Lifestyle can affect your health and life insurance policy

Why is having a healthy lifestyle important for you and your life insurance?

Your lifestyle choices can and will have an impact on how much you'll pay for life insurance. Keep reading to find out more about how you can reduce the amount of risk you pose to an insurer.

Lifestyle choices that can affect your health and life insurance rates

Some of the lifestyle choices that can have a significant impact by driving up the cost of your health and life insurance premiums include:

  • Your weight. If you're considered overweight or obese, you're at risk of a number of serious health issues that are related to weight such as heart attack and stroke. This means you become a greater risk to insurance firms.
  • Smoking. If you're smoker, you're at risk of a number of health related problems as well as being exposed to a possibility of premature death. This makes you a higher risk to insurance firms and as a result, you will be paying higher premiums for life insurance.
  • Heavy drinking. If you drink alcohol on a regular basis and easily exceed moderate levels, you put yourself at risk of alcohol related health issues, such as liver problems, which could result in life insurance providers to view you as high risk individual. Heavy drinking can therefore result in the cost of your life insurance premiums being higher.

Does smoking really affect your life insurance premiums that much?

*Please note that these are sample quotes taken as a guide. For a proper quote, speak to an experienced adviser.

Positive lifestyle changes you can make to bring down health and life insurance premiums

There are a number of lifestyle changes that you can make in order to try and improve your health as well as reduce the cost of getting life insurance cover. Making these changes can take time, particularly if you have fallen into bad habits with regards to your lifestyle. However, even making small changes over time can prove helpful to both your health and your pocket. Some of the changes that you can make include:

  • Improving your diet and exercise regime. Eating more healthily and making sure you do some regular exercise can help to boost your health and wellbeing while enabling you to lose weight or maintain a healthy weight. This in turn can help to reduce the cost of coverage of life insurance.
  • Quitting smoking. Quitting smoking is a very good start towards improving your health and finances. You will not only save on the cost of cigarettes but also on the cost of coverage such as life insurance, although you will generally have to have quit for a specified minimum period of time before the lower premiums kick in. However, the greatest reward from quitting is that you get to enjoy the health benefits of being a non-smoker.
  • Moderating drinking. While some may have a glass or two here and there, some may go much more than the acceptable limit and not realise that their alcohol units are adding up to quite a large number each week. Take time to assess your drinking habits and if necessary reduce them to a healthier level, as this can offer health benefits, help to reduce weight, and lower your premiums.

Changing your habits and lifestyle may not sound like something that is easy to do, but it can have many benefits to not only your wellbeing but it will also lower your life insurance premium rates. Remember that it is important to be honest about your smoking and/or drinking habits to your insurer when you apply for life cover, as non-disclosure will only lead to the claim being rejected.

Compare life insurance quotes from these direct brands

Name Product Maximum cover Maximum Entry Age Minimum Sum Insured Guaranteed Future Insurability Expiry Age Short Description
$1,000,000
64
$100,000
No
No expiry age as long as premiums are paid
Get a refund of 10% of the premiums you've paid (in the first 12 months) with The Real Reward™.
$1,500,000
65
$100,000
Yes
No expiry age as long as premiums are paid
Get life cover up to $1.5 million. Plus, ahm health members can save 10% off premiums.
$1,500,000
69
$50,000
Yes
99
Receive a 10% discount on the second person when two applications are submitted at the same time, and both policies are issued.
$1,500,000
65
$100,000
Yes
99
Tailored life insurance so you know what you're covered for upfront. Take out a policy and get a $100 bonus gift after holding cover for 2 months. T&Cs apply. Ends 30 June 2019.
$1,500,000
64
$100,000
No
No expiry age as long as premiums are paid
Cover up to $1.5 million with Guardian Life Insurance.
$2,000,000
59
$50,000
Yes
99
Get flexible life insurance up to the sum of $2,000,000.

Compare up to 4 providers

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