Out of the individuals who do not own life insurance, many cite the cost as the reason. In fact, studies conducted show that people think life insurance costs about three times more than it actually does. That’s why it always pays to do your research, rather than rely on an assumption.
However, even if the actual cost is lower than you thought, it can still put a bit of strain on a tight budget. So we’ve compiled a list of five things you can do to lower your life insurance rate. As always, contact your independent insurance agent for a personalized quote.
1. Avoid tobacco products: You already know that smoking causes disease and lowers your life expectancy. This risk causes life insurance rates to skyrocket up to four times of those for non-smokers. If you don’t smoke, simply do not pick up the habit. If you do smoke, take steps to quit. Just one smoke-free year may mean lower rates.
2. Maintain a healthy weight: Obesity is also associated with health risks and a shorter lifespan, which may result in similar rate hikes as those for smokers. Maintaining a healthy weight gives you your best shot at staying healthy for years, which may also result in lower rates.
3. Keep your health in check: A minor health issue like high blood pressure doesn’t necessarily cause your rates to go up, so long as you stay on top of it. Visit your doctor regularly, follow his or her medical advice and make healthy choices. Being conscientious about your health does not go unnoticed by insurers.
4. Avoid risky activities: Hobbies like painting and reading are relaxing and safe, whereas hobbies like skydiving and rock climbing can possibly be fatal. Avoiding risky hobbies helps keep your life insurance rates lower.
5. Get coverage now: Younger individuals are generally in better health than middle-aged individuals. Getting life insurance now can lock in the lower rate associated with good health.
Interested in getting a quote? Call John L Sprague at 301-934-6010 for more information on La Plata life insurance.