The importance of having a solid life insurance policy for yourself and your family is rarely disputed these days. The thought of your loved ones having to cope with the financial pressures of the death of or damage to a principle wage earner is too horrifying for many families to even comprehend. But it's not a cheap process: life insurance costs money, and many people simply struggle to find the cash to meet the financially demanding monthly premiums. However, recent research has found two methods by which your premiums will be slashed. Both are easy, healthy and will save you even more money in the long run. Abide by their instruction and you should soon see the cash savings rolling in – and insuring yourself against injury or death will become that much cheaper.

The first is simple enough: if you smoke cigarettes regularly, give up. The amount of research supporting the claim that smoking kills has now gone beyond doubt: despite the best attempts by the tobacco industry to discredit any research produced, a no-smoking culture is here to stay, marked by the application and widespread adherence to the smoking ban in public houses introduced last year. Despite common beliefs that insurance companies will always treat you as a smoker if you've ever had a period of smoking, the reverse is actually true: after just one year of cutting out the cigs, you are officially classed as a non-smoker. “'Do you smoke?' is one of the first questions that an insurer will ask a new client, as a smoker will pay considerably higher premiums than a non-smoker,” said Matt Morris, policy adviser at life insurance specialist Lifesearch. If you have quit, then be sure to speak to your broker after 12 months. A cash saving could be awaiting you.

The second way to cut premiums is by losing weight. The obese – or those with a body mass index (BMI) of 30 or above, are being targeted by firms worried that their increased weight means that they're more likely to become ill. The so-called “fat tax” can mean premium hikes of as much as 50%, making it incerasingly difficult for the overwight to afford life insurance. One example has it that to insure a £200,000 mortgage, one couple would face a premium hike of around £220 a year if they were overweight but otherwise healthy – not an inconsiderbale amount of cash for losing a few stone. Shedding unwanted pounds may seem like a daunting task, but some insurance companies are actually giving away free gym memberhsip with their policies, and even offer a 2.25% dsicount to those who manage to go twice a week or more.
It's quite clear that using these two methods, life insurance costs can be brought into the realm of affordability and a more relaxed life can be attained for you and your family. If you're an overweight smoker, it's high time you started making some life changing decisions.