LIBERTY BLOG – December 2015 Recurring Order

Lower Your Life Insurance Premiums by Keeping Your New Year’s Resolutions

A New Year, a new you: one that’s healthier, happier and more active. For many of us, this involves a bunch of resolutions: eat better, exercise more, stress less. But did you know that by keeping these resolutions, you can also lower your life insurance?

That’s right: high cholesterol, heart problems, smoking, obesity, and cancer are just a few of the health problems that drive up the costs of your life insurance. But if your health has improved considerably since you purchased your policy—whether it’s due to lifestyle changes, medical treatment, or a combination of both—you have grounds to request a reevaluation of your policy. This involves a medical exam to determine exactly how much healthier you’ve become. If your insurer finds your health is significantly improved in a manner that positively impacts your life expectancy, it will lower your premiums.

Now isn’t that a great reason to make a bunch of New Year’s resolutions—and actually keep them?

What New Year’s Resolutions Should You Make?

The kind of resolutions you need to make will be directly related to your specific health issues.

There are conditions and habits you can completely turn around; for example, if you’ve overweight, you can learn how to eat healthily and make exercise a part of your daily routine so you lose weight. Likewise, you can stop smoking and/or drinking alcohol. (All of these changes can have a positive impact on your cholesterol levels and blood pressure, by the way.)

However, some conditions can’t be cured, for example heart problems, diabetes, and asthma. But you can learn to manage them better so your overall health improves significantly. Ask your doctor about treatments and lifestyle choices that can help.

How to Keep Your New Year’s Resolutions

This is, of course, the most difficult part of all… and the part where many people fail. However, you can greatly increase your chances of sticking with your resolutions if you’re first, truly motivated to change and second, properly prepared.

Motivation is the most important factor. Ask yourself why (in addition to saving money on your insurance premiums) you want to lose weight, stop smoking, get your asthma under control. Is it because you want more time with your loved ones? Because you’d like to be able to do more? Because you want to feel better about yourself? Whatever your reason is, write it down on a piece of paper and hang that piece of paper somewhere where you’ll see it every day.  

Preparation is almost as important. Most people need support to make changes. Find someone who’ll hold you accountable and encourage you to make the right choices; for example a weight loss buddy, a family member who’ll act as your health mentor, or an AA sponsor. Get the tools you need, whether that’s a gym membership, home exercise equipment, or nicotine patches. Finally, make room in your schedule to be healthy: block out times to exercise or meditate, prepare healthy meals, or go to support groups.

If you’d like to know more about having your life insurance policy reevaluated, talk to your agent. He or she will inform you of the conditions you need to meet in order to qualify for reevaluation, as well as give you an indication of what changes you need to make to successfully get your premiums reduced.