Without a doubt, life insurance is one of the most important considerations that an individual should make, especially if he or she is the breadwinner. Life insurance is a sign of love, especially to the people who will be left behind in the event that an individual dies, because there are numerous financial obligations that result from the occurrence. Although life insurance will not bring a deceased back to life to comfort the family and friends, at least it will take care of all the hospital and funeral bills incurred, in addition to helping the family to maintain their standard of living.One of the things that make people not to take up life insurance is the premiums that they have to pay, since in particular circumstances it can be very costly. Answering the following questions will help you understand why one is paying what he or she is paying.How healthy are you?The insurance company will have to look into the health records of an individual in order to determine how much they will charge him or her. Senior life insurance premiums are likely to be much higher for an applicant who has poor health. Therefore, if you want to pay less, you need to start adopting a very healthy lifestyle.Are you a smoker?Smoking is another thing that will increase the amount that one is sure to pay. Smoking exposes an individual to numerous health complications, issues that can easily be avoided by simply choosing to stop smoking. People who are addicted to smoking should start looking for ways to get rid of the habit, since quitting will not only get them lower premiums, but it will also contribute to a longer and healthier life.Are you a man or a woman?This point might be considered to be a bit gender insensitive, but there are concrete reasons why a man and a woman ought to pay different premiums. In almost all the countries of the world, one is sure to find that the life expectancy of a woman is higher than that of a man. This means that the insurance provider is expecting the woman to make more contributions than the man, therefore the need to pay less.How old are you?Life insurance for seniors will be highly dependent on the age of the applicant. The rationale here is that younger individuals have a stronger immune system, one that is able to fight off diseases, compared to older people. Since the insurance company will cater for the medical expenses, a younger individual is less likely to incur the same medical expenses; therefore, he or she pays less.