Commissioner Says Resolutions Can Save Money

Jan 4, 2013

OKLAHOMA CITY (AP) — Insurance Commissioner John Doak says Oklahomans can cut their insurance rates by keeping their New Year's resolutions.

Doak says losing weight can save 5 to 15 percent on new or existing life insurance policies. But not all insurers allow existing policyholders to apply for better rates.

Smoking significantly increases the cost of life insurance as well as disability and long-term care insurance. Most insurers require 12 months of being tobacco-free before they allow nonsmoker rates.

Oklahomans who improve their credit ratings can also see better auto and homeowners insurance premiums.

Copyright 2013 The Associated Press.