
5 Tips To Reduce Life Insurance Premiums
5 Tips To Reduce Life Insurance Premiums
W/II/1316/2023-24
W/II/0354/2024-25
W/II/1208/2024-25
For offline Signature refer to Offline Signature Brochure
*Conditions apply
*Conditions apply
Life insurance is a financial instrument that helps you protect the financial interests of your loved ones in your absence. Life insurance can give your family members financial support, dignity, and respect to carry on with their lives as before. Therefore, it is a must for everyone, irrespective of their age or income.
Life insurance offers your nominee a sum assured in return for a premium. The premium is decided on the basis of a number of factors like your age, gender, health history, and more. If you are thinking of purchasing life insurance and wondering, “Can I reduce my life insurance policy premium?” the answer is yes. This article addresses the various ways of reducing insurance premiums. Keep reading to find out more.
Here are some ways of reducing insurance premiums that you can try when you purchase a life insurance plan:
1. Maintain a healthy lifestyle – When you buy a life insurance plan, the insurance company will request you to undergo some medical tests. This is generally done to ascertain your present health and see if you have had any past health issues that could leave a long-lasting effect on your body. If your health check-up reveals any concerns, the insurance company will charge you a higher premium. A simple way to avoid this can be by eating healthy and exercising regularly to avoid health issues. A healthy diet and routine can go a long way in ensuring good health and wellbeing
These 5 ways of reducing insurance premiums can help you save money and, at the same time, help you improve your health and get a plan that is suited to your needs. So keep them in mind before you buy a life insurance plan. In addition to this, also remember that the plan’s coverage and features are the most important things that you should look at. Compromising on these for the sake of a lower premium can jeopardise your family’s future. So, always make mindful decisions after looking at all aspects instead of only prioritising the costs involved.
COMP/DOC/Dec/2021/2712/7136
© ICICI Prudential Life Insurance Co. Ltd. All rights reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Regn. No. 105. CIN: L66010MH2000PLC127837.