Ways to Reduce Your Life Insurance Premium

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Life Insurance Premium
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Ways to Reduce Your Life Insurance Premium
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Introduction
You want life insurance to allow your family to
continue their quality of life after you're gone.
You also want to be able to provide them with a
way to take care of your funeral costs, as well
as pay off any medical bills or other expenses
you may incur before you leave this
life. However, you also don't want your life
insurance to break you before you actually pass
on. Therefore, you'll be looking for any ways to
decrease your life insurance premium so that you
can actually live while you're still here. Nobody
likes to think about death, or how they'll die,
but insurance is important just as having a low
life insurance premium is important. The
following are a few ways to reduce your premium
so that you can maintain your insurance easily
and without stress.
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Premium Amounts
Life insurance companies determine your life
insurance premium in a variety of ways. They
consider your health, how old you are, the
lifestyle you live as well as how much money you
decide you'd like to leave your family after
you're gone. All of the above go into an equation
and that determines how much you have to pay each
month to keep your life insurance active. To
lower your premium, you have to change any of the
above that are within your control. Your age
isn't within your control that much is certain.
And for many, their health isn't within their
control either. Your immune system and the
lifestyle you've chosen thus far typically
determine how healthy you are. On the other hand,
your lifestyle and the amount you wish to leave
your beneficiaries are well within your control.
So start working on those things and you'll see
your premium fall to more manageable levels.
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Your Lifestyle
You can change your lifestyle right now and that
will often reduce your life insurance premium. If
you're a smoker, work on quitting right now. Gum,
patches, and medications are all good ways to
quit but the best is just quitting cold turkey.
Quitting isn't easy but you should strive to quit
if you'd like to reduce your premium. Note that
it takes at least six months for all traces of
nicotine to leave your system. If you don't work
out, join a gym or start walking after dinner
five to six nights per week. Get others to join
you to increase your motivation. These two things
will drastically improve your health. You'll
probably also lose weight, which will look very
good to an insurance company. That company will
then reduce your premium because you'll be a
lower risk than someone who smokes, or someone
who's overweight and not very healthy.
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The Amount
Shop around before you decide on the right
insurance policy. Find the company that offers
the lowest life insurance premium for the amount
you'd like to leave. If you already have life
insurance, there's nothing wrong with switching
companies. You owe it to yourself and to your
family to find the company that offers the most
for the lowest premium possible.
Sourcehttp//bit.ly/2bJOMK9
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