Over the past few years, life insurance premium have been falling by about 3% to 5% per year, unlike the cost of auto and homeowners insurance. The healthier you are, the higher your chances of getting an affordable life insurance policy and get coverage for less than you are paying now. Due to increasing life expectancies, people are living longer and paying for their life insurance premiums longer.

What Factors Have Accounted for Life Insurance Being Affordable Today?

Unlike in the past where most term insurance companies had three classes of insurance; namely preferred, standard and smoker, insurers have now revised the way they assess risk. In the past, even if one is in pretty good health, they would generally pay the same premium as everyone else.

Nowadays, insures are making a more thorough analysis of the health condition of an individual customer, because someone who is not overweight, and who has low cholesterol and no family history of major medical condition is a better risk than an average healthy person. Based on this detailed analysis of individual customer