It’s common for people who want life insurance to shop around until they find a carrier with the lowest rates. However, you shouldn’t limit yourself to this alone because there are many additional things you can do that will also lower your rates regardless of the insurance provider. Here are five additional ways that we would like to share with you:
Smoking shortens life expectancies by as much as 25 years. This means that a smoker is a poor insurance risk and will have to pay a higher premium as a result. Their rates can be as much as 50 percent higher than those who don’t smoke. By quitting, you not only get a substantial premium reduction, but also benefit from a healthier and longer life.
Improve Your Driving Record
Those with poor driving records have a higher mortality risk because they are more likely to get into accidents. Insurance companies have plenty of statistics that back this up and they adjust their premiums accordingly. Observe the traffic laws, never allow your schedule to affect your driving, and drive defensively.
Buy Insurance Earlier
The younger you are, the lower your life insurance premium. People in their prime suffer fewer health problems and have most of their lives ahead of them. This makes them excellent health insurance prospects. By getting insured while young, they lock themselves into a lower rate. That adds up to an enormous savings over a lifetime.
Live A Healthy Lifestyle
Over the long-term, regular exercise combined with a heart healthy diet means you will have excellent cholesterol and blood pressure levels. You will be less likely to suffer from heart disease, diabetes, or obesity. In short, you will ace your life insurance physical exam. Excellent health means a longer life which means a lower life insurance premium.
Get Term Life Insurance
Term life insurance takes effect over a limited period of time while whole life is a lifetime policy. The short-term nature of the policy usually means that you pay a lower premium. However, this strategy only works for the short-term because when the policy expires, getting insurance with the same coverage will likely mean a higher premium.
For help in finding the best life insurance policy for you, please contact us.