How Your Health and Lifestyle Affect Life Insurance Costs Premium Power
Life insurance is a pivotal element of financial planning. Witnessing what happens to a family when a breadwinner dies without it is enough to motivate most buyers. Few realize in advance, however, that some factors determining insurance costs are within their control. Your age, of course, is not one of them. Buyers’ costs may rise as much as 8%–10% for every year of age. Men, in general, typically pay more for life insurance because women’s life expectancy is longer. Insurers also look closely at an applicant’s medications and personal and family medical history. A pattern of cancer, stroke, cardiac arrest, or other serious
conditions among parents or siblings will raise your costs.
a physical exam, be aware that you will probably pay more
and get less for your money in the form of a lower death benefit.
Other risk factors are at least partly within
buyers’ control. Smokers must pay up because
Keeping your weight down and sticking to a healthy exercise routine can lower
the habit elevates their risk of cancer, stroke, and heart and lung disease. In fact,
premiums. Daredevil hobbies like sky-diving or auto racing or working at risky jobs like roofing, mining, or truck driving have
smokers may have to pay up to twice as much as non- smokers for similar coverage. Claiming you only vape or smoke
the opposite effect. Even your driving record plays a role. If you’re accident- prone or have incurred a lot of tickets for speeding or other moving violations, insurers will know and charge you more. While the rigor of life insurers’ screening process may surprise first-time buyers, it makes sense: The greater your risk of death, the more an insurer must charge to protect your loved ones or other beneficiaries.
occasionally won’t get you much of a break on premiums. Drinkers, too, face added costs. Reducing or eliminating alcohol may earn you a lower premium. Trying to hide your bad habits isn’t wise. If you fail to tell the truth, the insurer may cancel your policy when your fib is discovered or deny death benefits to your family. If you’re tempted to shop for an insurer that doesn’t require
COACH’S CORNER
“The only place success comes before work is in the dictionary.” -Vidal Sassoon “The greatest accomplishment is not in never falling, but in rising again after you fall.” -Vince Lombardi
Cheesy Chicken Chowder
Inspired by TasteOfHome.com
Rich and comforting, this cheesy chicken chowder is the perfect cure for winter blues.
INGREDIENTS
“Don’t measure yourself by what you have accomplished, but by what you should have accomplished with your ability.” -John Wooden
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3 cups chicken broth
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1/2 cup diced onion
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2 cups whole milk
2 cups peeled and diced potatoes
1 1/2 tsp salt
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2 cups shredded cheddar cheese
1/4 tsp pepper
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1 cup diced carrots 1 cup diced celery
1/4 cup butter, cubed
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2 cups cooked and diced chicken
1/3 cup all-purpose flour
DIRECTIONS 1. In a 4-quart saucepan, bring chicken broth to a boil. Reduce heat and add potatoes, carrots, celery, onion, salt, and pepper. Cover and simmer for 12–15 minutes or until vegetables are tender. 2. In another medium saucepan, melt butter and stir in flour until smooth. Slowly stir in milk. Bring to a boil over medium heat and stir for 2 minutes or until thickened. Reduce heat, then add cheese, stirring until melted. Add the cheesy mixture and chicken to the broth and heat it thoroughly!
“It’s not whether you get knocked down; it’s whether you get up. ” -Vince Lombardi
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