Like any purchase, none of us wants to pay more than we have to, and with life insurance there are several things to consider that may save you some money.
There are several things that would increase the cost of a life insurance policy, including:
Gender – Men pay more for life insurance than women because they have a shorter life expectancy.
Age – The older you are when you buy a policy, the higher your rate.
Health – If you have less than excellent health, your rate will be higher.
Lifestyle – If you drink excessively and/or take illegal drugs, your rate will be higher, and you may have difficulty getting approved.
Driving Record – If you have several points on your driving record, have speeding tickets, or have DUI’s, you will pay more.
Weight – If you are overweight or obese, you will have a higher rate compared to someone with an average Body Mass Index.
Tobacco Use – If you use tobacco, chew tobacco or smoke tobacco, your rate for life insurance may be up to 2-3 times higher compared to the rate charged for a non-smoker.
Occupation and Hobbies – If you have a high-risk job, or take part in high-risk activities, you will be charged a higher rate per $1,000 of life insurance.
These are just a few of the reasons you may pay more for your life insurance coverage.
The quickest and easiest way to lower your cost is to compare free, instant term life insurance price quotes online from a network of multiple, highly-rated life insurance carriers.
Compare Life Insurance Quotes.