications (e.g., smoking-related asthma) will only increase your premium.
There are health factors that you can alter to lower your premium. For instance, you could:
- Stop smoking
- Lose weight
- Improve your cholesterol levels
- Take your medications regularly
If you have taken the steps to improve controllable health factors since obtaining your life insurance policy, such as quitting smoking, you should contact the insurance company and ask about lowering your premium.