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Life insurance is essential, but when you compare and purchase an insurance plan the first thing you need to look for is how much money you are investing on your premium. As there are hordes of insurance plans, some offering premiums up to two to three times more than the other, you should know the right way to distinguish between the most expensive and affordable ones. Given below are a few tips you should keep in mind while choosing an insurance plan.
Though your age and family’s medical history are not under your control, your lifestyle and personal habits invariably rest in your hands. Let’s take a sneak peak at the various lifestyle changes you could adopt to lower your life insurance premium:
Non-smokers have a longer life than tobacco users. So, if you are a non-smoker then you have a few more years to settle the premium installments before coughing up the Beneficiary of your insurance cover.
By exercising regularly, you can maintain a slimmer body and good fitness levels. This means you keep away from various fat-accompanying problems like cholesterol, blood pressure, and heart diseases by exercising regularly. By being a person who is in good health rather than being one who is prone to common health problems, you can opt for cheaper insurance plans. Ultimately, it diverts you to lower insurance premiums.
Insurance companies charge heavily when you have got more tickets for violating the traffic rules. At times, those premiums could cost you more than your car insurance premiums. So, drive slowly and safely.
Insurance companies charge hefty premiums when you don’t have a good medical history.
A word of advice is, first make sure that you are completely aware of the insurance policy’s fine prints. Look for hidden charges and clear all your doubts with your Insurance Broker before signing up.