LIFE INSURANCE PREMIUMS, ITS AFFECTING FACTORS & HOW?

There are a number of factors that affect life insurance premiums and many different ways in which the premium is affected. In Canada the importance of Life Insurance is to a huge level & depends on the circumstances and the risk factors associated. The current pandemic, i.e. COVID-19 is the most recent example. This is more importantly of how life insurance holds importance for Canadians. Especially for those people who are highly prone to get the pandemic due to age concerns or their health history. For some people irrespective of the risks associated COVID-19 is a huge threat and needs life insurance as a backup. Life insurance premiums vary significantly according to age, occupation, health hazards & risks levels associated. On top of this, also the different number of factors that can affect the life insurance premium figures.