Fruit and veg the Key to Reducing Life Insurance Payments
By Elfy Anders

Taking out a Life Insurance Policy to protect one's family is important, it gives the peace of mind of knowing that your loved ones will be taken care of in the event of death.

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Choosing the right policy is essential, this has become easier over the years thanks to the numerous search engines available on the internet. Everyone uses different criteria when searching for the right policy but majority of customers are known to do this based on the price and how much they can save on a policy.

The recent credit crunch has affected lots of things including Life Insurance payments, many people have been looking for ways to reduce their premiums.

If you are one of the many Life Insurance policy holders looking to reduce payments then you are in luck because your lifestyle or slight changes to your lifestyle has the potential to save you money.

Some companies cut premiums for policy holders who buy fruits and vegetables in their supermarket whilst others offer lower premiums to customers who can prove they are healthy through gym memberships and the purchase of specific sports equipment.

Another incentive for lower premiums on offer for Life Insurance Policy holders is giving up smoking; not only do you benefit health wise, but you also save money. According to North Devon NHS, smokers spend an extra £676 per year on related expenses on top the actual cost of cigarettes. Smoking also causes diseases such as lung cancer, ulcers, heart attacks to name a few so premiums for smokers tend to be higher because statistics show they die younger.

For one to be considered as a non-smoker and take advantage of this offer you must have stopped smoking for a minimum of 12 months, this results in your premiums being lowered by over 50 per cent.

These cost cutting measures seems to have struck a cord with most customers, according to Life Insurance specialist Lifesearch, 14% of smokers (1.6million) have given up smoking since the introduction of the smoking ban in July 2007 and it is likely that majority of these people will be able to save on their Life Insurance premiums.

Another factor on the cost of life insurance premiums is alcohol, heavy drinking affects one's life span so insurers want to know the alcohol intake of their customers; they ask about their customers' alcohol intake on policy application forms and are particularly interested in the results of liver function tests. The test known as GGT measures the 'irritation' level of the liver, an elevated liver equals heavy drinker hence premiums are higher than that of a moderate drinker or the application gets declined. Things like DUI's, alcoholism and drug abuse also makes sure your premiums are higher or makes you all together 'uninsurable'. Up to two years after a DUI, customers can expect the highest of premiums, from two to three years customers can expect standard rates and only after five years can customers expect 'preferred rates' assuming they are in good health.

So if you want lower premiums now or in the future it might be worth making changes to your lifestyle, not only do you save money but it also ensures a healthier and longer life.

Elfy is an author of several articles pertaining to Life Insurance She is known for her expertise on the subject and on other Business and Finance related articles.

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