Life insurance is intended to provided financial security for your family, but many of us are on a budget and need to make the most of the money we have.
How can you stretch your budget to get the most life insurance for your money?
You could buy life insurance now instead of waiting. Premiums for the same amount of life insurance coverage generally increase the older you become.
And, the longer you wait, the more you risk developing a health condition that could increase your premium further, or make you uninsurable.
If you want permanent life insurance but you're on a budget, consider some term life insurance for now.
You can save money initially by buying some term insurance in combination with permanent life. Then later on, if your budget increases, consider converting your term insurance policy into permanent life insurance coverage.
You could consider group life insurance offered through your employer. It may be available at a relatively low cost compared to your own individual life insurance policy.
But, keep in mind, your group life insurance coverage may end or become more expensive when you leave your job, or as you get older.
Here's how you can compare affordable life insurance quotes from several of the best life insurance companies.