What do you get in return for living a healthy lifestyle? If your answer includes things like the self-esteem that comes with looking good and the physical advantages like stronger muscles and less fat, you’re on the right track. But there’s a more immediate bonus, one that can be measured in dollars. The truth of the matter is that many bad habits cost money, and a new healthy outlook on life can save money both in short and long-term.
Cheaper Life Insurance Premiums
Whenever people decide to opt for healthier lifestyles by exercising or eliminating junk food from their diets, they seldom think about how those positive changes can affect the cost of insurance. This is especially true for non-term policies that carry a cash value and often require a physical exam. It’s common for carriers to increase premiums for individuals who are excessively overweight, who smoke, or who consume too much alcohol.
Adults are able to afford to purchase more coverage for less when they are in top physical shape. There’s an added benefit for those who opt to sell their policies at a later date, it means getting a higher price. This happens when people decide to take advantage of a life settlement, an arrangement in which the insured sells a life insurance policy for an amount less than the death benefit but greater than the cash value. This is one of the few examples where it’s possible to put a specific dollar value on the advantages of eating right and living with wellness in mind. If you want to find out how much your current policy is worth, you can contact a carrier and ask them to calculate the precise dollar amount for you. Then you’ll have a good idea of how much you might get from a life settlement.
Watch Your Budget Improve
An average smoker or consuming alcohol each day stands to save thousands per year in terms of the price per pack of cigarettes and the cost of alcohol. Unwise choices often cost real money. You can apply the same math to your consumption of junk food like candy, chips, and soft drinks, which are non-essential by definition. If you are one who enjoys getting carryout from your favorite restaurant multiple times per week, just think about how much you would save on your monthly budget if you opted for going to the grocery store instead. Not only will you save on your monthly food bill, but you’re likely to trim the waistline as well, as you have much more control over the foods you eat and the ingredients you include.
Save at the Pump
Trading out a few driving trips each week for walking excursions does wonders for your body but also chops out a nice bit of your monthly fuel expense. Try keeping the car in the garage and choose to walk or bike ride to the park, around the lake, or to a family or friend’s house instead of using gas a couple times per week and watch your savings start to add up.