As you are aware, life insurance is not a policy you should forgo. Without it, you are not guaranteeing your loved ones or family members the financial security if you should pass unexpectedly. Since there is really no way around this policy, our Texas insurance agency believes it is important to let our clients know how they can save on their premium. It is much easier than you may think!
Here are 10 ways to save on your life insurance premium:
1. Choose term life. It is a fact that term life insurance is cheaper than whole life. Those who are young and unmarried may often opt for term life, but even those married should look into it!
2. Purchase life insurance while young. For the most part, those who are young are in much better health than those in their later years. Since health is a factor when determining your premium, it is much better to purchase now rather than later.
3. Hit the gym. Are you in the best possible shape? Exercising for at least a half hour a day will keep your health in tip-top shape and your risks low.
4. Eat healthier. Eating healthy goes hand-in-hand with exercising and staying active.
5. Bundle your policies. By combining auto, home, and life, you will be able to save on all three premiums.
6. Quit smoking. If you are a smoker, your premium is always going to be higher than others. It is never too late to put out the cigarette and lower your premium!
7. Choose to pay annually. Are you getting charged a monthly billing fee? Cut these costs by paying your entire bill once a year.
8. Purchase only what you NEED. Yes, TOO MUCH coverage is possible! Have an expert analyze your situation to avoid choosing too much coverage.
9. Check your credit. Many times, credit score will be a factor when determining a premium. Keep your credit score high for the best possible deal!
10. Reassess your health each year. Have you been eating healthier and exercising? Have you quit smoking? Have your health reassessed and your premium may be lowered!
As you can see, saving on your life insurance premium is NOT impossible! Those who take care of their health and self are sure to benefit from a lower premium. If you are concerned about your premium, feel free to speak with our Texas insurance agency. We would be happy to find ways to help you lower it!