Wellness Programs Can Help Equate to Lower Life Insurance Premiums
Better health is one way to keep the cost of your life insurance lower. Does your employer or health care provider offer wellness programs? Many employers and health care providers are promoting wellness and offer incentives to their employees and customers. My health care provider offers $400 to a family, annually, to cover the cost of weight loss programs, fitness center memberships, fitness equipment purchased for your home, sports fees, etc.They also offer a web-based program with tools to help meet health and wellness goals that includes a health assessment, wellness workshops, health coaching and member forums. These incentives are great motivation to keep me on track with my fitness goals.
When you apply for life insurance you will be asked to answer a number of questions regarding your personal health history. You will also take an insurance medical exam that includes blood and urine samples, in addition to being weighed and measured. If the combination of the answers to the health history questions and the results of your lab tests, height and weight are favorable, that should help keep the cost of your life insurance premium lower. On the other hand, should you have significant medical history, are overweight and/or your lab results come back elevated or abnormal, that could cause your premiums to be higher.
As you can see there is a direct correlation between good health and lower premiums on your life insurance policy. The reason for this is premiums are based on the risk that you will die before the policy term ends. In general, the greater the risk, the higher the premium but the lower the risk, the lower the premium.
About the author: Lauri Pella has been in the life insurance business for over 29 years. She is a fitness enthusiast who actively supports foundations like the American Cancer Society, and the March of Dimes. Lauri would love the opportunity to help your family have a peace of mind, knowing they have the right life insurance coverage. You can contact Lauri at 1-800-651-1953 or LPella@Pivot.com.