6 Tips for Minimising Your Insurance Premiums

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Paying regularly for anything is tough, and paying regularly for something which seems as untouchable as life insurance can be particularly hard.

Before taking out your life insurance policy, it is best to do as much as you can in order to make the regular monthly premium payments as small as possible. Here are six tips to help you get those direct debts down.

1 – Stop smoking

By far the biggest culprit for high life insurance premiums, smoking is the true enemy of low-cost life insurance!

On average, a smoker pays as much as 100% more for their life insurance policy than an equivalent non-smoker.

For some people with a comprehensive package, that’s as much as £75 a month more than their imaginary smoke-free twin!

When applying for life insurance, the smoking question is always asked, and you have to answer ‘yes’ if you’ve so much as taken a puff in the previous 12 months.

What’s more, insurance companies don’t discriminate – while you might have been told vaping or e-cigarettes are a healthier alternative to a standard cigarette (and there’s nothing wrong with that), the fact is that as far as your life insurance is concerned, there’s no difference. Whether smoking or vaping, you are doubling your premiums!

If you have managed to go a full twelve months since you last had a cigarette then give us a call at Quick Quote Protect today and we’ll shave a substantial chunk off your current life insurance premiums or, if you are yet to get a policy, call to start one now while you are doing so well!

2 – Don’t do drugs

If smoking is the biggest problem, other less-legal recreational drugs are no better. Insurance companies want to see a healthy and clean lifestyle, and so should you.

Cut out the drugs if you can, but remember to always answer truthfully when applying for insurance – anything else is fraud. If you passed away and the cause was due to any drug usage that was not declared when applying for life insurance, then your loved ones are very unlikely to receive that payout - this is because of the false information that was provided when applying for life cover.

Regardless of your lifestyle, always be honest about any habits - that way, you can rest assured that your loved ones will definitely receive a lump sum should anything happen to you.

3 – Get fit

In most aspects of your life, it’s fair to say that no one is judging, but when it comes down to getting a personal life insurance policy, you will be asked about your weight and questions regarding your fitness level.

Insurance companies need to assess your risk and though you might like to hide it, an overweight and unfit person is more of a risk to them than a gym-loving, healthy eater.

4 – Opt for a health tracking policy

Ask your advisor about the range of health tracking life insurance policies out there. With an online portal to help track your health, you can prove to your insurers just how much you care for your own health and fitness and they’ll reward you with lower premiums.

Plus, there are additional bonuses such as cinema tickets and free coffees with some insurance providers! Don't hesitate to get in touch with us to find out more.

5 – Reassess your insurance needs

Did you take a life insurance policy out a while ago when your life and responsibilities were different?

Making sure your life insurance policy reflects your current situation, your actual needs and it is not a pale reflection on life as it was a decade or two ago is important!

Take a good look at your insurance needs and see if you (or we!) can come up with a better fit.

6 – Let us help you!

At Quick Quote Protect, we live life insurance every day, keeping a solid eye on the latest changes in life insurance and any competitive deals. Whether you are yet to start a life insurance policy, or have had one for decades, there’s every chance we can find something that brings your premiums down.

Give us a call today for advice and a look at the options available to you – we’re sure to be able to find something just perfect!