Life and Health Insurance Costs Linked to Preventive Medicine

A growing debate over ways to promote public health is likely to have an impact on both life and health insurance costs in the coming years.

The cost of a life insurance policy can be heavily influenced by pre-existing conditions such as diabetes that in many cases can be prevented earlier in life with proper exercise and diet. Similar preventive measures would also trim billions in healthcare costs nationwide, which in turn would benefit insurance policy holders.

A recent Reuters report notes that one aspect of this discussion focuses on the emerging debate in some states over whether sugary sodas and snack treats should be taxed. The idea is attractive to state governments seeking out new sources of revenue in the current recession, but will likely face heavy opposition from well-funded groups representing the food industry, while also proving unpopular among consumers.

Reuters also noted that by placing a three-cent tax on every can of soda sold in the U.S. each year, $50 billion would be raised over the next decade. The wire service also cited survey results showing that 58 percent of the public would accept a 1 percent tax increase to support healthcare reform in general.

Whatever reforms may be enacted in the coming years, a good way to hold down life and health insurance costs can start with simple measures like quitting smoking and getting more exercise.