5 Tips for Low Cost Life Insurance
Low Cost Instant Life Insurance isn’t hard to find if you know where to look. Getting a life policy is one purchase vital to the financial health of your family. The main factor that deters people to buy life insurance is cost.
employ the 5 Strategies below to get Low Cost Life Insurance
1. Be sure to have a good idea of how much life ins you need
Families don’t think about how much life coverage they need.
Add up the following:
House Payment / Monthly Rent
Each Month’s Living Expenses Educational Expenses for the kids (college)
Childcare Expenses for a certain number of years
Now span these monthly expenses out for a 20 year term or 30 year term (after that period of time your kids will be working and no longer dependent on your income)
2. Inexpensive Term Life Insurance
Reemphasizing Strategy #1. Life Coverage is supposed to be forever? NO WAY. It protects the income from the breadwinner if something ever happens to him/her. Your kids / dependents need your income to survive and the life insurance protects it. When they finish college and enter the workforce they can create their own income and there is no longer a need for life ins.
Besides, Whole life Ins is astronomically more expensive. Never put an investment with life insurance either. Always separate insurance and investments!
Only get Term Life Coverage. It will already cut your premium by 70%!!!!
3. Buy in Tier Amounts
Did you know that there are tiers for life ins? The rate of coverage will go down on higher tiers. You just need to know where they are. As an example, the first tier ranges from $100K-$249K and the rate per $1000 of coverage is!!
4. Skip the No Physical Exam Life Insurance
Some Life Insurance Companies have the option for consumers to buy life insurance without getting an exam. This type of instant life insurance sounds great but for the convenience the premiums are much, much higher.
The Medical exam takes only 10-15 minutes and you can set the time of your appointment and place as well.
5. Compare Term Life Insurance Quotes
Absolutely a must. When you comparison shop you make insurers present you their lowest term life insurance rates.
Insurers have no idea who others will be quoting you forcing them to be as competitive as possible in their price. It is the only time you will get the best life ins rates.
At BaseQuotes we are the one stop, Low Cost Life Insurance Quotes Comparison site. Being former insurance agents ourselves the only way to savings is to force them to compete.
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