Phil Cannella Complaints, Phil Cannella Lawsuit, Phil Cannella Reviews

Phil Cannella will tell you that your life expectancy plays the single largest role in determining your premium in certain insurance products, specifically life insurance. A great resource that Phil Cannella uses when working with clients is Investopedia. This resource is packed full with great information along the same educational line that Phil Cannella uses.

According to Investopedia, Life expectancy is defined as the age to which a person is expected to live. It can also be described as the remaining number of years a person is expected to live based on life expectancy tables issued by the Internal Revenue Service (IRS). There are several factors that affect your life expectancy. The two single most important factors are when you were born and your gender. http://www.investopedia.com/articles/insurance/09/life-expectancy-insurance-annuity.asp

Phil Cannella explains that there are other factors that contribute to life expectancy. Such as your race, your personal medical conditions and your family medical history. There is a direct correlation between your life expectancy and how much you’ll be charged for a life insurance policy says Phil Cannella. The younger you are when you purchase a life insurance policy the longer you are likely to live. Hence, there is a lower risk to the life insurance company because you are less likely to die in the near future, which would require a payout of the full benefit of your policy before you have paid much into the policy. Conversely, the longer you wait to purchase life insurance, the lower your life expectancy, and that translates into a higher risk for the life insurance company. Companies compensate for that risk by charging a higher premium says Phil Cannella.

Phil Cannella Complaints, Phil Cannella Lawsuit, Phil Cannella Reviews