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Life Insurance

Healthy Life Choices That Can Lower Life Insurance Costs

10 May 2022

Life Insurance by Life Stage

The choices you make today can impact your long-term health, wealth and happiness. Understand the important role Life Insurance can play in key life events.

The state of your health impacts on life insurance premiums. Find out how you could influence Life Insurance costs by living healthy.

Life Insurance premiums can seem too expensive for many people, and those that choose not to get Life Insurance often make that decision based on the premium.

However, there are two mistakes people tend to make when thinking about this subject.

First, a higher premium may make people believe the insurance isn’t worth the cost, but that’s likely not true. Life Insurance can help cover pressing expenses that tend to fall upon the closest relatives following the death of the life insured. The family might lack the funds to maintain the same lifestyle and debts can pile on. The right life insurance cover can help address these issues.

More importantly, many people aren’t aware that their health can directly influence their premiums. This means that the cost could be significantly lower for those in good health. Luckily, there’s something you can do about this subject.

A healthy lifestyle is desirable whether you’re considering Life Insurance or not. But when it comes to taking out a policy, it’s helpful to know how your health can influence the rates.

In this article, you’ll find out what lifestyle choices can create a better chance at being offered a more affordable Life Insurance premium when you apply for cover.

What Lifestyle Choices Might Lower Life Insurance Costs?

In essence, everything that gets you in the best health possible can work towards lower insurance costs. This includes avoiding harmful habits and adopting healthy ones.

Not Smoking and Drinking

Smoking and excessive alcohol consumption are among the bigger risk factors for health. Both habits also play a significant role in how high your Life Insurance premiums might be.

It’s a fact that smoking has a detrimental effect on various organs and tissues, especially on your heart and lungs. Besides that, smoking can increase your risk for a heart attack and promote bad cholesterol. This, in turn, jeopardises the whole cardiovascular system.

Many Life Insurance policies have differing premium rates for smokers and non-smokers as a result. The rates for non-smokers are naturally lower.

Your weekly alcohol consumption can be another key factor. While it might not be clear exactly what amount of alcohol falls under moderate consumption, excessive use is recognisable in most cases.

Regularly drinking too much alcohol can lead to a number of health issues. There’s a potential danger to the heart, kidneys, and other organs. In addition, the calories contained in alcohol can impact body weight, presenting further risks.

Moderate or no alcohol consumption can influence Life Insurance premium rates in a good way. Excessive drinking, on the other hand, is more likely to result in higher premiums.

Exercising Regularly

There aren’t many lifestyle choices as beneficial as regular exercise. Its positive effects are well-known and documented. That’s why insurers often take this factor into consideration when someone takes out insurance cover.

To start with, exercise can help you maintain a healthy weight and reduce the risk of diabetes. It also helps prevent cardiovascular problems.

Most people can maintain some form of regular exercise even if they have a physical impairment. You can find a workout routine to fit your abilities and limitations. There are high and low-impact exercises for strength, cardio, and flexibility to get you in the best shape possible.

Everyone can find a balance between their ability and their desire for physical activity. It’s always best to start small, with a low-intensity workout that doesn’t take much longer than 30 minutes. Your fitness level can improve in time, and then you could progress to a more demanding exercise.

Regular exercise improves your health, which also benefits you when it comes to insurance rates.

Paying Attention to Your Diet

Your diet is also a large factor in how healthy you are, which, in turn, affects insurance premiums. However, with various advice and trends that change from time to time, it could be difficult to find the best diet. Some choices are likely universally beneficial, though.

For example, you most likely won’t go wrong with cutting out excess sugar, salt, and fat. Processed foods and a high content of saturated fats are also commonly recommended to avoid.

When it comes to beneficial foods, there are some favourites among those as well. Fresh fruit and vegetables are the first on the list. Lean meat, fish, and vegetable oils are most likely very beneficial for your health. Finally, whole grains can contribute to a well-balanced diet.

Taking these generally accepted ingredients as a basis, you’ll probably manage to build a healthy diet. You can add items you like to the list and find your favourites among the most recommended foods.

Being well hydrated is an overlooked aspect of a healthy diet. You should aim to drink about six glasses of water daily. This can help your metabolism function optimally and contribute to your overall health.

Following these diet recommendations can do wonders not just for your health but also in turn for the insurance premiums you might be offered.

Working on Pre-Existing Health Conditions

You can influence a range of health conditions with lifestyle choices like a healthy diet and regular exercise. For instance, you could help bring bad cholesterol down by taking good care of what you eat. Working out and not smoking will be beneficial as well.

Blood pressure issues are also subject to change through healthy habits. While your lifestyle might not remove the issues completely, it could help regulate them. Once again, eating habits, exercise, and avoiding alcohol and cigarettes can contribute positively to your overall health.

How you handle pre-existing health conditions can reflect on your Life Insurance rates. You’ll have an improved chance of being offered a more affordable premium if you take some key steps to this end:

  • Get diagnosed early
  • Get medical treatment for medical conditions as soon as possible
  • Take other steps to improve your condition. This usually refers to adopting an overall healthier lifestyle
  • Find out if you have other medical conditions and address those accordingly
  • Refrain from risky behaviour or habits, such as smoking and alcohol abuse

Moreover, Life Insurance premiums shouldn’t be the only reason to keep your health conditions in check. Addressing and preventing them will of course be beneficial to you as a whole.

Not Engaging in Hazardous Hobbies

Your insurance premium will likely be higher if you enjoy hobbies, sports or pastimes that carry a higher degree of risk. If you regularly engage in activities that bear a risk of injury or death, you’ll hardly be offered a more attractive premium.

Bungee jumping, rock climbing, skydiving, and similar activities are often regarded as dangerous. Other such activities are motorsports, horseback riding, and skiing.

If you indulge in such activities and don’t want to give up on them, bear in mind that these could influence your premium. The history and frequency of your participation might play a role, as well as if you’re certified or even a professional in the activity. Finally, other specifics can also be a deciding factor, like the kind of equipment used for the activity.

Of course, you’ll have the best chances at being offered a lower insurance premium if you abstain from hazardous activities. Not taking risks can be a predictor of longer life and better personal well-being. And the bottom point is, that’s what matters most when it comes to assessing your Life Insurance premiums.

Benefit from Staying Healthy

Keeping yourself in the best shape possible is high on the list of life priorities. As a valuable addition, you could get some financial benefits from it in terms of being offered a more attractive premium when you apply for life insurance. However, always make sure that when apply for insurance, you answer the insurer’s questions fully and honestly.

With better health, you could enjoy both a longer life and lower insurance costs.

Taking out life insurance may be one of the most important financial decisions you can make. To find out more or get a quote, call a NobleOak Life Australian-based insurance specialist on 1300 014 494 or go online for a no-obligation quote.

This is general information only and does not take into consideration your individual circumstances, objectives, financial situation, or needs.





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