The good news is that once you have been approved for a life insurance policy, accept it and are paying the premiums you do not have to worry about any changes in your health. When applying for life insurance, the life insurance company is looking at your current and past health. Once approved, you and the life insurance company enter into a binding contract and any changes in your health afterwards has no effect on your policy. On the flip side, you might already have a life insurance policy and have higher than normal premiums because you were in worse health than you are in today- even though you are older today. Depending on the situation, you may actually be paying too much for your life insurance and can get a lower rate. Maybe you had an increase in the cost of your policy due to travel, piloting a plane or deep sea scuba diving which you no longer do. It is also beneficial to stay on top of your financial security and review your options from time to time to make sure that you have the right policy in place.