2. Gluttony

By Melissa Neiman Posted : 01/17/2012

gluttony2. Gluttony

Gluttony not only thickens you waistline -- it also can inflate your health and life insurance payments.

If you eat large amounts of unhealthy food and get little to no exercise, your health is bound to suffer. This, in turn, may affect your health insurance rates or even your ability to obtain health insurance altogether. At the very least, you will probably require more doctor visits, which means you'll spend more money on co-payments.

By contrast, trimming back on gluttony can actually cut your costs.

"Health insurers are now trying to address this proactively. If you join a gym and can prove to the health insurer that you have been going on a regular basis, many (insurers) will give you a cash bonus," says Barry. 

For example, the Fit Choices by Medica program provides a monthly $20 credit toward health club fees for members who meet attendance requirements.

Life insurance rates also may soar if you develop a medical condition as a result of your gluttonous eating habits.

"Almost every life insurer is going to ask a prospective policy holder to submit to a physical exam as part of the application process," says Barry.

Barry says insurance companies ask the same questions of every applicant. Are you healthy? Do you have high blood pressure or a predisposition to diabetes?

"These are all rating factors," he says.

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