Affordable Life Insurance — 20 Tips For Saving Massively Part 1

By | July 23, 2018

You can get affordable life insurance if you have and apply the right tips. Many people are already enjoying very low rates and you, too, can. Simply read through this article and you’ll see how much you will save…

1. Generally, you’ll pay less if you can take advantage of a group policy. However, those who have a clean bill of health might be better served if they do thorough shopping. Because of the different profiles covered by a group policy, certain profiles gain much while some may actually lose. If insurers don’t make room for the variety of profiles they’ll NOT turn a profit.

2. Smokers have life insurance rates that are double or more that of persons who don’t smoke. It is a well known fact that smokers are vulnerable to various health conditions and that they also die young.

This raises their risk to an insurer and therefore raises their rates dramatically. It’s within your power to abstain from smoking and then apply again after 12 months if you want to see your life insurance premium reduced by fifty percent.

3. Even though a good number of individuals are aware that smoking adds to their life insurance rates, they may not know that the same is also true if they use other tobacco products. Chewing or snuffing tobacco, for example will cost you in higher life insurance premium. So for your wellbeing and less expensive rates, quit using any tobacco product.

4. If you need a discount, get your life insurance policy from the same insurer you bought existing policies from. Insurers give you a multi-policy discount to persuade you to buy more policies from them.

5. You’ll attract cheaper rates if you choose to pay your premiums yearly and not monthly. True, monthly payments might be less stressful but it is also costly. Every check that is processed attracts a charge. For 12 checks (that is, your monthly payments) you’ll have a total of twelve transactions. This means that you’ll pay transaction charges twelve times.

That is just part of it: Insurance companies also incur higher administrative costs for your monthly payments. A clear example of such is the expense associated with sending out payment notices. These and more are then included in your life insurance premium thus making it higher than if you paid yearly.

6. If you drive recklessly then expect to pay higher life insurance rates. Speeding tickets and other traffic offences can effectively add to your life insurance premium. Any person who drives recklessly might make a life insurance claim soon as they’re more likely to require medical attention.

Improving your driving history and developing a good driving culture will reduce your life insurance premium. Super-fast automobiles like fast muscle cars and power bikes will attract a higher life insurance rate. The simple reason remains that you raise the probability that claims will be made sooner.

7. While shopping for affordable life insurance it’s very important that you don’t get carried away by just the most affordable quote. You need to focus on getting a cheap rate that also gives you much value. ..If the cheapest quote offers everything that is important to you, then go for it. Nevertheless, if you need to pay slightly more for the correct coverage, then pay more.

Some very low quotes are so because the life insurance carrier has removed a few features. In those instances, the cheapest is not the best but the best for you is always the cheapest eventually.

8. You can lower your rates by not drinking alcoholic beverages. Drinkers spend more on life insurance. Many diseases can be traced to drinking.

How much drinking is safe for you? I can’t really say as there are people who can drink a bottle and still be okay while some will drink just half a glass and then go berserk.

What I do know is that avoiding drinking totally is very safe. So you can reduce your life insurance rates (Apart from reducing the probability of developing certain health conditions) by staying away from alcohol if you can or drinking in real moderation if you can’t.

The only problem is that those who say they cannot help drinking most often can’t drink in moderation. There are organizations that are out to help alcoholics quit drinking. Simply search for them.

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9. You will reduce your life insurance rates by a huge margin if you spend time on shopping right. You’ll start your shopping right if you make inquires from friends about their experiences with different life insurance carriers.

Doing this helps you avoid going to just the company with the biggest hype but to the insurer that offers the best price/value. A friend will be the first to warn you if they got less than the best from any insurance company. The likelihood that you’ll settle for the wrong carrier reduces if you get testimonials from people you can trust.

10. You’ll save much if you obtain and compare many life insurance quotes. I recommend that you visit not less than five quotes sites as that will make it less likely that you’ll miss out offers not presented by the other sites. This gives you a broader basis for doing more thorough comparisons thereby increasing your chances of getting more for less.

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