Lack of information can make getting great rates on life insurance seem complicated. It doesn’t have to be. If purchasing life insurance is an important item on your to-do list, with some planning and research, it’s possible to get the lowest rates. With a little discipline, a phone, a computer, and an internet connection, you can find great rates on your life insurance policy.
The process can be fast, easy, and simple – and you can end up with insurance rates that are affordable on almost any budget. You can impact how low your life insurance rates will be.
If You Are A Smoker, Stop Smoking
One way to lower the cost of your insurance coverage is to stop smoking. People who smoke or use tobacco products are considered higher risk clients for insurance companies. To cover their elevated risk of illness or death, insurance companies charge smokers higher premiums. If you are serious about getting the best deal possible on your life insurance policy, quitting the smoking habit should be one of your top priorities. People who stop smoking not only get better insurance rates, their health tends to improve as well. They also enjoy a better quality of life.
Eat Right And Exercise Regularly
Many insurance companies require potential clients to undergo at least a basic physical examination. Plus, they take your overall health into consideration when they are calculating your insurance rates. People who eat a healthy, low-fat diet and do moderate exercise on a regular basis tend to lose excess weight and improve their glucose, cholesterol, and blood pressure levels. When taking a physical for your life insurance policy, if you are a healthy weight and your blood pressure, cholesterol, and blood sugar levels are not excessively high, your monthly insurance payments will be lower.
Be Honest About Health Conditions
Insurance companies normally conduct a complete review of your medical history before agreeing to give you a life insurance policy. They often do a criminal background check and consider your lifestyle in an effort to get a clear understanding of your level of risk. By disclosing all pertinent information when you are applying for the policy, it says a lot about your character and gives you an opportunity to provide an explanation as to what led to any illnesses and injuries you had. This improves your credibility and believability when you talk about lifestyle changes and can help you get lower premiums.
Schedule Early Morning Examinations
Several studies have shown that when physical exams are done early in the day, people’s cholesterol, blood sugar, and blood pressure levels tend to be lower. Plus, if people get adequate rest the night before and give themselves adequate time to get to the facility where the physical examination will be conducted, they will be relaxed and get better results on the examinations. Taking your physical in the afternoon after a stressful morning at work or a large lunch will not deliver results that accurately show your true health status and could result in higher life insurance rates.
Regularly Review The Rates
Once you have a life insurance policy, it’s in your best interest to continue to monitor the available rates. Many people simply purchase their policy, pay their premium and pay no attention afterward. Reviewing the rates on your insurance policy every 3 years or so is a good habit. This gives you an opportunity to update your policy and have it reflect positive changes in your lifestyle, health status, and personal situation. All of these things lower your risk of dying prematurely and can help to lower the cost of your policy and your monthly payments.
Talk To An Independent Insurance Agent
Seeking professional help from a trusted, experienced, independent agent is one of the best ways to ensure you get the best rates. Independent agents have access to information about rates and coverages from countless companies. They also have insight on special programs and deals that may be of benefit to you. While it is possible for you to scour the internet looking for the policies with the lowest rates, independent agents have access to exclusive databases not available to the general public. They are better equipped to find you the best life insurance rates possible.
Understand The Rate Setting Process
The rates for all types of insurance products are regulated by law. Specially trained insurance company actuaries use statistics to develop the insurance rates. It’s based on age, life expectancy, health, the hazard level of a person’s occupation, whether they participate in dangerous sports or have a high-risk lifestyle and several other factors. The Department of Insurance of each state reviews and regulates life insurance rates to protect the public. Once the rates are authorized and approved, insurance agents receive them and they can begin to share them with consumers through quotes.
Talk To Family And Friends
One of the first steps you should take when you are looking for affordable life insurance is to talk to your extended network of family and friends. They can be a valuable source of referrals to types of policies, insurance companies, and insurance agents. You can make a list of the important leads and information they share. With a few phone calls, you will be able to elicit some price quotes that will give you a number of options to consider. You will also have an idea of the most affordable policies available.
Check Out The Options Online
The next step in the process of securing the best life insurance rates is to do some research on the internet. One of the reasons the internet is such a valuable tool is that it allows people to search far and wide to get the information they need with the click of a mouse. You can have the search engine results pages bring you the lowest-priced life insurance policies for you to check out the benefits they offer. You will be able to get all the data you need about the policy and not just make a decision based on price. Sometimes the lowest priced policy isn’t the best one.
Finding The Best Life Insurance Policy
With a little organized research, it’s possible to find a life insurance policy that best meets your needs. You may have to make some lifestyle changes, draw on friends and family for help, do some checking online and contact an independent insurance agent. They can be your most valuable resource. They can provide you with excellent options and guide you through the search process. An independent insurance agent can give you access to the information you may not be able to find on your own. A well-experienced insurance agent is your best option. Contact one today if you want the best insurance coverage possible.