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YOUR life insurance company doesn’t care how much you think your life is worth, so long as you are prepared to pay a premium that covers your chosen sum. Instead, insurers are concerned with how likely it is that you will die before the end of your policy, because that determines whether they have to pay out.
Despite actuarial science remaining something of an art at the moment, the number of data points insurers can use to measure our likelihood of an early death is growing exponentially. As well as our family history of illness, whether or not we smoke…
