Having a secure life insurance policy in place is exceptionally important for you and your family’s futures. It assures that your loved ones’ needs are covered when you’re, to put it nicely, no longer in the picture. Furthermore, it does this without detracting too far from other, large life-saving goals such as college tuition or a retirement fund. As a first time buyer, it’s vital that you choose a policy that is ideal for your situation and the two main questions you should be considering are, “Is this policy of top-quality standard for my needs?” and, “Is this the cheapest I can get for maximum benefit?”. Some ways to go about this are to firstly, seek a term life insurance policy (this will stand for a chosen amount of years) and secondly, consult with several providers to receive different quotes. However, there are a few other factors that are entirely in your control that will help you keep those costs down. These are listed below.
Boot Tobacco Out The Door
Its no great mystery that smoking is a habit that is far from kind to both your health and your wallet. But what does this mean for your insurance policy? Well, unfortunately for all the smokers reading this, you have far more to gain if you’re a non-smoker. The costs of a policy for a smoker are about 5 times higher than that of a non-smoker and it can take up to 2 years of being completely tobacco-free to qualify for non-smoker insurance. So if you’re serious about choosing the cheapest policy possible, we suggest that you say “adios tobacco” pronto.
Have you been hoping to shed that extra few pounds for quite some time now? Well, this may be the ideal push that you’ve been waiting on so tentatively for. To qualify for the most affordable policy, you need to slot into the weight range that doesn’t plunge you into being classified as obese and thus, paying higher premiums then you’d like to.
Do you enjoy a good, old race when behind the wheel? Well, if you do, and if you’ve ever run into any kind of trouble because of it, then you’re unlikely to qualify for the policy you hoped for. Those with a history of car accidents and other reckless behaviour will inherently land up paying far higher premiums than those who chose to behave themselves.
Try Avoid Filing Bankruptcy
Unfortunately, filing for bankruptcy gives the impression of bad decision making which may heavily affect the chances of getting that good, cheap policy you were gunning for. If you can avoid this, you will save yourself much anguish down the line.
Your Hobbies Matter
In this instance, being an adrenaline junky has its downfalls. Hobbies such as skydiving, bungy jumping, rock climbing or any extreme sports for that matter call for a much higher premium so if you’re seeking to keep your life insurance costs at a comfortable low, then these may not be the best after-work activities for you.
Lying and cheating is always a big no but even more so when it comes to getting the policy you want. If by chance, you’re caught with a history of fraud or it comes to light that you’ve told a lie on your current health claim, it could mean that your beneficiaries won’t receive a cent of the payout they were depending on.
For your benefit when it comes to choosing great, best affordable life insurance, you must do your part in ensuring you’re leading a healthy life and making the most beneficial decisions for yourself. We want you to receive the best health insurance policy fit for you, so feel free to contact us for any further advice regarding your life insurance.