Several factors tend to influence the way insurance premiums are calculated. In this regard, the factors that determine insurance pricing include the age of an individual. The older an individual becomes, the higher premiums he/she is likely to pay for a given cover. Besides, the medical history is another aspect that determines the amount one pays for an insurance contract. The comprehensive life history regarding occupation and other engagements also influences the rates he/she is inclined to pay to take a specific insurance cover. The credit score is also considered to deduce whether the person can pay the premiums or not. These elements help in determining the legibility of insurance contracts and overall pricing.