A list of life insurance requirements may seem intimidating if you don’t understand why they are there. However, if you understand these requirements and make healthy choices, you can lower your premium and feel better, too.
What Criteria Do Life Insurers Use When Evaluating Clients?
Insurers base their premiums on a variety of risk factors to new customers, which may include:
- Your age
- Your salary, employer, and investments
- Your health history
- Your medical subscriptions
- Your use of alcohol and drugs
- Your high-risk recreational activities
- Your family health history
- Your weight and height
Fortunately, there are life strategies you can use to lower your premium and ensure peace of mind for you and your family.
How Do Insurance Companies Determine Your Score?
When applying for life insurance, you may be required to undergo a medical examination. The doctor will most likely do bloodwork, take your pulse, and screen you for obesity, cholesterol, and heart disease complications. Your age and activity level will also be a factor. These examinations are likely to affect your premium and determine what kind of policy you can obtain.
How Can You Improve Your Score?
Fortunately, you can make many positive life changes to improve your rates:
- Lose some weight.
- Get exercise.
- Stop smoking.
- Stop drinking.
- Drive carefully.
Very few people are in perfect health, but good lifestyle habits can make all the difference. If you take action to improve your health, life insurance requirements should not seem like an insurmountable obstacle to financial security for you and your family.