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How to minimize your life insurance premium payments

Life insurance is a big deal for you and your family. It is a big necessity if you wanna make sure your family is financially secure and cared in case you pass on earlier than expected. Life insurance premiums can take a big chunk out of your budget.Lowering your life insurance premiums gives you an opportunity to reduce your monthly expenses without changing the way you live. There are many different ways to keep your life insurance premium cost down.

Determine exactly how much life insurance you need

The key is to get the life insurance you need, but no more.You should only get the life insurance that you need.
If you buy too much life insurance, that can increase your premium costs.The higher the payout, the higher the premium. Also, you should always reexamine your policy whenever you have a major life change. For example, if you have a new baby, you have to recalculate education needs and care costs. If you own a home, a mortgage is likely your biggest financial focus. Because your mortgage balance decreases with each payment, it's important to include those revised figures in your calculations.

Apply for an insurance policy while you are young.

Insurance companies in Vancouver Bc mostly give lower insurance rates and term insurance quotes to younger applicants since they do not qualify as high-risks. Canadians usually apply for term life insurance in their early-to-mid thirties when they are getting engaged or married, or begin having children. Appling for the policy earlier will often get you better rates in return. If you apply for a life insurance policy in an earlier stage of your life , you will get better life insurance quotes and rates in return.

Take care of your health if you would like to lower your insurance rate in Vancouver Bc Canada

Many people pay almost 25% or more for the Life Insurance Policy because they are overweight. You pay higher premiums if you are overweight .Insurance companies give up to 25% discount to the people who is in shape and maintain a healthy life style. You might have chance to get a better insurance quote if you lost weight since you have bought your life insurance plan.

Quit smoking 1 year before applying for a life insurance policy

You should either stay away from smoking or totally stop smoking prior to life insurance application. If you have stopped smoking for at least one year prior to your application, standart premiums will be granted to you. But, if the insurer finds out that the you are a habitual smoker or have smoking addiction, the standard premium will most likely be doubled.

Try to Keep your blood pressure and cholosterol low

High cholesterol and high blood pressure led to heart disease and other serious ailments, so the better these readings, the better your rates.

Stop drinking or reduce your alcohol intake , Life insurance agents in Vancouver Bc check your medical records...

Drinking less alcohol or stopping it entirely – lowers the risk for the company and you’ll most likely be rewarded with a lower premium. Life insurance agents in Vancouver Bc usually check your medical records to have an idea about your alcohol consumption.
Drinking five to seven alcoholic beverages a day, would be a cause for concern and your premium cost could go up to three times than normal. If you are an ex-alcoholic who has been away from alcohol for at least 2 years , you would qualify for life insurance.

Maintain a clean driving record in Vancouver Bc, Be rewarded by your life insurance provider

You should drive like an adult not a teenager.. If you yu maintain a clean driving record you will also be rewarded by your life insurance provider as well as your auto insurer. A poor driving record can lead to an extra 25 to 50% of additional insurance cost . Life insurance brokers in Bc may even decline your application if you were involved in multiple at-fault accidents in the past.

Have a good credit history

Insurers regulary check your credit history to make sure that your are paying your bills on time. This will assure the company that your premiums will be paid on time and in full.