Tips To Qualify For Cheap Senior Life Insurance

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If you are past the age of 50, you need to consider your financial decisions carefully. You need to make sure your decisions are based on what you need. Therefore, buying the right insurance is an issue you cannot ignore. You may need to shop around for an affordable product that covers you adequately. Hence, you may consider buying the term policy to provide you with coverage over a period of time. Alternatively, you can consider the whole life policy for seniors if you can afford to pay a little more. Some of the tips to qualify for a cheap senior life insurance policy include:

  • Manage your weight & cholesterol levels

Many of the senior citizens struggle with being overweight and having high cholesterol levels. Therefore, if you are looking for an opportunity to be qualified for cheap policies, you need to reduce your weight to keep it normal. Furthermore, you need to visit your doctor who will be in a position to advice on ways of managing your cholesterol levels. No doubt, you will need to adhere to a healthy diet. In addition, you will need to engage in an effective excise program.

  • Avoid smoking

Many of the insurance companies consider several risk factors, such as smoking, when determining the insurance rates. The non-tobacco group often qualifies for cheaper rates while the standard tobacco users attract expensive premium rates. In many instances, non smokers benefit from policies which are twice as cheap. Therefore, if you are looking for cheaper policies it is time to consider quitting smoking. If you have stayed away from cigarette smoking for the last 12 months, you stand to benefit from cheaper premium rates.

  • Avoid alcohol & substance abuse

The consumption of alcohol is common among senior citizens. However, alcohol and substance abuse have the capacity of increasing your premium rates. Insurance companies consider heavy drinkers and drug abusers risky- in the sense that they are more likely to fall ill and die when compared with regular folks.

  • Being qualified for insurance:

Generally, if the chances for death are high, the premium rates for the senior term insurance policy will be high. It is common for many insurance companies to have in place strict conditions that need to be met by the applicant before they can be qualified for their policies. The service providers often categorize policy applicants into several health clusters. Therefore, if you have a pre-existing health condition, you will be rated differently from a healthy person.

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