If you drink a lot, will you get higher life insurance quotes?
The kind of life insurance chosen (i.e., term life or whole of life), the age of the insured, the benefits that are chosen, and the lifestyle choices of the insured are all considered when insurance companies are determining the amount to charge the insured for a life insurance policy. It goes without saying that the person who wants insurance can do nothing about their age, but it is possible to lower premiums by choosing the right kind of life insurance, lower benefit payouts, and by making certain lifestyle choices that make the insured less of a risk to the insurance provider.
The dangers of smoking have been well documented, so it is clear that non-smokers and those who quit smoking lower their risk of death and, consequently, lower the risk they are for insurance policies that provide life cover. This lower risk is passed on in the form of lower insurance premiums. What may not be as well known are the savings that can be had when certain lifestyle choices are made regarding alcohol.
Studies have shown that excessive drinking can lead to a greater risk of death, and life insurance providers always pass on this risk in the form of larger insurance premiums for those who are excessive drinkers. Thus, persons who drink a lot will be charged more for their Family life cover than those who drink only occasionally. What constitutes excessive drinking differs a bit from company to company, but a good rule of thumb for many life insurance companies is that any person who consumes more two alcoholic drinks per day on average is an excessive drinker. This is true for any person whether or not this amount of consumption has proved to be a health or legal problem for the one in the market for life insurance.
Those persons who would be considered excessive drinkers and who are looking for the best life insurance at the lowest possible price do well then to lower their average consumption rate of alcoholic beverages. Get the average down to two drinks or fewer per day before buying an insurance plan and the premiums will be lower. Those who already have life insurance and are being charged higher premiums because they are considered excessive drinkers can get the average down and then ask for the premiums to be recalculated.
Representatives of our insurance are skilled at working with people of all kinds to get them the best life insurance cover for the cheapest rates. Persons in the market for insurance who fear that they might be subject to higher premiums because of excessive drinking should contact the company to find out whether they will in fact be charged more for their insurance coverage. Our insurance is also happy to work with Australians who are presently insured elsewhere to give them a more competitive life insurance quote that will allow them to save money and still have benefits great enough to provide for any who survive the death of the insured. Quotes and coverage explanations can be given immediately via telephone or the Internet for those who get in touch with us today.