Some people are required to pay additional premiums over those calculated based on statistics. People who engage in hazardous sports or activities such as mountain climbing, hang gliding or parachuting would be classified as a higher risk than someone who does not participate in such activities. Occupations associated with higher risk such as a helicopter pilot or bomb technician would also contribute to an individuals premiums being increased. If your family has a history of heart disease or cancer, for example, this wouldn’t mean that you could not obtain life insurance; these factors could, however, impact your insurance premiums. If you are in reasonably good health and haven’t shown the signs associated with the hereditary illness, your situation would be given individual consideration. Although your family’s history may increase your risk of certain illnesses, it doesn’t necessarily mean that it will pass along to you. Your premium would be based on the amount of risk the insurance company accepts by insuring your life. Since we don’t know if we will be the one in need, by purchasing life insurance we are willing to share the risk.

Premiums also vary widely from one type of policy to the next, especially among those that offer additional benefits allowing you to customize your plan.