There are many elements that can affect your life insurance premiums, of which some you may be aware and others you may have no clue. So in today’s blog, The Cheapest Life Insurance takes a look at some of the things that could affect how much you end up paying each month…
Weight – is probably one of the major factors in determining your life insurance premiums and most if not all insurers will want to get an idea of this before preparing a quotation. The bottom line is that if you are overweight you could end up shortening your life span. Height, weight and your body mass index are usually used to calculate rates because of potential health issues for people who are overweight. So, in short – if you want lower premiums get healthy and lose those extra pounds!
Family Health – This is something insurers will ask about to determine whether you are genetically susceptible to certain diseases. Usually you will be asked if a close family member has died from cancer or a hereditary disease before the age of sixty. Your family history shows the insurer what diseases run through your family and therefore those that could pose an issue for you living longer.
Hobbies – Again this may seem a bit of a surprise but when it comes to life insurance there are difficulties when it comes to the hobbies you enjoy. Skydiving, hang gliding, racing cars, scuba diving and even climbing can be construed as being higher risk. Therefore, if you do partake in any of these kinds of activities you will potentially be in a higher risk group.
While taking all of this into account it’s vital to remember that being honest on your application is really important when it comes to applying for life insurance. Lying will do you no favours whatsoever, so if you are overweight, or you have an illness in your family or you go skydiving every month, you must tell your insurer to make sure you not only pay the right premium but that you are fully insured for your life.
The Cheapest Life Insurance can assist you if you are looking for competitive life insurance quotes and perhaps are worried about your medical history or take part in high-risk activities.
Why not contact us today for a quote?