When it comes to term life there's s few pointers to follow in order to get a lowe premium on your term policy.
But, before shopping prices make sure you decide how much life insurance coverage you need so you aren't paying for more life insurance than you really need.
Next, decide how long you really need your term life coverage to last. Term life offers protection for a period of 10, 15, 20, 25 or 30 years. The longer the term, the higher your premium. So, make sure you choose the right term that meets your needs.
Now, for some tips to lower your term prices:
1. Compare multiple term life premiums from several insurers because rates vary by insurance company.
2. If you smoke, quit smoking because smokers pay as much as 2-3 times more for the same amount of life insurance as non-smokers.
3. Get in Shape - if you are overweight, have high cholesterol or other health issues, make sure you improve your diet, exercise and take your medication to help improve your overall health which may lower your cost of life insurance because you may qualify for a better health rating.
4. Buy Early - Buy your life insurance now instead of waiting because rates increase with your age, and the insurers base your rate ion your closest birthdate, so purchase your life insurance more than 6 months before your next birthday.
5. Annual Premium Payments - You may have a choice of paying your life insurance premiums by month or once per year. It may cost less to pay an annual premium instead of monthly, because some insurers charge an additional fee for monthly payments.
Learn more about how to get a low price on term life insurance.