Eligibility of Life Insurance
When calculating life insurance, insurance agents not only assess your financial documents, they also assess the risk factor by which you live your life. The insurance agency will take in basic factors such as age, sex, height and weight, individual and family health history, identity proof, employment status, marital status and number of children. Then they take into account existing insurance, the hazard levels at work, tobacco use, alcohol use, hazardous hobbies (such as bungee jumping) and travelling to dangerous countries which pose a threat to an individual’s life. Depending on your geographical location, citizenship or residency status in the country may or may not matter. This varies in different countries. In general, age eligibility would require the individual to be between 18-60 years old. Minors are ineligible for applying for insurance and senior citizens generally are not allowed to apply for life insurance as they have reached a high scale on their mortality index.