Life Insurance – Smokers and Overweights pay over 50% more!
The price tag on life insurance is not the only thing that changes with your choice of lifestyle, either. Smoking and carrying extra weight greatly increase the probability of someone dying earlier than expected. These causes of death are also some of the most common preventable causes—which would create an excellent incentive for people to take steps to maintain a healthier lifestyle. For those who are interested in securing affordable life insurance but do not know how to obtain it, there is an abundance of information available online.
The following is a list of ways that your lifestyle choices can lower the cost of life insurance. For those of you who are happier to work with a human being, you can call on any one of the many independent agencies for low-cost life insurance quotes.
Smoking:
People who smoke pay more for their life insurance policy due to an increased risk of dying early and incurring higher medical expenses. In fact, in most cases, smokers' premiums are between 25% and 50% more expensive than those paid by non-smokers. If someone is just looking to get life insurance coverage to help support dependents in the event that they die, that extra 25% is definitely not worth it.
Overweight:
If you are overweight, then you need to make the determination of whether or not to go for a weight loss program. The cost of weight loss surgeries is prohibitively expensive, and in many cases, the insurance company will require those who are overweight to prove that they have attempted to reduce their weight through diet and exercise. If you have been struggling with your weight for quite some time, then it would be worth it to find out if the additional money will be worth it in the long run. If you do decide that a short-term insurance policy may be beneficial to your financial health, but are not interested in undergoing surgery, then obesity can definitely have an impact on your cost.
Age:
The price for life insurance increases as people age. This fact is most notable in the younger brackets, as those who are just starting out usually make their premiums much more affordable. For those who are about to complete or have reached their mid-twenties, you can find that the average price of life insurance increases significantly at this stage in life; however, it is likely that as you progress through the years just past both of these stages, your rate will go down. The older you get, the more expensive your rates become. Those who are looking for a lower-cost policy should try to find it for their age bracket and avoid getting hit with hidden charges or outrageous mandates.
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While these things may seem like small factors in the big picture, the extra costs from high-risk lifestyle choices can add up to quite a bit. Check out the following for more information.
For more information on smoking and life insurance: http://www.fool.com/investing/general/2012/02/life-insurance-smokers-and.aspx
For more information on obesity and life insurance: http://www.insure.com/articles/2012-02-obesity-life-insurance.html
For more information on age and life insurance: http://www.lifehappens.com/blog/life-insurance-rate-increases-with-age
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Conclusion:
There are many benefits to purchasing life insurance that should be taken into consideration by anyone who is looking into buying a policy. If you work for yourself or a small company, the concepts presented in this resource will help build the case for a more generous policy than you might be used to getting from an employer. With so much information available, it is not difficult to find affordable policies that can be tailored to your exact needs. This process of talking with an independent insurance agent will help ensure that you get the best deal possible on the kind of coverage that fits your budget and provides adequate protection for yourself and your family.