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    Factors that Influence Your Life Insurance Premium | PNB MetLife


    Factors that Influence Your Life Insurance Premium

    Last Updated On 07-08-2020

    You must have heard that life insurance is one of the most opted means of financial security for your family and loved ones that helps them sail through an unfortunate event. However, it is also to be noted that it is also a form of investment. Every year you are expected to pay your life insurance premium regularly and diligently. Thus, over a period of time, even a lower premium of life insurance can result in a substantial amount of savings over the years. Therefore, there are certain factors that affect your life insurance premium, which you need to take into consideration to ensure you get a low life insurance premium on your policy.

    Though, there are a few factors that are outside your control; there are a few which you can remedy by improving your lifestyle choices to avail a good premium on life insurance. Some of the factors affecting life insurance include:

    1. Age

    The younger you are, the fewer are your responsibilities. You have a long life ahead of you, and your propensity to fall ill is also less. As a result, the policy premium is lower for younger individuals.

    2. Gender or Sex

    Insurance companies take into consideration the tenure for which they would receive the premium amount. Based on several statistical studies, women tend to live longer. Therefore, women usually pay a life insurance premium lower than a man. Also, to attract women towards purchasing life insurance, 

    3. Overall Health

    Most life insurance companies require you to participate in a medical examination which aims to determine your health. This records the height, weight, cholesterol, blood aspects, and other metrics. These key life insurance factors are considered during the underwriting period, and a satisfactory health report can provide you with the benefit of a lower premium on your life insurance. There are a few insurance providers who offer you “no medical exam” plans, but in these cases, the premium payable is on the higher side.

    4. Smoking

    One of the factors that affect life insurance premium is the habit of smoking. Insurance companies consider this as a red flag since it often leads to numerous ailments. Most smokers often also have to bear life insurance premiums double the normal amount. So, kick this habit if you want to go easy on your pockets with your insurance policy!

    5. Family Medical Histor

    Many ailments act as carriers and are often passed on from one generation to another. Therefore, a history of heart ailments, diabetes, stroke, cancer, etc. can be passed down your gene pool. This is one of the key factors affecting your life insurance premium.

    6. Hobbies

    Though, this may seem unreal; insurance companies take your hobbies into consideration quite seriously. Do you enjoy racing fast cars? Or bikes? Or rock-climbing? Many of these hobbies fall into the high-risk category and may have a substantial impact on your life insurance premium. High-risk activities can, in serious instances, go terrible wrong and therefore, premiums on life insurance for such hobby enthusiasts are high. 

    7. Occupation or Job

    Ever thought how your job or profession can impact your premium amount? Well, they do! High-risk job profiles such as a pilot, skydiver, people dealing with toxic chemicals or in factories, race car drivers, etc. are always at the risk of some unnatural calamity. Premiums on these profiles are always on the increasing trend. 

    8. Policy

    Last but not least, your life insurance premium depends on the type of policy you opt for. Several policies offer numerous benefits or longer terms as compared to others, which will generally cost you a lot more than your basic policy. 

    Understanding the key life insurance factors can go a long way in your overall savings and lower premiums. Taking corrective actions on these factors such as better health, dropping the smoking habit, taking care of your health, can go a long way in your betterment.   

    Visit PNB MetLife to know more about Long Term Savings, Term Insurance & Term Plan


    The aforesaid article presents the view of an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability or medical complications incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ health advisor before making any decision.

    PNB MetLife India Insurance Company Limited
    Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka.
    IRDAI Registration number 117 | CIN U66010KA2001PLC028883
    PNB MetLife Mera Term Plan is an Individual Non-Linked, Non-Participating, Pure risk premium Life Insurance Plan | Product UIN Number – 117N092V03
    #Maximum maturity age: 99 years for all options (except Joint Life cover option), Joint Life Cover option: 75 years (applicable for both Primary & Secondary life).
    For more details on risk factors, please read the sales brochure and the terms and conditions of the policy, carefully before concluding the sale.
    Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject to change from time to time.
    The marks "PNB" and "MetLife" are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969.. Phone: 080-66006969, Website:, Email: or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203


    • IRDAI is not involved in activities like selling policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

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    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at or You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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