The premium you pay for your life insurance can depend on a number of factors, such as your age, health, gender, lifestyle habits such as smoking or drinking, occupation, and other similar things. The cost is determined based on the risk associated with each of these factors. For instance, advanced age and health conditions can result in higher premiums, while individuals with healthy lifestyles and no history of illnesses may get lower premiums. Even though these factors affect your insurance cost, you must always disclose honest and relevant information to the insurance company.