If you are looking for ways to acquire the least expensive coverage try these simple steps. I am confident you will benefit from one or more of the suggestions.
- Shopping And Annual Reviews
- Modern medicine works to expand our lifespan so when it comes to term life insurance, it really pays to shop around every few years especially if you have access to a broker instead of an agent. Brokers have access to several insurance carriers and can help you compare not only prices but benefits as well.
- Don’t Procrastinate
- You have no guarantee that there is a “tomorrow” with your name on it, and even if there is, your health can change in a heartbeat making life insurance more expensive or unaffordable.
- Stay Healthy and Ditch your High Risk Hobby
- I know you love that double bacon cheese burger, but does your heart? Losing even 5 pounds can make a big difference in what you pay for life insurance. Insurance companies have done all their research and they know the probability of someone dying in a sky diving accident is greater than a person playing chess. You may beat the odds, but what happens to your spouse and kids if you don’t?
- Be Honest
- If you lie on your life insurance application and die your beneficiaries are not going to get the death benefit you paid for.
- Sometimes underwriters will be a little more linient on their guidelines if you are open about your health issues.
- Don’t Buy Life Insurance From Your Brother In Law Or Best Friend
- Keep everyone honest by getting a few quotes from several agents. Then when your brother-in-law rolls out the new policy he has in mind, you’ll be even more convinced he’s trustworthy and has your best interest in mind.
- Quite Smoking
- Most insurance companies require you stop smoking for at least 12 months some as much as 24 months prior to your application to consider you a Non Smoker which greatly reduces the cost of life insurance.
Getting and maintaining your life insurance premiums low takes effort. You can not just buy your policy, throw it in a drawer and forget about it. Most policies have time sensitive options that can be missed if you don't review them annually. Talk to your agent. If he/she is not available, give us a call. We will gladly provide you with a complimentary review you can take back to your insurance company for confirmation.