How Your Health Affects Your Life Insurance Premiums

Life insurance premiums are determined by a number of factors which insurance companies deem important. These factors include lifestyle, health, one’s job and sporting activities, to mention only a few. One’s health is one of the most determinant factors of one’s life insurance premiums.

Family medical history

When insurers look at one’s health as a determining factor for life insurance premiums, they also consider one’s family medical history. An example will be someone who comes from a family where family members (for example mother, father, sisters or brothers) have suffered from a serious medical condition. Such a person is often considered by insurance as someone who is at high risk of being victim to the same medical condition. What the insurers want to know specifically is whether you are at risk of inheriting some diseases that run in the bloodline like coronary heart disease, stroke, diabetes or cancer and one way of ascertaining this is through your family medical history. If one or more members of your family have been victim, the insurance underwriters tend to place you in the same health basket. This usually results in increased premiums for life insurance cover. The opposite is also true. Where one comes from a family where there is no history of serious medical condition, then life insurance premiums will be lower.

Being overweight

When one is overweight, the insurance companies tend to classify that person under a category of people with a lower life expectancy. One’s weight is therefore one of the most important factors that can either cause your life insurance premiums to be lower or higher. When one eats well, exercises often and is fit, the life insurance premiums will be lower. One way to ensure lower life insurance premiums is to lose weight, eat well and exercise to ensure body fitness.

Smoking

When one smokes incessantly like there is no tomorrow, they are most likely to incur higher life insurance premiums than people who do not smoke. With the damage to the lungs brought about smoking and the health complications associated with this habit, one’s life expectancy is reduced drastically, and insurance underwriters are aware of this and tend to consider it seriously. A smoker is most likely to die during the term of their life policy. To reduce one’s premiums, one can stop smoking as this will not only impact the life insurance premiums but one’s life expectancy as well.

Other threats to health

Anxiety and depression are some threats that affect one’s health that insurance underwriters take into consideration when determining one’s life insurance premiums. When one suffers from depression and anxiety or is on anti-depressants continuously, their life insurance premiums tend to sky rocket. The reason for this is the same that they are most likely to die during the term of their life cover. The opposite also stands true that someone who takes care of himself and is not suffering from depression or anxiety will pay lower life insurance premiums as they are expected to live longer and stand a chance to outlive the term of their insurance cover. When you take care of your health, you increase your life expectancy and reduce your life insurance premiums at the same time.