If you’re looking to buy life insurance for the first time, you may have to get a health screening. Don’t be afraid: a health screening could be your key to a lower rate! The health screening gives your insurance provider the most accurate picture of your health—and a healthy lifestyle could help you save money on your premium rates.
Life insurance rates vary based on a number of factors. Some of these you can’t change, like your driving record and your family’s health history. But some factors you CAN control and they could potentially affect how much you pay for coverage.
Here are three ways you can help ensure that both your body and your bottom line stay healthy.
Eating better and staying active reaps all kinds of rewards. Insurance carriers may charge lower life insurance rates to those with a healthy height-to-weight ratio. Keeping a healthy weight can decrease your risk of high blood pressure, high cholesterol, heart attack, stroke, diabetes, or heart disease—and increase your chances of obtaining the lowest possible insurance rate.
We know it’s tough to quit if you’re a smoker or tobacco user. But to save money on life insurance, don’t just try to cut down—it’s best to stop smoking altogether. If you’ve smoked at all in the last 12 months, you will be given a more costly smokers rate. Tobacco use is considered extremely dangerous as it may lead to many health issues, and users are considered a higher risk. Remember, you may also be subject to the smoker rate if you use any other forms of tobacco.
Reasonable consumption of beer, wine—or whatever your drink of choice may be—won’t affect your premiums. However, your life insurance provider could take a look at whether you’ve abused alcohol and drugs when determining your rate. Stay smart about drinking and your wallet shouldn’t take a hit.
Improving your health could improve your rate; it’s that simple.
At any stage in life – if anyone depends on you – there is a good chance that you need life insurance.
Unfortunately, many of us don’t put something much more important in the “must have” column of our budget: life insurance.