Paying regularly for anything is tough, and paying regularly for something which seems as untouchable as life insurance can be particularly hard. Before taking out your life insurance policy, it is best to do as much as you can to make the regular monthly premium payments as low as possible.
Things you must know-How to minimise your premiums!
Here are six pieces of advice to help you get those direct debits down.
Stop smoking: By far the biggest culprit for high life insurance premiums, smoking is the true enemy of low-cost life insurance! On average, a smoker pays as much as 100% more for their life insurance policy than an equivalent non-smoker. Whether smoking or vaping, you are doubling your premiums!
Don’t do drugs: If smoking is the biggest problem, other less-legal recreational drugs are no better. Insurance companies want to see a healthy and clean lifestyle. Regardless of your lifestyle, always be honest about any habits – that way, you can rest assured that your loved ones will receive a lump sum should anything happen to you.
Opt for a health-tracking policy: Ask your advisor about the range of health tracking life insurance policies out there. With an online portal to help track your health, you can prove to your insurers just how much you care for your health and fitness and they’ll reward you with lower premiums.
Reassess your insurance needs: Making sure your life insurance policy reflects your current situation, your actual needs and it is not a pale reflection on life as it was a decade or two ago is important!
Take a good look at your insurance needs and see if you (or we) can come up with a better fit.
Whether you are yet to start a life insurance policy or have had one for decades, there’s every chance we can find something that brings your premiums down.
We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00