Investing in life insurance can be an intimidating thought. It is safe to say that the younger and healthier you are, the lower your insurance costs will be. This is because a healthy person has a lower risk of dying as compared to a person with an unhealthy lifestyle. Hence, if you are thinking about life insurance here are a few tips that could help lower the cost of your insurance.
A smoker has to pay a much insurance premium as compared to a non-smoker of the same age. In some cases, this can be as high as triple the premium. So, if you smoke or use any other tobacco based products, now is the time to quit. You will be considered a non-smoker after you have quit smoking for at least 3 to 5 years.
Lose some Weight
A number of health issues are caused by being overweight. Hence, insurance companies consider obese or heavy people a high risk and hence charge them a higher premium. Maintaining a healthy BMI can help you live a longer, healthier life by reducing your risk of heart diseases, blood pressure problems etc.
Schedule an Early Physical
A thorough medical examination is one of the prerequisites of most life insurance policies. Try and schedule this exam in the early part of the day or on a day when you are relaxed and well rested. This is because studies show that testing for blood pressure, cholesterol etc. have lower results in the morning as compared to in the latter half of the day after you have had a stressful day or eaten a heavy lunch. Fasting for 24 hours before your physical could also help lower your cholesterol count.
If you suffer from a preexisting condition it may be tempting to try and hide this information from your insurance agency. However, doing this could cause you a lot of trouble. In most cases, the insurance company will recognize your health condition during the review of your medical history and medical exam. Since you did not disclose this condition, you will then not have an opportunity to explain the situation.
Along with your health records, an insurance agent might also ask for your driving record. While this may seem unconnected, it is not. According to many insurance agencies, a driver who frequently breaks traffic rules is likely to put himself or herself in a dangerous situation and hence is considered a high risk. So, if you have more than the occasional ticket to your name, it may be wise to wait a few years before applying for insurance and drive more carefully in the meantime.
Keep an Eye on Insurance rates
Like everything else, insurance policy rates also change from time to time. Thus, even if you have already bought a life insurance policy, it is important to review and compare policies every few years. Affordable Life USA has great rates on life insurance. Along with comparing quotes, you should also update your policy from time to time to reflect the changes in your personal situation.