Whether you’re signing up for your first insurance policy in your 20s, converting from term to whole life insurance in your 60s, or falling somewhere in between, you want to keep your premiums as low as possible. Hopefully you’ve studied this topic and are familiar with what you can do to decrease your rates. Regardless of how healthy you are and what kind of lifestyle you lead, certain factors that affect your premiums are totally beyond your control.
One example is family health history. An insurance agent will check to see whether anyone in your family experienced conditions such as heart disease and high blood pressure before turning 60. Since family members share genes and often have the same lifestyle and/or environment, you may be at a higher risk for these conditions. Though you can’t keep insurers from charging more for your policy, you can take extra steps to lower your rates.
A family history of health problems is a red flag, so things like smoking and excessive drinking will add even more risk for an insurance company. Stop those habits, and consider joining a gym or finding a new activity, such as swimming, to decrease your premiums. You can also start following a diet specifically designed to lower your risk of experiencing diseases or conditions that have befallen family members. To learn more about this subject, take this Health IQ quiz about the effects of family health history on your premiums.
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