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Category:  Health
Related Links | Healthy Living | Stress | Emotional Well-being | Cutting Medical Costs |

Ways Of Decreasing Your Personal Insurance Premiums

By Peter Kenny 

Health and medical insurance are two of the most popular types of personal insurance for which consumers look for so that they can have the coverage they need when they become ill or are injured in an accident of some kind. There are also other forms of personal insurance available to meet various needs, such as travel insurance, life insurance, vehicle insurance and critical illness insurance, to name just a few. Whatever type of personal insurance you choose, it does give you peace of mind that you and your family are protected if something happens that will affect your income and your savings. If you have health of medical insurance, you know that if you need treatment, the insurance will pay for the bulk of the costs involved. With life insurance, there is no payout until after you die, but you do know that your family is well protected after you are no longer there to provide the monthly income.

There are many different factors that determine how much your premium costs will be for any one insurance policy. Each policy has its own requirements and you can choose a level of coverage to meet your needs. Your individual lifestyle and your occupation are just two of the factors that help determine how much a personal insurance policy will cost you. Other factors include your age, your health and your gender. The younger you are when you take out one of these insurance policies, the cheaper it is likely to be because the likelihood of you falling ill or dying at an early age is much less than if you are older.

One of the first questions you have to answer when you apply for a health or life insurance policy is whether or not you smoke. If you answer 'yes' to this question, then you are automatically in the higher category of risk and will therefore pay a higher cost for the insurance over a non-smoker. Smoking has been proven to cause a variety of health problems and there is an increased chance that you will develop lung cancer or heart disease if smoking is part of your lifestyle. This means that you are an increased risk to insurance companies because it is highly probable they will have to pay out the cover on your insurance.

Your weight is another factor that affects the costs of insurance cover premiums. Thos who are overweight are more likely to have health problems related to their weight than those who are just the right weight for their height. Weight factors into the calculation of insurance premiums because of the higher risk that insurance companies are taking by approving the policies.

You can drastically reduce the costs of your insurance if you take steps to make changes in your lifestyle. This includes such things as quitting smoking, losing weight and leading an active lifestyle. Taking walks each day or joining a gym or health club can go a long way in helping your reach your goals of becoming healthier and at the same time lower your insurance premiums. If you do make a change in your lifestyle after you have taken out a policy, make sure you inform your insurance provider so that adjustments can be made in the price of your policy.

Peter Kenny is a writer for The Thrifty Scot, please visit us at http://www.thriftyscot.co.uk/Loans/Personal_Loans.html and http://www.thriftyscot.co.uk/Loans/Secured_Loans.html
http://www.thriftyscot.co.uk/012009/dont-get-trapped-by-debt.html


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