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  • Writer's picturePeter C. Ciravolo

What doesn’t affect your insurance premiums? 

Although insurance carriers will ask you every single financial question and health question under the sun, there are many factors that don’t affect your life premiums that many people think do. 

The State You Live In

Although every quoting engine out there asks for it, insurance carriers do not change your pricing on the state that you live in. This applies to the United States only as I am not sure on other countries regulations. Carriers can limit their product offerings in certain states or are not allowed in certain states to regulations and departments of insurance. But even in cities/states where there is risk of earthquake, hurricane, or higher rates of violence – these factors are not taken into life insurance carrier pricing. 

The Number of Beneficiaries you have

Carriers also don’t care how many beneficiaries you have. You can have 1 beneficiary or 100, it doesn’t cost or affect anything on price. Now of course if you have a complicated estate, we recommend you work on setting up a trust and will with an attorney. Don’t have one? We would love to refer you to one of our preferred attorneys – flat rate, and we’ve vetted them!

The number of insurance policies you currently have

Carriers won’t raise or lower their rates due to how many policies you have. They can limit how much coverage they offer you, as it prevents someone who makes $100,000 a year to apply for $10,000,000 of total coverage without documentation and a letter of explanation. 

Contact BC Brokerage today for your insurance needs!

BC Brokerage


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