What Types Of Life Insurance Do Ottawa Residents Need?
You have plenty of products to choose from. The option you choose depends on many personal factors related to your health, wellness, and finances. Here’s a list of the most common types of life insurance:
How Much Does Life Insurance Cost In Ottawa?
There are a lot of factors that go into determining how much you will pay for life insurance. But since there are so many personal considerations based on your health and wellness, it is challenging to provide an answer for the average cost. The cost of life insurance premiums can vary widely. It can be as little as $10 or $15 or more than $200 per month.
When thinking about plan types, term is the most affordable followed by whole, with universal being the most expensive of the plans that require medical testing. No medical policies are the most expensive. We also know that prices go up as you age. They also go up as you increase your limits and add more coverage. Compare life insurance quotes to get an accurate estimate.
What Has The Biggest Influence On Ottawa Life Insurance Rates?
There are a lot of areas of your lifestyle, behaviours and history that can affect how much you pay. Here are the top things that will influence your payments:
- Healthy individuals pay significantly less than those who have medical issues or are overweight
- Smoking can more than double your rates
- A poor family medical history can increase premiums by more than 200%
- Drinking regularly can boost your costs by 50%
- Females can expect to pay about 25% less than men.
- A poor driving record can increase payments by as much as 50%.
- Working in a dangerous occupation or having risky hobbies will increase your fees