Five Habits That Will Raise Your Life Insurance Rates

Here’s the scenario: you’re about to apply for life insurance. You’re ready to fill out that form. You’re a bit nervous about what’s going to happen because you’re not sure how the life insurance provider will feel about your health habits.

This article is perfect for anyone looking to apply for life insurance in the near future. We want to help you find the best coverage for your situation. This is why it’s important to take an honest look at your habits to see where you stand and what can be improved on.

Here are five common habits that will raise your life insurance rates:

1. Smoking

According to Jeff Rose at Huffington Post:

“A smoker pays more in life insurance premiums because life insurance is all about risk assessment. If the company thinks you are going to die sooner rather than later, you are going to have a higher premium.”

You already know that smoking is bad for you. You get enough flack over it. I’m not here to judge you. This is a friendly reminder that now might be a decent time to try to kick that awful habit.

2. Drinking alcohol

The same logic that applies to smoking applies to drinking. The insurance company will be wary of insuring someone who drinks heavily. Drinking heavily leads to many issues (aside from embarrassment in social settings). You’re more prone to get injured or get yourself into trouble according to the company. This can mean higher life insurance rates.

3. Poor eating/weight issues

Your weight will be considered when you apply for life insurance. Poor eating habits will hurt your life insurance rates because you’re a higher risk to insure due to all of the health-related issues that come from being overweight and eating yourself into poor health.

4. Taking high risks

I know that it’s fun to go surfing or be a cage fighter (from what I’ve heard), but your life insurance company won’t be too excited about watching you in the cage. It’s fun to take risks when you’re young and I’m certainly not telling you to stop. I just want to warn you that the insurance company will ask you about your lifestyle and extracurricular activities.

5. Dangerous driving

The life insurance company won’t be impressed with your dangerous driving history. Hey, even those honest mistakes will hurt you. I once found myself with a no seat belt ticket because I started
driving as I put my belt on. Luckily that’s off my record now. The company will check your recent driving history to see what type of driver you are. They won’t be too keen to insure you if you have many driving violations on your record. It might be time to slow down.

You’re responsible for your health. These five habits may seem innocent at first, but they’re certainly going to impact how much you’re paying for life insurance. You don’t have to panic if you’re guilty of any of these. You can slowly make lifestyle changes that will help you live longer – and get you lower life insurance premiums.

Image Courtesy of Twenty20