Seven Factors that Impact Life Insurance in Minnesota

Life insurance premiums can be a mystery, but Anchor Insurance Agency LLP believes that it doesn’t have to be. Located in Plymouth, MN, the agency and its team know that life insurance can be shrouded in myths and misconceptions.

Looking to make the process more straightforward, our experienced agents run through seven critical health and demographic factors that impact life insurance premiums the most.

Policy type

Policy length influences payouts and premiums significantly. Term life policies are typically less expensive. This is because permanent life policies carry guaranteed death benefits.


As you get older, insurance costs increase too. Since younger people have greater life expectancies, they also have more time and opportunity to pay premiums. That’s why locking rates in early is always encouraged.


Women also have longer life expectancies than men too. For this reason, women usually enjoy lower insurance rates comparatively.

Medical History

Insurance companies will also screen for pre-existing conditions, like cancer or heart disease. Severe medical red flags could exclude you from coverage entirely.

Family History

Your family’s medical history could lead to similar results. Underwriters will try to identify patterns of illness within your family, determining any likelihood that you may develop the same issues later in life.

Employment History

Some jobs are more dangerous than others. High-risk occupations, like logging or construction, may bring higher premiums.


This broad category attempts to get a more comprehensive snapshot of how you spend your time outside the office. Financial history, criminal records, travel overseas, hobbies, and substance abuse will all be considered.

Call Anchor Insurance Agency LLP

Serving Plymouth, MN, the agency can analyze these and other indicators to craft an individualized life insurance plan that’s right for you. Schedule an appointment today.