Life insurance premiums are calculated after looking at an individual’s health risk factors, such as tobacco use, cholesterol level, obesity, diabetes and family history of underlying medical conditions. While some aspects of your life insurance expenses are out of your control, modifying certain lifestyle factors can help reduce your premium, in addition to making you healthier. Keep reading to learn more about how life insurance premiums are calculated and what you can do to lower yours.
After the application process, the insurance company will determine your premium. Keep in mind that there are lifestyle habits that you can alter to lower your premium. For instance, you could:
- Stop smoking
- Avoid drinking excess alcohol
- Lose weight by maintaining a balanced diet and getting routine exercise
- Improve your cholesterol levels
- Take any necessary medications regularly
If you have taken the steps to improve controllable health risks since obtaining your life insurance policy, you should contact the insurance company and ask about lowering your premium.
Don’t ignore the importance of living a healthy lifestyle. Eating balanced meals, exercising regularly and quitting unhealthy habits can all help you avoid experiencing preventable complications (e.g., smoking-related asthma)—all while lowering your life insurance costs in the process. For additional lifestyle and well-being guidance, contact us today.
This blog is for informational purposes only and is not intended as professional advice. © 2008, 2011, 2016, 2021 Zywave, Inc. All rights reserved.