5 Tips to Save Money on Insurance Premiums

| December 12, 2013

HealthYou never know when disaster might strike. One moment you’re healthy and the other you’re not. It’s important to prepare for a situation such as this. Pretty much everyone has insurance. No one is foolish enough not to be covered. However, insurance premiums can be quite expensive. Sure it’s a safety blanket for when things go wrong, but it’s expensive. People don’t like spending too much on anything expect for an iPhone. Therefore, here are a few tips to lower your insurance premium. 

Get it while you’re Young

It’s best to get insurance as soon as possible. The younger you are the easier it is to get insured. Senior citizens have a hard time getting insured. There are so many medical tests to clear, not to mention the exorbitant premiums for the elderly. Therefore, be wise and get insured in your youth. A young person is less likely to drop dead of a heart attack. Hence, insurance companies don’t mind insuring them for a low cost. Living a healthy lifestyle is also beneficial. A person with abs is a picture of good health and a dream come true for insurance companies.

Get a Good Job

Most companies provide health insurance. Wait, let me rephrase that. Most good companies provide health insurance. It’s either free or inexpensive, as it comes from the people upstairs. Multi National Corporations get the best deals from insurance companies, unlike private individuals. If you want your insurance to cost next to nothing then get a good job. There are many perks to be enjoyed including health insurance. The premiums are automatically deducted from your salary, so you don’t have to remember to pay them. It’s still cheaper than any insurance cover you can find for yourself.

Super Size It

We’ve already mentioned that good jobs provide good benefits, like health insurance. However, what if you don’t like what you’re getting? What if the insurance your company is providing doesn’t meet your expectations. There’s no point in getting another one. Instead you can supersize the one you have already. Take your insurance cover to the next level and pay the balance out of your own pocket, simple. Since it’s a company policy you’ll still end up saving a considerable amount. It’s definitely better than juggling two different policies simultaneously. You’re not exactly a multitasker, are you?

Stick To the Basics

There are some people who can’t afford a good insurance policy and their employer is too stingy to provide them with one. To them I say keep trying. Even a basic plan is better than no plan. Sure it’ll only cover a finite number of treatments, but even that could be a big help. Don’t wait for a new job to get the insurance policy of your dreams. You can always upgrade your plan later on. Until then a basic one will have to do. You better star wearing cancer awareness ribbons and hope they find a cure soon, because this policy is only a safety net.

A Separate Policy for the Elderly

Insurance companies aren’t eager to cover senior citizens. They see them as a liability, which is why they run every test known to man to see if they’re healthy. Even after that they charge them a ridiculously large premium. If you have a floating policy that covers the entire family, including your elderly parents, then the premium can be quite large. Instead of that you could get two separate policies, one for your elderly parents and one for the rest of your family. It may seem like you’re sidelining them, but you’re actually doing it for the good of the family.

Healthcare isn’t exactly cheap and if you want to enjoy it you best be insured. Without insurance you’ll have to pay for your medical treatment from out of your own pocket. And since you know how deep your pockets are you can imagine how that’s going to turn out. With the help of the tips mentioned here you can save a considerable amount of money on your health insurance. Not only will your family be secured, but you’ll also be saving money. So, it’s a win-win. That sounds good to me, how about you?

Author Bio:

The author is this article is Jenny Wadlow. She is a professional freelance blogger. She writes articles for Fundraising for a Cause, providers of wholesale fundraising merchandise like autism ribbons. She uses her free time to indulge in reading and sports activities.


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Category: Insurance, Medical Insurance

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