I have been leading an unhealthy lifestyle since last 6 months which resulted in high cholesterol levels. I got my term plan within this period and they almost doubled my premium because of this reason. I’m already working on reducing my cholesterol levels by living a healthy lifestyle. Should I cancel this term plan and get one after the levels are reduced, or continue with the increased premium?
3 Likes
Typically you can apply for a rate reduction after about a year. You could clean up your diet and lifestyle and get a rate reduction later.
2 Likes
How do I know if the insurance provider would even do something like that?
2 Likes
Maybe ask your agent
1 Like
Did your rating go from perfect to average, or from average to substandard? My guess is they underquoted you at first. Accept the coverage, work on improving, and reapply or rerate in a year.
1 Like
Don’t cancel…
What was your cholesterol, HDL or Chol/HDL ratio, and triglycerides?
Giving those numbers will help people here tell you if you can get something better somewhere else using the exact same labs.