If you are looking to find affordable life insurance protection, you'll want to review the following tips that may help save you some money when buying a life insurance policy:
- Get Insured Now - The younger you are when you buy life insurance, the lower your cost, because rates are based in part on your age.
- Choose Term Life - Permanent life insurance usually costs up to 5-10 times more than term life insurance because term life is temporary coverage providing insurance for 10, 15, 20, 25, 30, 35, or 40 years; whereas, permanent life insurance provides lifetime protection.
- Compare Pricing - Rates vary by life insurance carrier, that's why you'll want to compare pricing from several life insurers, which may save you hundreds of dollars over the life of your policy.
- Quit Smoking - Smokers may pay up to 3-5 times more than non-smokers for the same amount and type of life insurance because they have a greater risk of dying at a younger age.
- Annual Premium Payments - Choose to pay your premiums annually, instead of monthly, because insurers charge a service fee for the processing of monthly premium payments.
