How can I get a lower rate on my life insurance policy - what are some tips for saving money?
When it comes to buying a life insurance policy, first consider your life insurance needs, why you want the life insurance and what you want it to accomplish?
Then, consider how long you need life insurance, how much life insurance you need, do you need life insurance for your spouse, and what can you afford to pay?
Now, in order to get the lowest rate, you may want to consider the following tips:
1. Buy life insurance when you are young and health, since rates increase with your age.
2. Buy term life insurance if you have a need for 30 years or less, since term life costs a lot less than permanent life insurance.
3. Quit Smoking - If you smoke you will pay a much higher rate than non-smokers.
4. Lose Weight - if you are overweight your rate will be higher than for people of average height-to-weight ratios.
5. Occupation & Hobbies - People with high risk jobs or hobbies will pay a higher rate for life insurance, so lower your risk if possible.
6. Amount of Life Insurance - don;t buy more life insurance than you really need. You can use a life insurance needs calculator to help you determine how much life insurance is right for you.
7. Always compare life insurance rates among several highly-rated life insurance companies before choosing a plan, because rates can vary quite a bit between insurance companies.
Now that you've reviewed some helpful tips on lowering your life insurance rate, here's how you can compare life insurance quotes online from leading life insurance carriers.