Life insurance premium pricing depends on your medical information and behaviors. Medical information is collected such as gender, age, smoking status, health history, current medical condition, etc. Behaviors like dangerous recreational activities, hazardous vocations and motor vehicle violations can also impact the price tag.
The information need to obtain life insurance will vary depending on what type of policy you get. If you want a No Exam policy with few health questions, the information asked will be much less than if you get a medically underwritten policy that requires an exam. Your date of birth, address, and Social Security Number are needed to get even guaranteed issue life insurance, which asks no health questions.
Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
The identity of the insured must be verified as well as the address, age and health condition. Also taken into consideration are the insured's occupation and avocation. Most of this information is with regard to risk factors. The positive identity and address are relative to compliance with the provider's jurisdiction and US anti money laundering laws.
There are a considerable number of questions asked relating to health history, but also some with regard to avocations and out of country travel intentions. Again mostly related to risk.
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There are a considerable number of questions asked relating to health history, but also some with regard to avocations and out of country travel intentions. Again mostly related to risk.