Gary Taffet Reveals Life Insurance Shopping Secrets

PHILADELPHIA, PA, May 08, 2013 (Press-News.org) Nobody necessarily enjoys putting the time into shopping for a life insurance policy--yet according to insurance professional Gary Taffet, doing the proper legwork can help individuals to save massive amounts of money on their premiums. In particular, understanding how health and wellness, and lifestyle risk factors, play into the life insurance process can prove highly beneficial for those seeking to get the best rates. To validate his point, Taffet points out a recent article from Buffalo News. The article points out the important of doing sufficient research before signing on for a life insurance policy, and lists some specific steps individuals can take as they seek to save money. Gary Taffet has issued a new statement to the press, commenting on these important points.

"Getting put into a less-favorable tier can mean that you end up paying hundreds of dollars more on your life insurance premiums year after year--and in the end, it can increase your payments by thousands of dollars over the life of the policy," Taffet explains. "Moreover, some very small and subtle factors--a cholesterol level that is just four points above where it needs to be--can result in an unfavorable tier. As such, individuals are smart to study up on how health and lifestyle affect premiums, and to do whatever they can to place in more positive tiers."

One specific step listed in the Buffalo News article is to get a medical examination at the beginning of the application process, rather than saving it for the end. The results of this exam can have a significant impact on the rates offered, so getting it done early provides the individual with a frame of reference from which he or she can more accurately shop around and compare prices. "You can approach an agent and share the risk profile you received at the exam, and ask what kind of rates they can offer, rather than flying blind through the comparison process," Taffet opines.

Another tip is to quit smoking. "Stop smoking and you will save massive amounts of money on your premiums," Taffet affirms. He also advises individuals not to bother lying about their smoking, as insurance companies have many ways of ascertaining the truth.

Losing weight is another way to reduce premiums. "Obesity provides a greater risk for the insurance company than almost any other factor," Taffet says. "Getting fit--even losing five or ten pounds--can save you a few dollars."

Ultimately, Taffet says that insurance shoppers benefit from "doing whatever they can to make themselves appear less risky to insurance carriers."

Gary Taffet is a veteran of the life insurance industry.

ABOUT:

Gary Taffet is a veteran of the insurance and employee benefits administration industries. He currently serves with the New Jersey-based Reliance Insurance Group, a national leader in all manner of employee benefits and insurance services. At Reliance Insurance Group, Gary Taffet provides audits and reviews of employee benefit plans, and makes suggestions on how companies can receive better benefits while improving their cost efficiency. Reliance also provides services in health and life insurance brokerage.