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Question:
My husband has a dangerous profession for a career, our concern is that whether he will be qualified for life insurance.
Claire
Chicago, Illinois
Answer:
The insurance company will ask detailed questions which are used to assess the prospective customers’ mortality risk, and they will decide whether you are insurable or not based on your answers to the questions.
If you are insurable, insurance companies often charge a higher premium to offset this additional risk while you are doing a risky job.
Life insurance premium rates can be different from one company to another, so it is good idea to shop around for the best price. To save your time comparing prices, you can just use this side and find the most affordable one in only minutes.
Wish you and your husband good luck all the time!
-Author
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Question:
Do females have higher or lower rates for life insurance in Chicago?
Lily,
Chicago, Illinois
Answer:
Insurance companies do offer lower rates to women, that is, in most instances, women do usually have lower life insurance premiums than men
The reason for the lower premiums is that statistics indicate that women tend to live longer than men. As a result, the probability of having to pay a death claim is lower for women at each age.
Therefore, insurance companies charge women a lower premium than they must charge men for the same amount of life insurance protection.