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You May Get Lower Life Insurance Premiums if You Get Healthy

Think of the benefits of owning life insurance.

By Byron Udell | March 12, 2014

You might be able to lower your life insurance premiums with just a few lifestyle changes. To learn more, read on.

Your health is directly linked to the life insurance premiums you’ll pay.  What most people don’t know, however, is that if you decide to make certain lifestyle changes and it results in a lower body mass index (BMI), which in turn improves your health status, you could be entitled to lower premiums.  All you have to do is ask. 

Lifestyle changes that can reduce life insurance premiums

  • Regular exercise (weight loss).  If you start exercising regularly, or even monitor your calories (that results in weight loss), insurance firms will adjust your premium rates to reflect this.  However, make sure you have all your fitness records.  Get a medical certificate from your doctor (if possible).  An article in the Chicago Tribune, Orlando Sentinel, Kiplinger’s and other publications mentioning AccuQuote and citing me says life insurance firms won’t just take your word for it; they’ll want proof of a sustained change before they make the necessary alterations to your insurance rates.
  • Smoking, Drinking and substance abuse.  If you have a history of heavy drinking, smoking or substance abuse, it will result in a higher premium.  Cut down on these three over a period of 1-3 years and your insurance rates could drop massively.
  • Risk-free work environment.  If you have a hazardous job, this will factor into your rates.  Examples include ship-breaking, firefighting, construction work, police work, even scuba diving.  If, however, you switch to a desk or office job, you can ask for a reduction.
  • Health improvements.  If you have a pre-existing medical condition like cholesterol or blood-pressure, or you’re recovering from (or have recently recovered from) cancer, your insurance rates will be higher.  If you control your blood-pressure and cholesterol levels over a period of time, or your cancer remains in remission for a few years, you are eligible for cheaper rates.
  • Recreational activities.  Do you indulge in track racing, sky diving, bungee jumping or anything similar?  If yes, your insurance premium is likely to be on the higher side.  If you stay off these activities for a long period of time (and can prove it to insurance firms), there is a chance your premium will drop

Remember, though, that this is not a quick-fix deal.  YOU have to make permanent lifestyle changes and prove it, too.  Life insurance companies don’t monitor your life; the initiative to lower your rates has to come from YOU.

We only work with highly rated insurance companies – brand names you trust. You may be able to save money without sacrificing quality and strength.