Applicant The insurance premium that will be charged is based on your insurance history, where you live, and other aspects of your life. Rating criteria will vary from insurer to insurer.
Insurance scores are used by some businesses and can be determined by a variety of personal factors, including a person’s credit score, the frequency of car accidents, their claim history, and even their occupation.
These elements frequently convert into limits on an insurance contract expense.
Other individual-specific risk factors, such as age and health conditions, will also be taken into consideration when purchasing life insurance.
Like any other business, insurance companies have a set of ideal customers.
Insurance companies will create programs or discounts to assist in attracting their target clients and will determine the client profile they want to attract in order to be competitive.
