1. Maintain a healthy lifestyle – When you buy a life insurance plan, the insurance company will request you to undergo some medical tests. This is generally done to ascertain your present health and see if you have had any past health issues that could leave a long-lasting effect on your body. If your health check-up reveals any concerns, the insurance company will charge you a higher premium. A simple way to avoid this can be by eating healthy and exercising regularly to avoid health issues. A healthy diet and routine can go a long way in ensuring good health and wellbeing

• Refrain from smoking and drinking habits – Your lifestyle choices, such as smoking and drinking alcohol excessively, can negatively impact your health and body. These habits also contribute to the premature ageing of your body and lead to a number of serious health disorders and illnesses like kidney issues, liver failure, and more. If you smoke or drink alcohol, the life insurance premium charged to you would be higher compared to others. So, to reduce your premium quit these habits as soon as you can
• Choose your riders smartly– Riders like the premium waiver on permanent disability and the critical illness benefit are helpful additions to your life insurance plan. They enhance your coverage and offer you additional protection in unexpected situations. However, it is important to understand that every rider comes with an additional cost. Hence, you should only buy them if you really need them and they fit into your budget. For example, if you already have an adequate health insurance plan that covers all illnesses, you can do without a critical illness benefit in your life insurance plan
• Start at a young age – The younger you are, the lower would be your insurance premium. As you age, your health starts to deteriorate and the chances of suffering from an illness increase. As a result, the insurance company sees you as a potential risk. To cover this risk, the company charges you a high premium. One of the best ways of reducing insurance premiums is to simply purchase the plan at a young age. This will also ensure that your loved ones are financially protected sooner, and you will be able to save a lot of money
• Buy policy online – Buying your life insurance online is another brilliant way to reduce your life insurance premium. When you buy a policy online, you deal with the insurance company directly. There is no agent or middle person involved in between and, therefore, no additional commissions. This considerably lowers your overall expenses. In addition to this, you can also get good discounts online. Purchasing life insurance plans online also lets you compare different plans easily, so you are able to pick the most cost-effective one.