This is an option you may have available, however; switching life insurance plans may open you up to the possibility of being without life insurance coverage.
First, before you switch companies you should always make sure you have another life insurance policy "In Force", so you are not without life insurance coverage even for one day.
Next, before switching companies make sure you have asked your agent and carrier if there are any options for you to reduce your cost of the life insurance policy, such as, requesting a re-rate of your life insurance based on your improved health, lower weight, quit smoking, or having other lines of insurance coverage with the same insurer.
Some tips for lowering your life insurance rate may include: Comparing rates of other insurers, choosing a lower amount of life insurance, choosing a life insurance policy for a shorter period of time, paying premiums annually (once per year) instead of monthly, choosing term life insurance instead of permanent life insurance, improving your health, quit smoking, lower your weight if you are overweight, improve your driving record, improve your credit score
If you do decide to switch companies, make cure you compare highly-rated insurers, and review their rates and how long the rate is guaranteed to remain the same, as well as, how long your life insurance coverage stays "In Force".
You don't want to cancel a 20 year term life plan to go with a new 10 year term life policy because the rate is lower, unless you only need life insurance for another 10 years.
You may want to review your options for a new company with your life insurance agent before making any changes.
The important thing is to make sure you always have life insurance when you need it, and not to go even one day without coverage if you are switching carriers.
Here's how you can review a list of top 10 life insurance companies and compare rates for life insurance online to give you an idea of which leading life insurance companies may offer competitive rates for you.
First, before you switch companies you should always make sure you have another life insurance policy "In Force", so you are not without life insurance coverage even for one day.
Next, before switching companies make sure you have asked your agent and carrier if there are any options for you to reduce your cost of the life insurance policy, such as, requesting a re-rate of your life insurance based on your improved health, lower weight, quit smoking, or having other lines of insurance coverage with the same insurer.
Some tips for lowering your life insurance rate may include: Comparing rates of other insurers, choosing a lower amount of life insurance, choosing a life insurance policy for a shorter period of time, paying premiums annually (once per year) instead of monthly, choosing term life insurance instead of permanent life insurance, improving your health, quit smoking, lower your weight if you are overweight, improve your driving record, improve your credit score
If you do decide to switch companies, make cure you compare highly-rated insurers, and review their rates and how long the rate is guaranteed to remain the same, as well as, how long your life insurance coverage stays "In Force".
You don't want to cancel a 20 year term life plan to go with a new 10 year term life policy because the rate is lower, unless you only need life insurance for another 10 years.
You may want to review your options for a new company with your life insurance agent before making any changes.
The important thing is to make sure you always have life insurance when you need it, and not to go even one day without coverage if you are switching carriers.
Here's how you can review a list of top 10 life insurance companies and compare rates for life insurance online to give you an idea of which leading life insurance companies may offer competitive rates for you.
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