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Tuesday, January 6, 2009

Tips on Cheaper Life Insurance- The flow of our money

For most people, life insurance is there to lift a financial weight off your soldiers. It will pay out a fixed sum if you were to die, meaning your family wouldn't have to struggle when you pass away. This assurance comes at a cost, and many factors effect how much your policy is going to be, including your age, sex, weight and even your diet. To get a lower quote on your life insurance, follow these tips...

Don't be tempted to take out joint life insurance. A couple who take out a joint life insurance policy will expect the premium to be cheaper- because if they both die the claim would only pay out the same amount as a single premium. Also, the price of taking out two separate policies is only slightly more expensive, and if the worst happens and both of you die, you will get twice the money you would then if you had a joint policy.

Change your lifestyle. If you are a smoker, your insurance is likely to be significantly more expensive than a non-smoker, as you are more likely to develop diseases caused by smoking, for example, lung cancer. To save money on your life insurance the best thing for a smoker to do is to quit. For this to effect your premium you have to have quit smoking for over a year to prove that this lifestyle change is permanent.

The same goes if you are overweight. Insurers are more likely to charge higher premium rates to those who are obese, who again are more likely to develop related illnesses such as hear disease and cancer. By losing weight you are likely to cut your life insurance by a third. This change of lifestyle will not only benefit your wallet, but also your quality of life.

Change your diet. In the past year, insurance providers have started to charge vegetarians up to 6% less on their policy than those who eat meat. Even if you are of a healthy weight, eating too much red meat is related to strokes, and general meat-eating is related to becoming overweight or obese. Vegetarians are on average more slim than meat-eaters, and are far more likely to eat a variety of fruit and vegetables in their diet, therefore are less likely to become obese. This may seem like an extreme change of lifestyle, but could prove to reduce your life insurance policy and better your health.

Look at your career. Certain careers paths can seem more risky to providers, for example, jobs which create more stress are more likely to create a higher premiums. A change in career is certainly extreme just to lower a life insurance quote, but may be one of the factors which are causing your premium to be higher than the average.

When looking for a life insurance quote, be sure to read all of the small print- one policy could offer cover for a certain thing and another will not. Compare Life insurance online to see what offers there are in the market, this will higher your chances in getting a cheaper life insurance quote.

Article Source: EzineArticles

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