Insurance is a business of risk transference. The higher the risk, the higher the premium. There are 4 main factors that will affect the premium, mainly Age, Gender, Occupation & Smoking Status.

Of course there is also another factor which is the health condition of the applicant during application. Factor of weight (obesity) and health condition such as whether the person is hypertensive may also increase the risk ratio.

During application, if the client/agent fail to declare any significant information that may impact how the policy is underwritten may render the policy null and void which may result in the insurer not be liable to honor the claim.