How does my age affect my premium?

• Your age is one of the most important factors in deciding the premium.
• It is your age range during the term of the policy that is most important when calculating the premium.
• The maximum age you can insure yourself up to if you’re buying online, is 65.

When an Insurance Company considers whether it will agree to insure you, it is assessing how likely you are to make a claim. Obviously, the older you are, the more likely you are to die or to become seriously ill. So there are two important aspects in the calculation - your age when you take out the policy and your age when the policy is planned to terminate. Basically, the longer and older the age range, the higher the risk to the Insurance Company, and higher risks are reflected in higher premiums.

Almost all life Insurance Companies will insure you up to the age of 65 but very few will go beyond. Very few will insure you to 70 years of age (and when they do the rates are extremely high). For this reason, 65 is the maximum age you can insure yourself to here online.

Of course, age isn’t the only element that affects price. Other important factors are the level of cover you want, whether you are male or female, whether you are a smoker, your occupation and health record.

Please note : The information contained within the FAQ section has been written by Mortgage Protected Online

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