Your Habits can be Costly
When you apply for life insurance, your premiums will be based on how healthy the insurance company thinks you are, and how long they think that you will live. Some people have habits or health conditions that insurance companies believe will cause them to have a shorter lifespan. When that happens, they have to pay more money in health insurance costs. If you want to save on your insurance, making these changes could reduce your life insurance costs.
Smokers have to pay more money for their life insurance than non-smokers do. If you currently smoke, quit. Not only will you be healthier, but you will probably see a discount on your life insurance rates after you have been smoke free for at least a year. If you are an ex-smoker that purchased insurance while you were smoking, contact your life insurance company, or shop around to try to find a discount.
If you are overweight, you will probably end up paying more in life insurance than someone who is at a healthy weight. The more overweight you are, the more you will pay in insurance premiums. Even if you are unable to get to your ideal weight right away, getting closer to the weight you should be can reduce your life insurance premiums. If you have high blood pressure or cholesterol, losing weight may also help with that, which will further impact your life insurance premiums.
Good drivers are less likely to get into car accidents. Your insurance company will probably charge you more if you have a history of tickets or driving incidents. If you have had multiple speeding tickets, your life insurance company will probably find out about it when you apply for insurance. Accidents can similarly affect your rates. Drive safely, and if you have had a clean driving record for a while, you might discover that your rates are lower if you shop for insurance again.
Drop the Dangerous Habits
If you participate in risky activities, your life insurance premiums might reflect that. If you spend your free time skydiving or racing cars, you may end up spending more money on your life insurance premiums than someone who collects stamps for fun. Your employment might also be considered high-risk by some insurance companies. Not all insurance companies consider the same hobbies and occupations to be high risk, so you may want to shop around if you participate in an activity that could be considered risky.