6 Lifestyle Changes That Can Lower Life Insurance Premiums
There are many reasons why leading a healthier lifestyle is beneficial. However, if you aren’t finding the motivation you need in order to make healthy changes in your life then perhaps thinking about it from a financial perspective will help. One substantial way that becoming healthy will save you money is through your life insurance premium. In fact, by making lifestyle changes you can potentially save thousands of dollars on your life insurance each year. Here are six lifestyle changes to make in order to obtain a lower life insurance premium.
This is a bit of a no brainer, however many people are not willing to quit smoking in order to save money. If you smoke and haven’t found the incentive to quit yet then think about the savings you can gain from doing so. Life insurers consider non-smokers as generally healthier people, which mean they live longer. Because of this, life insurers offer non-smokers a much better premium. Work to quit smoking in order to reap the benefits of this. According to MSN Money a 35-year-old non-smoker would pay between $725 and $800 every year for a 20-year policy that offers $500,000 of coverage. On the other hand a smoker will pay between $1,965 and $2600 for the same type of policy.
Not only do you look better without carrying around extra weight, but also there are many great health benefits to dropping a few pounds. For one you can significantly lower your cholesterol levels as well as blood pressure simply by losing weight, as well as lower your risk of getting chronic diseases like heart disease and diabetes. All of these contribute to better health, which in turn can lower your insurance risk and save you money. In fact, simply by losing seven pounds you can save as high as $10,000 over a twenty-year span on a twenty-year term life insurance policy.
If you are still driving like a teenager then it is time to grow up and start following all of the rules of the road. This means no more speeding and no more moving violations. Not only this is safer, but it can also save you a substantial amount of money on your life insurance premium. This is because life insurance companies tend to increase you premium if you have more than one moving violation tickets.
Cut Back on Alcohol
Drinking alcohol can cause a number of health risks, especially if you are drinking excessively. By drinking less or stopping your alcohol consumption all together, you can save money on your life insurance premium. In fact, you can save thousands of dollars over the course of your life insurance policy through minimizing your drinking’s impact on your driving and medical record.
Lower Your Cholesterol
There are a number of steps you can take in order to lower your cholesterol, however eating low-cholesterol foods is a good place to start. Due to the fact that high cholesterol is an indicator of heart disease, life insurance agencies tend to charge a higher premium for those with it. In fact, by lowering your cholesterol you could qualify for a preferred life insurance rate, which will save you about 30% on your life insurance premium.
Lower Your Blood Pressure
High blood pressure is also an indicator of heart disease, and so those with it usually do not qualify for a preferred rate. In order to save money on your life insurance premium, work to lower your blood pressure by exercising on a regular basis and eating healthier. This can save you up to 40% on your life insurance premium.
To Link To This Page