Lifestyle 'affects price of life insurance'

By Marianne Straker, Mon 8 Feb 2010 - Published in Life Insurance

People can reduce the cost of their life insurance by making a few changes to their lifestyle, an expert has claimed.

Kevin Tooze, managing director of Equity Partners, pointed out that the cost of cover is influenced by factors such as if people smoke or drink and how much they weigh.

"If you put down that you are consuming too many units [of alcohol] a week or a month, that will have an adverse effect," he explained.

Mr Tooze also said that if people undertake healthy activities such as sports, it could lower the price of their policy, as it shows they are following a good lifestyle.

However, he noted that the cost of life insurance could increase if people take part in potentially dangerous activities like rock climbing or hang gliding.

In addition, the expert said that certain careers can attract a more expensive premium if the insurer considers them to be risky.

Last month, a post on the Private Health Insurance blog claimed that people can manage the cost of routine medical visits and examinations through health cash plans.

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