Low premiums breadwinner

How to keep your insurance premiums low

Posted  August 27, 2013

For a parent and breadwinner with a family to support a life insurance policy is essential. In the event of your death your life insurance company will pay a lump sum to your policy beneficiaries, money that they can use to replace the income that you earned. If you are interested in investing in a life insurance policy, find out what you can do to keep your premiums as low as possible.     

  •  Stop smoking! As a smoker your premiums will immediately be  loaded
  •   Watch your weight. Find out what your Body Mass Index (BMI) should be. If you are overweight or underweight it will affect your premiums
  • Drink alcohol in moderation. The more you drink, the higher your premiums will be
  • Hypertension (high blood pressure) and Type 2 diabetes: if you have been diagnosed with either of these conditions your life insurance premiums will be loaded. There are, however, many lifestyle changes that you can make to control these conditions. These changes include a healthy diet and regular exercise
  • Recreational drugs: taking recreational drugs will also push up your premiums

Ultimately your personal health will impact your life insurance premiums. A clean bill of health and a healthy lifestyle will all add up to lower life insurance premiums. Stick to a regular exercise routine, eat a variety of foods including lots of fruits and vegetables, drink eight glasses of water a day and consume saturated fat, salt and sugar sparingly. And remember to steer clear of cigarettes and only drink in moderation.

And a final word of advice. Remember that the first rule of buying life insurance is to be completely honest with your life insurance company when answering their questions. If they find out that you have withheld any information your claims might be reduced or even rejected. Be honest with your insurer about your personal health, lifestyle and your family's medical history. It might mean that your premiums are loaded but that cannot compare to a rejected claim!

Interested in investing in Pure Life Cover from 1Life? Follow the link for a life insurance quote.

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