Direct answer
It depends on your age because insurance companies view older applicants as having a higher mortality risk, which leads to significantly higher premiums compared to policies purchased at a younger age.
Standard actuarial mortality tables used by life insurance underwriters to calculate risk-based pricing. For additional information about how mortality statistics impact premium calculations, see the Society of Actuaries‘ research on actuarial standards and mortality tables.
What this means for you
It depends on your age because insurance companies view older applicants as having a higher mortality risk, which leads to significantly higher premiums compared to policies purchased at a younger age.
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