Want to know the number one complaint that people come to me with? I’m sure you can guess… My life insurance premium is too high! Does this sound like you too? If it is, there is light at the end of the tunnel!!
Here are five simple tips that can help you easily lower your life insurance premium!
- Shop around and bargain! — I get it. A charming life insurance agent says all the things you want to hear… but be careful and don’t sign up for the first plan to come your way! Do your research (Google is your friend!), talk to others who have walked the same path before, and get a feel for what’s out there. Time spent now will be well worth it later when you can bargain hard and get the best coverage for the best price.
- Opt for Term Life Insurance — A Term Life Insurance policy is cheaper than a whole-life policy, so you can get yourself insured under a term life policy at the fraction of the cost of a whole-life scheme with typically the same coverage amount. But keep in mind, Term Life Insurance covers you only for a pre-defined period of time, so this will only be a temporary solution to price.
- Keep yourself fit — Maintaining a healthy lifestyle and keeping yourself away from addictions such as smoking, drugs, and alcohol will make you a low-risk proposition for your insurance provider, which will result in considerable reduction in your life insurance premiums. The six-pack will just be an added bonus 🙂
- Consult an insurance advisor — Since an advisor will be pro in the insurance marketplace, they will compare different market rates for you, negotiate the best rates on your behalf, and get you the most affordable deal in line with your coverage requirements. Talk to us today at 617-800-0899. (Don’t mind the shameless plug!)
- Start at a young age! — It is never too early to start! Life insurance premium at a young age is only a fraction of what it could be when you are well into middle age. Since young and healthy people are in the lowest risk segment with a low mortality risk, it is a great incentive for insurance companies to insure you at lower premiums.
Seems pretty easy right?
You can start taking action today but make sure to proceed with caution and act wisely. Only you and your advisor will know which options will make the most sense for you. Is your life insurance premium too high? Reply back or schedule a call with me so we can talk through it. You deserve to have the best coverage that doesn’t break the bank!
There are a few things you can do to reduce your life insurance premiums. The most obvious is to shop around and compare rates from different insurers. You may also be able to get a discount if you buy a policy that covers more than one person. And finally, you can save money by choosing a higher deductible.
Whatever your situation, it’s important to review your life insurance policy regularly and make sure you’re getting the best deal possible. Contact us today for more information about reducing your life insurance premiums. We would be happy to help!
To a happier wallet,