Everybody wants to get the best life insurance premium possible, and there are many things that determine that premium. To get the best premium possible, you need to take a look at some of the determining factors and see what you can do to make yourself the best candidate possible.
Age has a lot of impact on life insurance premiums, because age and health generally go hand-in-hand. The older you are when you get insurance, the higher your premium is likely going to be.
While this is usually the most obvious factor, it isn’t always reliable because there are lots of very healthy older individuals and plenty of young people who aren’t nearly as healthy as they should be. Thankfully this is not the only deciding factor.
You will likely be asked many questions about your lifestyle. Things such as the amount of alcohol you drink will be considered. If you are more than a social drinker, you will have a harder time getting a great life insurance premium. Your career will also be examined. If you have a job that is generally considered to be “safe” insurers are happy to give you a good rate. On the other hand, if you have a hazardous job you may pay more.
Health and Habits
It makes sense that the healthier you are the better life insurance premium you will be able to get. Smokers rarely get very good rates because they have a higher chance of developing health problems. Individuals who are obese also face this issue. The further you are from your ideal weight, the more you will be charged for your insurance.
Many insurance companies require a basic health exam before they will agree to insure you. This is so they can see what kind of health you really are in. There are some companies that don’t require this exam, but you probably won’t get as good of a premium without an exam.
What You Can Do
If you are trying to get a good life insurance premium, there are things you can do to make your chances of this better. Getting yourself into good health overall is the goal, but there are small steps you can take to make this happen.
If you smoke, kick the habit. This one change will save you a lot of money on your premium each month. This is also a good time to start exercising and lose any extra weight you have. These couple steps will make you a much better candidate for low premiums.
Eating healthy and trying to reduce stress in your life are a couple other things you can do to make yourself healthier. Finally, take a look at the profession you are in. Switching may not be an option, but you may want to see if you could save a lot of money by moving to a less hazardous profession.
As you can see, just a few changes in your life can get you a better life insurance premium. Take a look at your life and see what you can change to make this happen.