Cheap Life Insurance

Cheap Life Insurance Definition

Source(Google.com.pk)
Making sure that your loved ones are taken care of when you're gone is a priority for most people. To fulfill this need, most buy some kind of life insurance. If you have been shopping around for life insurance, and you do not like the idea of having to pay so much money to get a policy, there are ways that you can get coverage for less money. When it comes to finding cheap life insurance, there are a few tips to keep in mind. Here are the basics of buying cheap life insurance coverage.

Get Multiple Quotes

When you are in the market for life insurance, it works to your advantage to get multiple quotes from different insurance companies. Every life insurance company has its own rates, and not all of them are close to the same. You might pay much more with one company than you would with another, for instance Banner Life Insurance offers people diabetes more competitive rates, and they are substantially less than some competing companies. If you only look at one quote, you don't really know if you are looking at the expense of company or the cheap one. People tend to go to the brand name insurance companies they know best, like MetLife, but after reviewing MetLife insurance rates for a 50 year male this is what I found:

FOR A 50 YEAR OLD MALE NON-SMOKER RESIDENT OF PA, METLIFE WOULD BE $994.00/YEAR FOR $500k 20 YEAR TERM POLICY.

THAT SAME MALE COULD GET $500k 20 YEAR TERM LIFE INSURANCE FROM NORTH AMERICAN LIFE INSURANCE COMPANY FOR $930.00/YR

These companies both have an A.M. Best Rating of A+, but by going with North American you can save a total of $1,280.00 on the life of the policy,

By getting multiple quotes, you can find out exactly who is offering the best rates for your situation. Find out which company will be the most affordable for any medical conditions you are treated for, and what companies to avoid if you are classified as high risk on the application.

Term Life Insurance

The type of insurance that you shop for can also have a big impact on how much you pay for coverage. If you are looking at cash value life insurance like whole or universal, you will be paying a lot more for premiums. If you want to save money, consider getting a term life insurance policy. With a term life insurance policy, you are only paying for the death benefit, and not paying for any investment component. You can carry a million dollar life policy for a quarter of the cost through a term policy vs a permanent policy. With whole life insurance, universal life insurance and other similar policies, you are paying for a death benefit, and you are paying for someone else to invest your money for you. If you don't want to combine investing and life insurance together in one package, then simply get a term life insurance policy. It will give you the death benefit that you want, without having to worry about the higher cost. Term life insurance rates are always cheaper than whole life insurance rates. When you're shopping on price, keep this in mind so that you can maximize your death benefit for the money that you have.

Avoid Riders

In many cases, life insurance companies will try to sell your life insurance policy that has additional riders attached to it. A rider is a type of extra coverage that you can buy on top of your regular policy. While the extra coverage may sound tempting, you are actually going to be paying a lot more than what you need to pay for a basic policy.

For example, some life insurance companies will ask you to buy a waiver of premium rider. This rider allows you to stop paying your premiums if you become disabled at some point in the future.

Another rider that the insurance company may try to get you to buy is an accidental death and dismemberment rider. With this rider, your beneficiaries can receive twice the regular benefit if you die from an accident. You can also get the face value of your policy pay to you while you are still alive if you become dismembered. While this sounds intriguing, the odds of dying from an accident are very low. If you are trying to save as much money as possible, then you don't need to buy this extra coverage.

Riders can sound tempting, and some of them actually provide decent benefits. However, if you are trying to save as much money as possible, then you need to stay away from these riders. Just stick to the basics with your life policy.

Watch the Expenses

When you are trying to get the best deal on life insurance, look for policies that don't have a lot of expenses built into them. These "no load" or "low load" life insurance policies do not nickel and dime you along the way. Some life insurance policies have a lot of extra costs built into them, such as insurance agent commissions, and other expenses. Find out exactly what your insurance company is trying to charge you before you agree to any of the terms of the policy.

Improve Your Health

The premiums that you pay for health insurance are based on how healthy you are. If you are interested in saving money on life insurance, try to get as healthy as you can before you buy a policy. Lose some weight, get your blood pressure under control, and get in as good of shape as you can before you buy. This can make a significant difference overall.


If you are interested in finding out what life insurance costs in your area, simply fill in the form on this page to get an up-to-the-minute quote.
                                  Cheap Life Insurance

Cheap Life Insurance

Cheap Life Insurance

Cheap Life Insurance

Cheap Life Insurance

Cheap Life Insurance

Cheap Life Insurance

Cheap Life Insurance

Cheap Life Insurance

Cheap Life Insurance

Cheap Life Insurance