EL DORADO HILLS, Calif., Oct. 21 /PRNewswire/ -- Americans have hit a 50-year low for buying life insurance, and the main reasons are that many people think they can't afford it or can't qualify because of their health.
But Gary Lardy, a respected insurance expert, says many people actually can afford life insurance, and they can even lower their insurance costs with simple changes that will also make them healthier.
"They don't need a total lifestyle change," said Lardy, CEO of IntelliQuote (www.intelliquote.com), a leading online life insurance agency. "There are little things people can do to improve or maintain their health. These changes may also result in lower insurance premiums, making their life insurance coverage more affordable."
One example: schedule regular visits with your primary care doctor. If your doctor finds you have a treatable condition, for instance, high blood pressure, he or she may be able to prescribe medication to control it. Once your doctor sees your blood pressure levels are down, your life insurance company can use those new, improved levels to refigure premium costs.
Lardy cites a study from LIMRA, a financial services think-tank, that shows only 44 percent of American households have individual life insurance, and he worries people are neglecting both their financial security and their health.
"So many people think their health issues, or even their unhealthy habits, automatically disqualify them from getting life insurance," Lardy said. "That's just not true, and it can result in many families being dangerously unprotected. Even if they don't qualify for the most affordable rates initially, it's best to purchase a policy to ensure coverage; if they take steps to improve their health, they can request a no-cost policy review that could lower their future life insurance premium."
Another more obvious change that can improve both health and life insurance rates is to quit tobacco use. Quitting smoking, chewing tobacco or using other nicotine products for just one year could result in lower insurance rates. On the other end, even something as simple as taking regular walks can improve health by lowering blood pressure and taking off a few extra pounds—and lower life insurance costs as well.
Lardy also urges people living with cancer or with a family history of medical conditions to speak with a life insurance agent. "Some carriers provide life insurance policies for 'health-impaired individuals,'" said Lardy. "It's important to reach out to your agent to find the policy that is right for you."
"This isn't just about life insurance, it's about people living longer, healthier lives," Lardy said. "And we want people to know that as they get healthier, they might also find it more affordable to protect their families with life insurance, too."
A leading online life insurance agency since 1997, IntelliQuote provides customers simplified, private access to compare, shop and buy life insurance, including term life insurance. IntelliQuote offers clients a wide selection of competitive products from A-rated carriers, supported by licensed agents. This simplified approach makes buying a policy easy and straightforward while providing a savings of up to 70 percent per policy. IntelliQuote is a member of the LIFE Foundation and is committed to ongoing consumer education. For information on how to estimate how much coverage an individual might need, visit www.intelliquote.com. For more information, contact www.intelliquote.com, or 888.883.6855.
Available Topic Expert(s): For information on the listed expert(s), click appropriate link.