It will be a great joy for you to get low cost life insurance. That is, a policy that offers the right coverage at the best price possible. Aren’t there things that are keeping you from enjoying more affordable rates? We’ll address a number of such and you should lower your costs after reading through.
Why do some people pay a lot while others get to pay far less?
Some people enjoy low cost life insurance while others don’t for a good number of reasons…
1) The type of life insurance policy they’ve chosen: To make this clear I’ll assume that you’ve chosen a no-medical exam life insurance policy. If this is you, then you cannot expect to pay anything as low as someone who chose a policy that will demand a medical exam.
2) The extent of coverage: Even if you chose, say, a term life insurance policy you’ll pay different rates if you both chose different death benefits. The higher your death benefits the higher your premiums.
Low cost life insurance may be difficult for you for some other reasons like your profile and how well you do comparison shopping.
3) Factors in your profile will eventually determine how risky it is to insure you. The more risky it is for an insurer to insure you, the more difficult it will be for you to get cheaper rates. Here are some factors that will make it difficult for anyone…
a) If you participate in high risk sports like skydiving or car racing.
b) If your line of work exposes you to great hazards.
c) If you are a smoker.
d) If you are overweight.
e) If you get it when you are older. The younger you are when you buy a life insurance policy the easier it will be for you to get lower rates.
What if I am not really able to change these factors, is there any way I can still lower my life insurance costs? That is where good comparison shopping comes in.
Although every insurer uses similar factors to determine an insured’s risk level, the do not give these factors uniform weightings. The end result: A huge disparity in life insurance rates from different insurers. Many people do not take advantage of this as they do not take out some time to get quotes from different insurers. That makes it more difficult for them to get low cost life insurance, too.
You can get low cost life insurance, saving some hundreds or even over a thousand dollars in the process, by comparison shopping. This can be easily done online by receiving and comparing life insurance quotes from about three insurance quotes sites. All you do thereafter is simply pick the best price/value low cost insurance quote from the lot returned.
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