There are several types of life insurance policies and yet the underlying requirement that applies to all is the payment of premiums. If you want your policy to continue and be assured of protection and coverage you have to pay the premiums at a designated schedule. Failure to do this will mean the termination of your policy and you might not be able to get any reimbursement of the premiums that you have already paid. Another important factor that can affect your insurability for life coverage is your health condition. You will be required to undergo certain physical and medical examination especially when you are older. At other times, you will be made to answer some questions on your physical health to ensure that you are healthy and expect longer life expectancy. In any case, if you are found to be with high health risks or your occupation exposes you to dangers that can be life threatening, you may be granted life insurance but with higher premiums.