As you likely know, rates for life insurance vary based on a number of factors. One of these things that can have an impact on your underwritten life insurance rates, is your health.
For those who have never purchased life insurance before, you may want to understand a few factors that may be used to determine your premium rates when that time comes. Making a few simple changes to your lifestyle can help save money in big ways!
Do not try to lower your tobacco use, stop your tobacco use. Tobacco use is perceived to be extremely dangerous as it may lead to a multitude of health issues. Because of that, life insurers will most likely consider tobacco users to be a higher risk for fatality. Life insurance companies may still insure you, however; it may come at your expense with higher rates. Remember, you are considered a tobacco user if you smoke or use any non-smoking forms of tobacco.
An obese individual lives with the risks of suffering from a heart attack, stroke, diabetes or heart disease. Insurance carriers charge higher life insurance rates to those with an unhealthy height to weight ratio. By maintaining a healthy weight and lowering your blood pressure and cholesterol levels, you can increase your chances of obtaining the lowest possible rate – eventually leading to more money in your wallet.
Outside of lifestyles, here are some additional factors that may increase your rates as well:
Your driving history expressing significant amount of moving violations or conviction of driving under the influence (DUI)
Your family’s history of early deaths due to cancer, diabetes, or heart disease
Your history partaking in alcohol and/or drug abuse
If you are engaging in tobacco use or have an unhealthy height to weight ratio, think about making some lifestyle changes. They could help improve your life insurance rates and your health.
You’ve taken an important step by deciding to go through the life insurance application process. Here’s what you need to know.
Avoid misconceptions standing in the way of you getting—or keeping—the right coverage.