7 Best Ways to Save Money on Your Life Insurance

Are you in the market for life insurance? Want to know how to save money on your policy? Here are the 7 best ways to save money on your life insurance policy.

1. Shop For Rate Quotes

The best way to get the best deal on anything is to comparison shop, and that's especially true for life insurance. Premiums can vary by hundreds of dollars from one company to the next, so it pays to invest a little time comparing rates from different companies. The quickest way to compare rates is to visit an insurance comparison website where you can get multiple rate quotes all on one site. (see link below).

2. Get a Term Life Policy

Term life insurance is the way to go if you want the most coverage for the least amount of money. With term life you're paying for insurance only, not an added investment vehicle as you are with whole life or universal life.

3. Get Healthy

If you're a smoker, quit. If you're overweight, get started on a diet. Life insurance rates are based on your age and your health. The healthier you are the lower your premium will be. Living a healthier lifestyle will not only lower your premium, it will make you feel better and will allow you live longer.

4. Get a No Load Policy

No load policies do not have added fees such as agent commissions or marketing fees, which can add hundreds of dollars to your policy. With a no load policy you only pay for the policy.

5. Buy Only What You Need

Most people buy too much or too little life insurance because they haven't taken the time to figure out what they really need. Take the time to evaluate how much life insurance your beneficiaries will need now, and how much they'll need in the future.

6. Clean Up Your Credit

Insurance companies reason that if you have bad credit you're more likely to let your policy lapse and are therefore a higher risk to them. If you have bad credit you'll pay more for your policy and may even be denied a policy. Get your free credit report from Experioan or Equifax, and if you have bad credit, start repairing it. You'll not only save money on your policy, you'll also save your credit rating.

7. Get Your Policy Now

Life insurance is based on two primary factors - your age and your health. The younger you are and the healthier you are, the less you'll pay for your policy. By purchasing a policy now, instead of waiting until you're older and have health problems, you'll get a much better rate on your policy.

Visit http://www.LowerRateQuotes.com/life-insurance.html or click on the following link to get life insurance rate quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.



The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on life insurance.