How Lifestyle Changes Impact Over 40 Life Insurance Premiums

Your lifestyle can significantly impact your life insurance premiums if you’re over forty. Generally speaking, those who make healthy choices enjoy lower rates than those who engage in unhealthy habits like smoking or drinking. 

Regardless, getting life insurance coverage to protect you and your loved ones in case of unforeseen events is wise.

Many providers offer life insurance for over 40, designed for those who want extra financial protection at this stage of life.

Get A No-Obligation 40s Life Insurance Quote.

Is Getting Life Insurance After Forty Worth It?

Life insurance is valuable at any point in your life. It gives you and your loved ones a safety net to rely on through unexpected challenges. 

For example, if you suddenly pass, your life insurance plan can help your family stay in their home and maintain their lifestyle.

In many cases, life insurance may also provide funds to pay for certain obligations during a challenging time, such as a home mortgage or a child’s education expenses. 

You may consider getting joint life insurance if you have a partner. With this type of policy, you’re both covered for the same amount and period.

You pay one premium to cover both people. If one of you passes away, the lump sum benefit goes to the surviving partner. This is how joint life insurance policies work for couples over forty in the UK.

How Lifestyle Impacts Premiums

Life insurance costs depend heavily on how risky it is for an insurance provider to cover you. This means a better lifestyle–which translates to better health–will often result in lower premiums. 

Here’s a quick look at how your lifestyle impacts your monthly payments:

Weight and Body Mass Index

Your weight and height-to-weight ratio (also called ‘body mass index’ or ‘BMI’) can determine your likelihood of developing diseases related to being overweight (e.g., heart disease, diabetes, high blood pressure, etc.). A high BMI can cause your premiums to rise. 

Medical History

Even if you don’t have any symptoms, you may be susceptible to certain conditions based on your medical history. Some providers might look into your family’s health records to check for hereditary issues, which can affect the pricing of a life insurance policy.

Vices

Vices such as smoking and drinking can lead to serious health problems, including heart disease and cancer. If you’re a heavy smoker or drinker, you will likely face higher premiums. 

Do I Tell My Life Insurance Provider About My Lifestyle?

When you apply for life insurance coverage, your provider will ask about your lifestyle. Some companies may ask to see your medical records or require you to take a physical exam. 

You must disclose your health information to a potential insurance provider. They could reduce or refuse any claims and payouts if they discover you were untruthful in your application.

Is There Life Insurance That Doesn’t Consider Lifestyle?

There are life insurance policies with no medical history requirements, so you don’t have to disclose your lifestyle.

These are usually plans covering individuals in their later years and may offer guaranteed acceptance regardless of health. However, these policies may be tied to a waiting period. It’s best to clarify the terms with your provider to see if they work for you.

When choosing a life insurance policy, it’s also important to consider your daily lifestyle, such as how your hobbies and occupation affect your life.

For example, if you work a high-risk, physical job, you might want to determine when you need disability insurance over the age of forty and look for plans that cover any work-related risks.

Conclusion

Lifestyle changes impact your life insurance premiums, no matter your age. Maintaining a healthy and safe lifestyle can help lower the premiums of life insurance policies for people over forty.

Please get in touch with the Insurance Hero team for a free quote, and we’ll do our best to find the best coverage option for you.