Life Insurance - Question about risk factors

[peg2001]

I'm casually shopping new life insurance and have been amazed at the premium difference caused by certain risk factors. My mom died at age 59 from cancer. Apparently, if she'd held on for a few more months and died at age 60, my life insurance premium would be HALF the amount.

Any advice on where to look, how to manage the risk factors? I have several things going for me: relatively young at 35, never smoked or used tobacco, no moving violations, no DIUs, etc. The only thing that is really hurting is the age my mom died from cancer.

Peggy

 

[CEDmom]

I would just keep shopping around. Every company is a little different in how they factor risks into a policy. The best advice I can give is to continue to be completely honest. A company can/will drop a policy or deny a claim if the policy holder knowingly withheld information. Have you tried using an online service that will provide quotes from many different companies? Here's a link to one:

http://www.intelliquote.com/default.asp?tproi_cid=42F348E6-9C40-4235-A7AC-A870C534ABF0

 

[peg2001]

Thank you for the link. I'll give it a try. I know that having family members die young from heart disease or cancer is a true insurance risk and I wouldn't even dare lying about it! How much protection would I be providing my family if the policy was voided?

I'm 35 shopping a 10-year term policy. . surely my risk of dying in the next 10 years is not twice as high as someone who did not lose a parent at age 59.

You have good advice to keep shopping around. Maybe some of the insurance companies factor that risk differently.

Peggy