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Reduce Your Risk to Lower Your Policy Costs

Everybody wants to save money. When it comes to life insurance, there are often several ways to save money. One of the simplest ways to save money on coverage is to compare life insurance companies and shop around for quotes. However, when it comes to protecting your loved ones, the biggest savings can often come by making a few changes in your life and lowering your individual risk. While there are some things that you cannot change about your risk, like whether you were born with a genetic condition or have a parent that died of heart disease, there are things that many of us can control that will reduce our risk, and therefore lower your premiums.

Maintain a Healthy Weight

If you are overweight or obese, you will probably have to pay higher premiums. While losing weight is not easy, it can make a big difference in how you feel, as well as in the prices that you pay for coverage. The more extra weight that you are carrying, the higher the premium that you will have to pay. If you are over 50 pounds overweight, you might have to premiums that a healthy person will have to pay. You may find that a gym membership or other program to help you lose weight will pay off big dividends in savings over time.

Quit Smoking

If you are a smoker, your life insurance rates are not likely to be pretty. An otherwise healthy smoker can save more in premiums by quitting than an overweight non-smoker can when they lose 100 pounds! A study conducted by Consumer Reports in 2006 reported that a smoker who was otherwise healthy would pay more than four times the premium than someone who was in great shape. Giving up the nicotine habit is the best way to save money on your premiums.

Be a Safe Driver

If you drive drunk or recklessly, not only will your car insurance rates go up, but your health coverage will go up as well. Reckless drivers pay more than twice what a healthy and safe driver will end up paying. Be careful when you get behind the wheel if you want to save money.

Control Your Cholesterol and Blood Pressure

If you have high blood pressure or cholesterol, you will end up spending more money for your premiums. If your blood pressure is high or your cholesterol levels need to be cut by 30 or more points, you will find yourself spending at least twice the amount as a healthy person would. If your blood pressure is on the borderline of being high, that will show up on your statement as well. It doesn't matter whether you lower your cholesterol by losing weight, eating right, or taking medication, if you can get your cholesterol down to a manageable level, you will be able to get lower quotes.