Those who have reached the age of 75, many factors play into your life insurance premium. This means that life insurance for people over 75 will be more expensive than for those age 55 or 65 for some reasons. However, all of the reasons are tied to getting older, and while there is very little you can do about that, there are other factors that you can control.
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– Medical History
– Lifestyle Habits such as Smoking, Risky Behavior, and More
The truth is that there are quite a few things you can do to help lower the monthly premiums that you pay. First, you will need to recognize the factors that you can control and then take the appropriate action to start getting lower premium payments on the policy you have chosen.
This is arguably the most important aspects of those trying to get life insurance for 75-year-olds. However, many seniors at this age may overestimate how their medical history plays into the premiums. Most seniors are taking prescription medications for blood pressure and other ailments but have not suffered from a serious medical condition.
This means that unless you have suffered from a major illness, disease, or heart issue that is still affecting you today, it is wise to take the medical exam when qualifying for the insurance. By taking the exam, you stand to pay considerably less for your premiums unless something major is discovered. For most seniors, taking the medical exam is an excellent way to save on premiums. Plus, there is always the no medical exam or guaranteed policy if you have suffered from major medical issues.
One of the more interesting facts about life insurance for over 75 is weight combined with height. You may pay a lower amount for weighing a little more as you get older. This is because statistics show that as the person ages, they naturally go up a little in weight. So, it’s possible to weigh a bit more and pay less on your premiums.
However, you should not weigh too much as obesity can raise your premiums dramatically. Eating right and exercising will keep your weight to normal limits, but statistically, it is better to be a few pounds over than under.
Smoking is one of the big factors when it comes to the price of your monthly premiums. Quitting smoking can drop them considerably which means you pay less for your life insurance policy. Other bad habits or risky behavior needs to be curbed as well to save even more money. This includes consuming alcohol over certain amounts, illegal drugs, or participating in events that put your life at risk.
Besides, choosing the right type of coverage is also important to get a lower premium. Here are the types of policies available at this age.
You should ask your life insurance agent the different ways to save on your policy. By looking for the right discounts, you may be able to save 10% or more depending on few factors. You can save money on premium by requesting free quotes from us.