At a glance:

  • Several factors can influence your eligibility for income protection insurance and the cost of your policy.
  • It is important to disclose any relevant information regarding your lifestyle choices when applying for income protection coverage.
  • Lifestyle changes can help you reduce your income protection insurance costs, which can result in long-term savings.


The purpose of income protection insurance is to provide financial support if you cannot work as a result of an illness or injury. A safety net can be of substantial help to those whose incomes are a source of income for themselves and their families. Several factors can influence your eligibility for income protection insurance, including your age, occupation, health, and lifestyle choices.


This blog will explore how lifestyle decisions may influence income protection eligibility and cost. In addition, we’ll give you tips on how to make lifestyle changes to reduce the cost of income protection insurance. Keep reading to learn more about income protection insurance and how lifestyle decisions can impact it!


How can lifestyle decisions impact the eligibility and cost of Income Protection insurance aspect uw



Factors that affect eligibility for income protection insurance


Several factors can influence your eligibility and the cost of income protection insurance. In addition to age and occupation, lifestyle decisions can also affect these factors.




Your age can be a significant factor in qualifying for income protection insurance. Most insurers will charge you higher premiums the older you are, and some may not even offer coverage if you’re over 55.




Income protection insurance eligibility can also be affected by your occupation. For example, insurers may charge higher premiums if you work in a high-risk industry or perform physical labour, since you will be considered a higher risk.


Lifestyle deisicons that impact income protection insurance cost, eligibility, and premiums



Smoking is an important factor affecting income protection insurance costs and eligibility. As a result, insurance companies often charge higher premiums for smokers because they are at a greater risk of developing health conditions that can cause them to miss work. The monthly premium for income protection insurance for a 35-year-old non-smoker maybe $50, but for the same coverage for a 35-year-old smoker, it may be $80 or more.


Alcohol consumption

Another lifestyle factor that affects income protection insurance costs is alcohol consumption. Consumption of too much alcohol can lead to health problems, accidents, and injuries, resulting in time off from work. People who consume excessive alcohol may face higher premiums from insurance providers who view it as a risk factor.


Precarious hobbies

If you engage in dangerous activities, such as extreme sports or hobby activities, that have a high level of risk, you may be ineligible for income protection coverage. These actions may be considered high-risk activities by insurance companies, resulting in higher premiums or refusal to provide coverage.


Pre-existing medical conditions

Last but not least, pre-existing medical conditions like diabetes, cancer, and high blood pressure can make income protection insurance ineligible for you. Those with may face higher premiums or be denied coverage by insurance providers altogether.



Unhealthy lifestyle decisions can impact income protection insurance claims


You can expect your insurer to take a close look at your medical history and lifestyle habits during a claim to determine the reason for the illness or injury. An insurer might investigate whether an individual’s pre-existing condition or lifestyle behaviour-such as smoking or excessive alcohol consumption-played, a significant role in the claim in case it pertained to a pre-existing condition.


Smokers with lung disease who make claims may be required to provide medical evidence that they attempted to quit smoking before the diagnosis. Your insurer can reduce or deny your claim if you don’t have any evidence that you have tried to quit smoking.


Additionally, your insurer may look into whether your lifestyle choices caused your condition if you are sedentary and make an income protection claim for back pain or joint problems. In such cases, to speed up your recovery, your insurer may advise you to participate in regular exercise and physiotherapy. A lifestyle decision can have a significant impact on income protection claims and eligibility, so when applying for coverage, it is important to disclose any relevant information.



Lifestyle changes to reduce the cost of income protection insurance


A healthy lifestyle will lead to lower income protection insurance premiums. A lifestyle change can help you reduce your income protection insurance costs, which can result in long-term savings.


Quit smoking


Myriad health problems can be caused by smoking, including respiratory illness and cardiovascular disease. This can cause extended periods of absence from work. Insurance companies often charge higher premiums because smokers are more likely to make a claim. If you quit smoking, you can save money on income protection insurance as well as improve your health.


Maintain a healthy weight


Maintaining a healthy weight is crucial in order to maintain good health and reduce the risk of diseases such as diabetes, heart disease, and stroke. Insurance companies may charge higher premiums for obese or overweight individuals because they are more likely to suffer from health problems that could cause them to miss work. Keeping a healthy weight reduces your threat of developing health problems and can also reduce income protection insurance premiums.


Exercise regularly


Regular exercise lowers the risk of depression, anxiety, and other mental health problems that can interfere with employment. The benefits of regular exercise, thus, include maintaining a healthy weight and reducing your risk of many health conditions. Individuals who exercise regularly may have lower premiums, as they are viewed as lower risks. Make exercising a part of your daily routine to reduce your income protection insurance costs.


Manage your stress levels


Health problems linked to chronic stress include physical and mental health problems. It can be helpful to lower your stress levels by practising meditation, yoga, or simply relaxing and doing something you enjoy.


Eat a healthy diet


To maintain overall health and reduce the risk of various health problems, eat a healthy diet. Eating a healthy diet based on fruits, vegetables, whole grains, and lean proteins can help you maintain an ideal weight and prevent many diseases.



In summary, a person’s lifestyle decisions can affect not only eligibility for Income Protection insurance but also the cost of such insurance. High-stress levels, lack of exercise, smoking, and poor dietary habits can all increase the risk of health problems and raise insurance premiums. In contrast, being active, managing stress, quitting smoking, and eating a healthy diet lower your chances of developing health problems whilst also lowering your insurance costs.


Moreover, if you are unable to work due to illness or injury, income protection insurance is an important safety net that can provide financial security. When times get challenging, Income Protection insurance can protect your income and keep you financially stable.


Consider Aspect if you are looking for affordable and reliable income protection insurance. Exceptional customer service and comprehensive coverage are key elements of our insurance policies. Get an income protection insurance online quote today to protect your income and secure your financial future.

Mike Wallis

Mike has over 25 years experience, having spent his first seven years working as a Broker at Jardine Lloyd Thomson in Melbourne and in 2002 was transferred to JLT’s Accident and Health Department in London. For four years (2002 – 2005) Mike was a specialist A&H Lloyd’s Broker and during this time developed excellent relationships with the Lloyd’s A&H underwriting fraternity. In 2006 he returned to Australia in a senior broking position with overall responsibility for Placement Strategy, including the implementation of underwriting facilities and the various authorities granted by Lloyd’s. Mike was the underwriter at two specialist Underwriting Agencies prior to founding Aspect Underwriting in 2016.