How can I make my Life Insurance Policy Cheaper?

There are several ways you may be able to make your life insurance policy cost less than you are currently paying.

First, it's good to understand that life insurance is based on your life expectancy, and the longer your life expectancy, the lower your cost.

So, if you smoke, quit smoking and this will lower your rate for life insurance. You can request a re-rate once you have been smoke-free for the required period of time by your life insurer - it may be 6 months to a year or two.

Also, if you were overweight, and lost some weight, so you are now classified in a lower weight category for life insurance rating, you may want to ask for re-rate consideration by the insurer.

Other ways to lower your cost of life insurance may include:

1. Switch from permanent life insurance to term life insurance.
2. Choose to a shorter term for term life insurance coverage.
3. Lower the amount of life insurance protection you have.
4. Compare rates among several other life insurance companies and consider switching carriers.
5. Choose to pay premiums annually instead of monthly.

These are all options you may want to consider in order to lower the price of your life insurance.

But remember, you may want to speak with your life insurance agent before making any changes.

Also, never cancel an existing life insurance policy before you have another life insurance policy "In Force", so you aren;t left without any life insurance protection when you need it.

Sine term life insurance costs a lot less than permanent life insurance, you may want to learn more about how term life insurance works and compare plans.