Trying to find  life insurance that has great coverage with affordable rates can sometime be intimidating and very frustrating.  Because none of us are perfect insurers will often ask a lot of questions, and will need you to submit a medical exam to determine how much of a risk you are to them, which will determine your life insurance rates.Whether it is your first time looking for life insurance or if you are trying to find a more affordable policy then it pays to know what criteria, and details the insurance companies base the rates on. Knowing what the insurance companies are looking for will help you to lower your existing insurance rates, or find the best rate right from the get go.Before purchasing any life insurance it is very important that you determine exactly how much you need and what type of policy would be best for your lifestyle.  When buying insurance you do not want to skimp on the coverage or the length of time the policy is active in order to save some money. This will undoubtedly lead to the policy expiring before you need it, or will not pay out enough to cover your family or loved one’s costs.Factors that Affect Rates:Age and Gender – These are the 2 biggest factors in determining how much you will pay for life insurance.  The younger you are the less of a risk you are for the insurer therefore your rates will be much lower than somebody in their high 40′s or 50′s.  Women also receive much better rates than guys do as they have a longer life expectancy and this means more years of paid premiums before the insurance companies will have to pay out on the policy.Smoking Habits – Smoking also has a very negative impact on your life insurance rates. It is estimated that a 40 year old smoker will pay on average about 3 times as much as a non smoker would for the exact same life insurance policy.  In order to get a lower rate most insurers will require you to stop smoking for 1-5 years before they will consider dropping your rate.Health and Family History – This is obviously another big factor in determining how much you will pay for your insurance premiums.  Again the insurance company is worried about risk and the more unhealthy you are the more of a risk you become.  This includes things like obesity, hereditary conditions, high/low blood pressure, cholesterol and many other issues.Driving Record – Yes believe it or not the life insurance companies do look at your driving record to see what kind of a driver you are. If you are notorious for getting into fender benders, and own a nice collection of speeding tickets then you become a huge risk for the insurance companies and your rates will fly sky high.  Insurers will usually allow one speeding ticket to slide however any more than that and you’ll be paying for your lead foot.

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