How Health IQ Can Save You Money on Life Insurance

When you want to find ways to save money, you may be tempted to eliminate some bills altogether. When considering your cable bill or the monthly subscription that caught your eye, this approach isn’t bad. Life insurance, however, is different. Canceling your life insurance policy may free up some money month to month, but you need to consider the long-term consequences. Fortunately, you can find ways to reduce your life insurance costs without impacting your family members.

Start by reviewing your current policy, looking for any riders you don’t need or want. Eliminating riders can help lower your premiums. You can also consider paying annually instead of monthly — something that only 30 percent of millennials and 53 percent of Gen Xers surveyed by Health IQ knew could lower their rates. If these small changes don’t make a noticeable difference, re-evaluate the length of your policy and do some comparison shopping. For example, you may find lower rates with an insurance agency that relies on waist-to-hip ratios instead of BMI.

Here’s where Health IQ comes in. Health IQ has unique underwriting policies that have replaced the outdated BMI chart with meaningful data such as cholesterol calculations while factoring in a person’s health consciousness into their life insurance rates. Those with active lifestyles and more health knowledge benefit from lower rates. Take the quiz on reducing life insurance costs and then check out Health IQ’s in-depth FAQ page to learn more about how this process works and what you can do to responsibly reduce your life insurance costs.

 

 

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Written By
Sydney White is a Texas-born stay at home mom who enjoys spending time with her family, bargain hunting and, of course, writing. She is currently the editor-in-chief of Snipon.com.

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