Education may be associated with a certain lifestyle, level of access to health services, and the extent to which a person monitors their health and seeks medical advice.
“Education often influences the client’s lifestyle and health status. This information helps insurers better understand risks and determine the fair price of a product,” says Rakesh Goyal, director of reinsurance company Probus.
Such factors can affect insurer's decision to issue a policy, the amount of insurance compensation, or even the cost of insurance. Some insurance companies may consider education as part of client's overall health picture when calculating life insurance risks.
Photos are from open sources.
