The main factors
Age and health are the largest drivers, since they affect life expectancy. Smoking or vaping raises premiums significantly. The coverage amount, the term length, the policy type, and sometimes occupation and lifestyle also affect the price.
Smoking and health conditions
Smokers generally pay notably more than non-smokers. A stable, well-managed health condition may still qualify at a standard or slightly higher rate; the impact depends on the condition and the insurer.
How to keep it lower
Buying younger and healthier locks in a lower rate for the life of a term policy. Comparing insurers matters because each one prices conditions differently, which is where independent advice helps.
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Book my free review →Frequently asked questions
What affects life insurance premiums?
Age, health, smoking status, the coverage amount, the term length, and the policy type are the main factors.
Do smokers pay more for life insurance?
Yes. Smokers and vapers generally pay notably higher premiums than non-smokers.
Can I get coverage with a health condition?
Often yes. A stable, well-managed condition may qualify at a standard or slightly higher rate, depending on the condition and insurer.
How can I lower my premium?
Applying while younger and healthier locks in a lower rate, and comparing insurers helps because each prices risk differently.
This page is for general educational purposes only and does not constitute personalized financial, tax, legal or accounting advice. Figures, limits and coverage ranges are illustrative and change over time - verify current terms before acting. Insurance and registered-account eligibility is subject to underwriting and government rules. Compensation is disclosed in writing before any application is signed. Neelesh Kumar is a Licensed Life & Health Insurance Agent regulated by FSRA - verify at fsrao.ca. © 2026 Wealthready · FinanceWithNeelesh · Kitchener, Ontario.