One million dollars may sound like a lot of money. However, suppose you have a mortgage, outstanding debt, and loved ones who rely on you for support. In that case, a million-dollar life insurance policy becomes less of an extravagance and more of a necessity.
Suppose you're married with two children and just bought a new home for $450,000. If the unexpected were to happen, you want the peace of mind knowing that your spouse could financially continue to make the mortgage payments and save for your children's education. In that case, a million-dollar insurance policy seems like a good idea.
The cost of a million-dollar life insurance policy doesn't have to be out of reach, especially if you're in good health. Consider the following healthy lifestyle habits when looking to secure life insurance for a million-dollar policy.
One of the first questions your potential insurer will ask you is if you're a smoker. Insurance companies are in the business of risk, and smoking makes you more susceptible to diseases such as lung cancer.
According to the CDC, cigarette smoking is linked to 80-90% of lung cancer deaths. The CDC states that "Quitting smoking at any age can lower the risk of lung cancer." Even if you've been a lifelong smoker, it pays to quit. Besides the demonstrated health benefits, you'll earn yourself a lower premium on your million-dollar life insurance policy.
Weight loss is another way to qualify for a lower rate on your million-dollar online life insurance policy. You'll benefit in many ways when you move toward a healthier weight. Obesity can lead to diabetes and high cholesterol, which could result in heart disease or a stroke. Losing weight can also improve your overall energy level, which creates a happier, healthier lifestyle.
Eating right is connected to weight loss, but it goes beyond that. Lowering salt and fat intake and controlling your cholesterol help you maintain a healthy weight and reduce the risk of heart ailments and other medical issues. When you maintain a healthy diet, you'll likely enjoy a longer and fuller life—and be less of a risk to your insurer.
Potential insurers won't always ask directly about your healthy daily habits. However, by eating right, you're more likely to earn a lower insurance premium.
When it comes to your overall health, once again, the CDC offers excellent advice: to be your best, get 150 minutes of moderate exercise a week. When you break it down, that equates to only 30 minutes of exercise per day, five days a week.
If you're not used to exercising, begin gradually. Brisk walking is an excellent way to start. Then add muscle-strengthening activities a couple of days a week. Before starting any exercise regimen, it's wise to check with your doctor first if you have any extenuating medical circumstances. They can help you develop a plan that's right for you.
Avoid a risky lifestyle
Insurers look at how risky your lifestyle is when determining your premium rates and payout limits. If you spend weekends scuba diving in shark-infested waters, you'll likely have a higher premium than if you engage in less-risky hobbies such as gardening. Your profession also plays a factor. Your rate will increase if you have a high-risk job, such as a logger or commercial fisherman.
How's your driving record? Potential insurers may check with your state's DMV. If you've incurred multiple offenses, such as a DUI, that will drive up your rates. By practicing safe driving habits, you can lower your rate and secure a higher policy.
Following these helpful tips may make you eligible for a million-dollar life insurance policy online at a reasonable cost. Your rate will be unique to you, based on factors such as your age, gender, and health. However, you're more likely to qualify for a policy with a higher payout if you're in good health, whatever your age.