Y O U R L I F E S T Y L E M AY B E C A U S I N G Y O U T O PAY E X T R A F O R Y O U R L I F E I N S U R A N C E

B Y M A R C F I R E S T O N E

W H E N D E A L I N G W I T H L I F E I N S U R A N C E , I T I S I M P E R AT I V E Y O U U N D E R S TA N D H O W Y O U R L I F E S T Y L E C A N I M PA C T T H E F I N A N C I A L C O S T F O R Y O U R L I F E I N S U R A N C E P O L I C Y.

Typically life insurance is chosen based on the needs and goals of the owner.

But much of your premium can force you to pay extra if you are an adrenaline junky, a cancer survivor, or a person convicted of drunk driving. For these individuals, there will be an extra charge in your life insurance quotes.

U S U A L LY, Y O U R A G E , H E A LT H , A N D S M O K I N G S TAT U S A R E T H E FA C T O R S T H AT M O S T A F F E C T Y O U R L I F E I N S U R A N C E R AT E S .

B U T T H E R E A R E O T H E R FA C T O R S T H AT C A N R A I S E T H E S E R AT E S .

M U C H O F T H I S AT T R I B U T E S T O T H E I D E A O F R I S K O F D E AT H .

Sometimes these charges might be temporary. But depending on the situation and your overall status, they can last as long as your policy does.

Below, you will find the three most common scenarios that can increase your life insurance rates.

If you fall into one of these categories, make sure you understand your policy and why you are paying that rate.

C A N C E R S U R V I V O R S

Depending on your specific diagnosis, your treatment, and the length of time you’ve been cancer free, cancer survivors are given a premium and a specific package when purchasing life insurance.

The National Cancer Institute had recorded that nearly 40% of us will be diagnosed with cancer at some point.

One thing to keep in mind is that unlike other clients, a cancer patient will have to wait one to five years to buy life insurance after their completed treatment.

This is done because of the high chances of death for cancer patients.

Even when these individuals are eligible to buy coverage, life insurers will usually charge them temporarily flat extras.

L I V I N G D A N G E R O U S LY

F O R T H O S E O F Y O U W H O A R E A D R E N A L I N E J U N K I E S , B E AWA R E T H AT Y O U R L I F E S T Y L E M AY TA K E A T O L L O N Y O U R L I F E I N S U R A N C E R AT E S .

P E O P L E W H O E N G A G E I N D A N G E R O U S H O B B I E S S U C H A S J U M P I N G O U T O F A P L A N E , H A N G - G L I D I N G , D E E P S E A D I V I N G , A N D R O C K C L I M B I N G A R E E X P E C T E D T O PAY M O R E W H E N B U Y I N G L I F E I N S U R A N C E .

F O R E X A M P L E , S K Y D I V E R S T Y P I C A L LY PAY A F L AT E X T R A O F $ 2 . 5 0 T O $ 3 . 0 0 P E R $ 1 0 0 0 O F L I F E I N S U R A N C E C O V E R A G E I F T H E Y J U M P N O M O R E T H A N 5 0 T I M E S P E R Y E A R . T H I S N U M B E R O F C O U R S E I N C R E A S E S T H E M O R E J U M P S T H E Y H AV E .

Other dangerous hobbies involve different flat extras:

Aviation: $2.50 for pilots over age 26 who fly 301 to 600 hours per year; $5 for those who fly more than 600 hours.

Hot air ballooning: $0 to $2.50.

Hang gliding and paragliding: $2.50 to $7.50.

Diving: Generally $0 for those who dive to less than 100 feet; $3.50 to $5 for deeper dives, depending on number of dives per year.

Climbing: $2.50 to $3.50 for those who climb up to 13,000 feet; $5 to $7.50 for those who climb higher.

Auto racing: $2.50 for drag, sprint and modified racing. Charges for other types of racing vary.

D R U N K D R I V E R S

U N D E R S TA N D A B LY, T H O S E I N D I V I D U A L S W H O H AV E I N S TA N C E S O R S I T U AT I O N S T H AT P U T T H E I R L I V E S AT R I S K C A N U LT I M AT E LY C O S T T H E M I N T H E E N D .

I F Y O U H AV E B E E N C O N V I C T E D O F D R U N K D R I V I N G W I T H I N T H E PA S T T E N Y E A R S , Y O U W I L L B E E X P E C T E D T O PAY A N E X T R A C H A R G E O N Y O U R R AT E S .

T H I S I S A B O U T $ 7 . 5 0 F O R E V E R Y $ 1 0 0 0 O F C O V E R A G E .

I N A D D I T I O N , T H E R E I S A S T R O N G P O S S I B I L I T Y T H AT Y O U C A N B E D E N I E D C O V E R A G E A LT O G E T H E R I F Y O U H AV E M O R E T H A N O N E D U I C O N V I C T I O N .

T H I S I S B E C A U S E Y O U A R E P R O V I N G T O H AV E A H I G H E R L I K E L I H O O D O F G E T T I N G I N T O A FATA L C R A S H .