How Does Family History Affect Your Life Insurance Premiums?

We all hope to retire early and comfortably. Throughout our professional lives, we look for ways to tighten spending in exchange for securing our savings or making new investments. One way that many people look to save money is by making a few lifestyle changes to lower their monthly premiums on life insurance. For example, you can be more frugal by eating healthier, joining a gym, and stopping poor health habits such as smoking. You’ll find many ways to improve your health and lower what you pay for a life insurance policy. However, some factors can be beyond your control.

Your family’s health history is one factor that affects how much you pay in premiums. For example, insurers will check whether anyone in your family suffered from heart disease or experienced a heart attack before the age of 60. These major red flags can cause insurance companies to assume greater risks by insuring you, and you can expect to pay more for a policy.

Knowing that your family health history will lead to higher insurance prices may be discouraging, but don’t neglect the factors that are under your control. If you have a family history of heart problems or similar issues, use it to inform your decision to take up a new form of exercise or add a new healthy meal to your diet.

Test your knowledge with a short quiz to help you learn how family history can affect your life insurance premiums. You can also explore the in-depth FAQ section on HealthIQ.com for more information about how companies make decisions about life insurance and what you can do to reduce your premiums.