If you have a large family with numerous dependents, or if your spouse counts on your income to live, then it may be in your best interest to invest in a life insurance policy. Life insurance protects your family from financial difficulties in the event that you pass away suddenly or after an illness. If you think that you need a substantial policy, then you will likely be asked to undergo an extensive medical examination. The examination will determine the risk associated with offering you life insurance. If you want the best insurance rates, then the medical examination needs to indicate that you are relatively healthy. If you are not in good health, then follow the tips below before you contact an insurance company.
Smoking can cause a variety of cancers that include lung, nose, stomach, kidney, bladder, and ovarian cancer. The habit can cause heart disease or poor circulation, and it can contribute to heart attacks. Smoking can also lead to pneumonia, cataracts, gum disease, and bone loss. You also will most likely die 13 or 14 years sooner than an individual who does not smoke. Insurance companies know these facts, and they may need to pay out insurance money sooner if they insure a smoker. Insurance premiums are then increased substantially to reduce the overall costs.
One of the best and easiest ways to reduce your life insurance premiums is to quit smoking. It is wise to quit 6 to 12 months before your medical examination, because statistical data indicates that only about 1 in 20 people will be able to quit for a year or longer. Once you hit the one year mark, you are much more likely to remain abstinent from cigarettes. The life insurance company will also see you as an ex-smoker at this point.
Avoid Nicotine Products
If you do decide to quit smoking, then you should try to quit cold turkey. Some insurance companies see you as a risk if you use nicotine gum, patches, or electronic cigarettes. This may indicate to the business that you are still addicted to nicotine and you may turn to cigarettes again. Also, some medical examinations include a nicotine test to determine whether or not you are a smoker. You then may be placed in the smoking risk group whether you smoke or not.
Speak with your physician about pharmaceutical medications that can reduce your urge to smoke. You can also try hypnosis or you can drink water to try to flush the nicotine out of your system.
If you are considered obese or overweight, then your life insurance medical examination will reflect this. In most cases, your weight and height will be used to calculate your body mass index (BMI). The calculation will indicate if you are overweight or obese and your premium rates may go up. Consider your BMI before your medical examination by using an online calculator.
Try exercising if you want to lose weight. A gym membership and a good exercise regimen will reduce your weight and also show that you are actively trying to retain your health. This can lower life insurance premiums even further. Think about starting a journal that describes the types of activities you partake in during the week. Supply the journal to the physician who completes your exam.
Change Your Diet
Try to follow a good diet plan as well when you start exercising. A poor diet can increase weight and it can also cause health complications in the future, even if you manage to lose weight. Avoid foods that are high in saturated and trans fats. Fried foods, red meats, processed items, butter, and some dairy products contain bad fats. Also, be aware of sodium intake to retain your cardiovascular health. Foods that contain a good deal of salt include cured meats, dressings, cheese, condensed soups, chips, and canned vegetables.
If you are considering buying a large life insurance policy, then you need to make sure that the premiums are manageable. You can reduce costs by portraying a healthy image of yourself. Quitting smoking and losing weight can help to do this.
When you start thinking about getting insurance, it can be overwhelming to hear the advice from family and friends. While some people might encourage you to stockpile money and insure yourself, others might warn about the expense of paying for car repairs or a stay in the hospital. However, even the most conservative financial experts talk about the importance of having sound insurance. Because it can be difficult to find the right policies, I decided to create a website completely dedicated to providing free information about insurance. Every situation is different, but if you are like most people, you will need a decent homeowners, medical, auto, and life insurance policy to protect you from unforeseen circumstances.