Depending on your lifestyle, your life insurance premium can vary greatly. If you are a heavy smoker with a dangerous job and have a family history of serious illness, to an insurer this means that you have a lower life expectancy and so they will likely have to payout sooner than normal. This results in a higher premium for you. While things like your family’s medical history are unavoidable, there are a few lifestyle tweaks that could cut the cost of your life insurance premium.

Cut back on the cigarettes

Picture by 'Locator'(Flickr)

I know, easier said than done, right? It sounds like an obvious one but it often goes unheeded. The damage that cigarette smoke does is well covered, so I’m not going to preach. From the viewpoint of your insurer, however, being a smoker gives you a lower life expectancy and an increased chance of serious illnesses like lung cancer and heart disease.

A typical man who quits smoking at age thirty adds about ten years to his life. Higher life expectancy means a lower insurance premium, so if you kick the habit you’ll live longer, save money on cigarettes and save money on your life insurance. It’s a win/win/win scenario. If you’re a non-smoker, you can’t add ten years to your life by smoking a single cigarette and then quitting. It doesn’t work like that.

Your insurer’s definition of a ‘non-smoker’ may vary, but in many cases it’s when you go 12 months without cigarettes or any nicotine-replacement. The sooner you kick the habit the better.

Hit the gym

Taking regular exercise gives all sorts of benefits to our bodies – it helps with weight loss, builds up strength and flexibility, reduces stress and makes you feel generally good about yourself (after the breathlessness, cramps sweating have all stopped). It also helps to reduce and problems linked with obesity, such as diabetes, high blood pressure and cardiovascular disease. If you can show to your insurers that you are actively improving your health through exercise, like joining a gym or a sports class, you could find a discount on your premium.

Picture by '713 Avenue' (Flickr)

Tell your insurer

Improving your lifestyle is all well and good, but your insurer isn’t going to know unless you let them know. If you’ve given up smoking, lost a large amount of weight or greatly improve your health, make sure to get some fresh life insurance quotes. You could be surprised at how much you have saved – combined with knocking the cancer-sticks on the head you will be able to offset the cost of gym membership.

Yes, it involves a bit of hard work and elbow grease, but these lifestyle tweaks mean that you’ll feel better, live longer and pay less. If you’ve attempted to improve your lifestyle and fail to meet your goals, sites like Habit Forge help you to take your new lifestyle a day at a time and keep you motivated to improve your health. It’s worth it in the long run, so give it a go.