When providing life insurance, the insurer emphasizes the applicant's life expectancy. The insurance company looks at things like your age and health status to calculate your expected life expectancy. However, in addition to these two things, your lifestyle also plays an important role in this process.
There are many lifestyle habits or choices that can negatively affect your life. To put it bluntly shortens your life span, raises your insurance premium.
Here are five lifestyle practices that affect
life insurance premiums:
1. Smoking Habit:
Smoking is bad for not only your health but
also your life insurance policy. Because smoking can lead to many serious
medical problems, insurers consider those who have applied to be more at risk
than non-smokers. If you smoke regularly, the insurance premium
maybe higher.
2. Drinking wine or Alcohol:
Even if you regularly drink alcohol, life
insurance l. Be prepared to get the most out of it. Like alcohol, the overuse
of alcohol puts your health at risk. Insurance providers have eliminated this
high level of risk by charging high premiums.
3. Review your Driving history:
Many insurance providers also review your
driving history. Since road accidents are the most common cause of death in the world, the insurer selects sick people with a good driving history. If you have
been involved in road accidents or traffic violations in the past, you will
have to pay a higher price.
4. Lazy lifestyle/obesity:
Sitting down or being overweight can also
lead to a variety of medical problems. If your abusive lifestyle has made you
overweight, you may have serious health problems in the future. This will also
affect your insurance.
5. Work / Recreation:
There are many jobs such as a fire
extinguisher, a water heater, a miner, etc. If you get involved in this
activity, the insurance company will put you in their most dangerous bucket. Even
if your job is safe, you are still involved in dangerous activities such as
skating, scuba diving, etc.
Never hide
anything from your insurer:
If you smoke but deliberately hide it from
your insurance company in insurance. It can hurt you a lot. It may even save
some money for your family but you will have to make up for the mistake
effectively and efficiently. So don't think about doing that. Always remember
that the insurance company takes care of your health.
Disclaimer:
The information contained herein is generally
natural and is intended for educational purposes only. Nothing in it can be
considered as an investment or financial advice or tax and it can be considered
as an invitation or request or reinforcement of any financial product. Students
are advised to use common sense and seek independent advice before deciding to
invest in any financial product.
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