Some Lifestyle Choices That Affect Your Life Insurance Rates
Posted on: 4 December 2017
Many people do not feel the need to have a life insurance policy. If you are among this group, it is time to sit and rethink things. If you were to suddenly pass away, what would your financial picture look like? Do you have any debt? Do you have children that would still need to be cared for? Do you have enough money to take care of your funeral, burial, or cremation? You do not want to leave a financial burden on your family, so life insurance should be considered. Your age and health will have a direct impact on how much you pay for a policy; there are some things you have chosen to do in or with your life that will cause you to pay more too, such as:
Occupation
While what you chose to do for a living is not always something you can change, you should be aware that if it is life-threatening, you will pay more for life insurance. There are some careers that are obviously more dangerous than others, such as race car driving, a circus acrobat, and fishing (just watch "The Deadliest Catch"). However, there are others that may seem common and safe enough that aren't, such as logging, farming, and garbage collectors.
Hobbies
Things you enjoy participating in when you are not working can also cause life insurance rates to increase. Any type of acing with a vehicle, to include bikes, cars, and boats, is going to be considered dangerous. Activities that take you into the sky, such as hang gliding, hot air ballooning, or aircraft flying also put you in the high-risk category. You will also be considered at-risk if you spend your time at the beach surfing, or go to rivers for some whitewater rafting.
Driving Record
If you have a lead foot or tend to cruise through stop signs when no one is coming the other way, you probably have more than a couple of moving violations on your driving record. While you may not end up with an increase in your auto insurance yet, it might cause you to pay more for your life insurance. If your auto policy has increased already, the odds are good that so has your life insurance policy.
The listed lifestyle choices do not mean you need to need to make a career change or quit doing the things you love. However, you should be prepared to pay extra for insurance. You also need to be serious and consistent in taking all the precautions possible to stay safe. The worst part about these activities is not higher premiums, but what could happen to you.
Contact a company like Woodmansee Insurance Inc for more information and assistance.
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