When it comes to insuring professionals, insurance companies tend to lower their premiums. This is especially true for short-term household and car insurance. Having studied for three years or more to gain at least a three year degree lowers your risk profile as it shows a certain degree of responsibility to insurance companies. This will affect your monthly short-term car and household insurance premium favourably as this premium is based on your risk profile. Professional individuals are also more likely to have healthy lifestyles and fewer health risks, such as smoking and drinking. This will lower your health risk profile. Along the same line, life insurers expect professionals to live longer which results in a lower monthly life insurance premium. Professionals are also less likely to submit fraudulent claims or default on their monthly premiums. Numerous insurance companies have insurance schemes and products tailored specifically for professionals.