People resort to insurance to keep themselves safe from all insecurities of life. This insurance takes care of every small thing related to your life. You pay your premium monthly or yearly to keep yourself and your loved ones financially safe. But due to some inaccuracy, your insurance premium may increase. Therefore, you should also take some caution. We will try to tell you through this news that by taking care of important things, you can stop the premiums of your insurance.
Cigarette and alcohol intake:
Sigert and alcohol consumption are dangerous for your health. Because of this, the possibility of illness or death becomes intensified. Let us know that before the insurance companies decide on the premium, the applicants always ask about these habits. If you do not smoke cigarettes then you have to pay less premium in this situation. On the contrary, if you are smoking etc. then the amount of premium can increase. So avoid such habits.
What kind of business do you do
If you are involved in a profession, it is risky and if you are more likely to know about it then it can also increase your insurance premium. This profession can be Sea Diving, Bomb Diffusion Unit, Fire Fighting etc. From such people, insurance companies charge more premium than the common man.
Your health, or your health, can also play an important role in deciding insurance premiums. Understand with example. If you have a heart related illness or you have diabetes etc. then you may be able to recover more premiums than your normal life insurance company. Insurance companies ask their health status before giving such a policy to such people.
Policy Period and Sum Assured
The more the period of the policy, the lower the premium. Therefore, if you take an insurance policy at an early age, then the premium paid for it is also reduced. That’s because insurance coverage is for a long time.
More healthier, more premium
If you are a bit more healthier, that is, if your weight is more in proportion to your length and age then the premium for insurance will be high. This is because people with heart disease, heart disease, diabetes, blood pressure etc. are more likely to be more common than people.
How do premium payments
How you pay for insurance premium, it can also decide on your premium. Payment of premium is done annually, twice a year, once in a full payment, quarter or monthly basis. If the total amount of insurance is calculated then the annual premium is lesser than the other options.
Insurance policy with riders
To get more benefits on their current policy, people choose riders according to their needs. The premium of the policy taken with the more riders is more than the ordinary policy. In such a sensible sense, it is in this case that with the policy, only select the rider as per your need.
Online or offline policy
Online policy is cheap compared to offline policy. This is because all the expenses are saved when buying online. Such as the commission’s commission, distribution channels, administrative costs, etc. Also, while purchasing an online policy, you can also customize the policy accordingly.
Low premium for women
Insurance companies offer special facilities to women. That is, the premium of your policy depends on whether you are a woman or a man. It is believed that women are more in age than men. In such cases, insurance companies set lower premiums for women.