international student life

international student

How to reduce your life insurance costs and premiums.

Maintaining good health, Safe lifestyle, Good Credit, Lower weight and safe driving

For people who have children and other dependents who rely on them, it is vital to have life insurance so that in the rare case that you die prematurely, your dependents can be taken care of. It can be a very serious matter for dependents if the main breadwinner passes away and there is no one around to take care of them.

There are many factor that determine the premiums you pay for life insurance. Some are beyond your control, like your Age and Gender. Younger people pay less than older people. Women pay less than men because women have higher life expectancy.

There are however some things that you can control and that can help you get lower life insurance premiums. These include:

Maintain your health.

People with chronic diseases that make them have higher chance to die will get higher premiums. However if these diseases are put under good management, the insurance companies will lower your premium. For example, if you have diabetes but you manage it well by taking your insulin and other medication, you will not have your insurance premiums increased.

Safe lifestyle.

People who engage in risky behavior like flying sports and other risky sports will have higher life insurance premiums. Same as for people working in high risk occupations like in oil rigs or fire fighters.

So, unless your profession is high risk and you cannot change it, it's better to have a safe lifestyle and avoid risky sports and other situations that may end up increasing your life insurance premiums.

Good Credit history.

Life Insurance underwriters also check your credit history. It is known that people with good credit scores in general lead a safer lifestyle and hence if you have a good credit score, you will have less chances of dying and hence your life insurance premiums will be lower.

Lower your weight.

A persons weight has a direct relationship to their health status. If your weight is high for your height, you are likely to have more health issues. Insurance companies factor this when determining premiums and overweight people will be asked to pay more for life insurance.

So keep your weight to a healthy level to get lower premiums for your health insurance.

Safe Driving.

If you are a bad driver, like driving while drunk and getting into many accidents, you have a higher risk of dying from a traffic accident. Insurance companies will check your driving record and if you have many driving violations, you will see your premiums go up.

So having a good driving record will help reduce your life insurance premiums.