There are many factors that can affect your life insurance rates. If you are trying to get a high benefit policy for a low rate, the following tips can help you achieve that goal.
One of the best ways to lower your insurance rate is to quit smoking. Smokers automatically pay a higher premium. Once you have quit smoking for a year, contact your insurance company and you will qualify for a lower rate.
The next factor that can help your rate is your weight. Overweight people are assessed a higher premium because they are at risk for many serious health problems. Once you get your weight into the healthy range, let your insurance company know you want to receive a medical exam and get your rate lowered.
Another factor that your life insurance rate is based on is your line of employment. If your job falls into what is considered high risk, you will pay a higher premium. In this situation, the only way to lower your premium would be to switch professions. Take all issues into consideration before you make your final decision, and then contact your life insurance company when you have secured a new job.
Life insurance companies also take into consideration what sports you play. If you play a sport with a high chance of serious injury you will need to eliminate that sport from your life to lower your rates.
Finally, do not forget to shop around. Check if your employer offers life insurance as an optional employee benefit. Compare different insurance plans and different insurance companies before you make your final decision. This can be done very quickly and easily online.
Choosing the correct life insurance policy is an important decision that will impact your financial future for many years. Making these changes can help you lower your rates and get the best policy money can buy.