How You Can Save Thousands On Life Insurance

Saving $20 a Month

Really Ads Up!

In 30 years, you will have $15,945.32

In 20 years, you will have $7,935.83

 

*The Illustration above uses 5% interest

Saving on life insurance is essential, and there are several strategies you can consider to reduce costs. Here are some tips to help you save thousands on life insurance:

  1. Buy Early: Life insurance premiums are generally lower when you’re younger and healthier. Insurers consider younger individuals less likely to die, so taking out a policy at a younger age can save you money over time1.
  2. Maintain a Healthy Weight: Being at a healthy weight can positively impact your life insurance rates. Insurers often consider weight as a factor when determining premiums2.
  3. Get Your Health Under Control: If you have any health conditions, work on managing them. Improving your health can lead to better rates when applying for life insurance.
  4. Quit Smoking: Smokers typically pay higher premiums. If you quit smoking, you’ll not only improve your health but also save money on life insurance.
  5. Modify the Term Length and Amount: Adjust the term length and coverage amount to meet your specific needs. Longer terms and higher coverage amounts generally cost more, so find the right balance for your situation.
  6. Pay Annually Instead of Monthly: Some insurers offer discounts if you pay your premiums annually. Consider this option to save money in the long run.
  7. Separate Policies: Instead of bundling life insurance policies, consider separate policies for different needs. For example, you might have one policy for income replacement and another for mortgage protection. This approach can be cost-effective2.

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