Can a person get the right life insurance coverage without breaking the bank? The answer is “Yes" if you know the things you have to do. Here are some. . .
1. Your surrender charges affect what you eventually get as your rates. Raise your surrender charges and you'll pay lower rates. For those who don't know what this means surrender charges refer to what you pay if you cash in your policy.
2. Smoking will cost you expensive life insurance rates. It's a well known truth that smokers are susceptible to many health conditions and that they don't live long.
If smoking leads to specific health conditions, then it makes a person a high life insurance risk and that calls for higher rates. Once you stop smoking for about twelve months tell your present insurer or reapply to another insurer and you'll experience a considerable slash in your life insurance rates.
3. Take it upon yourself to ask your agent about all the discounts possible with your present insurance provider. Since agents too are human they might forget to tell you about some discounts you are eligible for. The only way to ensure this is not true in your case is by asking your agent to list out every discount that your preferred insurance carrier gives. Do not be shocked if you hear of discover that you've not heard of.
4. If you choose to pay your premiums monthly, you'll attract more expensive life insurance rates. Although this option is always less stressful, it costs more for some reasons. .
Every check that is processed attracts a fee. For 12 checks (that is, your monthly premiums) you'll have a total of 12 transactions. This implies that transaction charges would be twelve times more for people who make monthly payments.
Apart from this there are also administrative costs that are incurred due to the monthly payment option. For instance, it costs some money to send payment notices each and every month. The additional administrative cost to your insurer is eventually borne by you (that's apart from their own markup for giving you such a “stressless" alternative).
5. Get and compare many quotes from reputable quotes sites. I personally recommend that you use not less than five sites for better results. There are over 2,000 insurance carriers in the US and you simply can't just get your quotes from one site and think you've done a good job. Most sites return less than twelve quotes.
This exercise could easily save you over a thousand dollars. And, all it takes is just five minutes per site.
Here are great pages for life insurance quotes. . .
InsureMe Life Insurance Quotes
Life Insurance Quotes
Chimezirim Odimba writes on insurance.