Tips on Buying Term Life Insurance

Life insurance can be more expensive than necessary. The right term life insurance policy can save you money on your premiums. And, provide your family with the protection they need, when they need it most.

The following money-saving tips can help make your term life insurance more affordable:

• Take care of your health - The healthier you are, the less expensive your term life insurance will be. So, if you stay healthy, it could mean lower premiums. Making healthy choices can keep more money in your pocket. For example, smokers sometimes pay up to three times as much as non-smokers for life insurance.
  
• Buy a Higher Limit – For example, If you need $270,000 of coverage, get a quote at the $300,000 limit, too. You may find it doesn’t cost that much more.
  
• Compare Quotes for Different Terms – If you need coverage for 15 years, get a quote comparing premiums for 15 year level term and 20 year level term life insurance. You may find the rates aren’t that much more. And, you have coverage for an additional 5 years just in case your life insurance needs change.
  
• Pay on an Annual Basis – Compare quotes for term life insurance paying monthly versus quarterly, semi-annually and annually. If you can afford it, you may save some money paying your premiums on an annual basis.
  
• Don’t Delay – Find a Policy Now - As you get older, life insurance companies raise premiums. So, the sooner you find the right term life insurance plan, the cheaper your premiums will be. And make sure to look into term life insurance offering you a "level premium," - meaning your premium won't go up with age.
  
• Compare Multiple Quotes - It’s quick and easy to request free quotes online from multiple insurance companies. Premiums can vary by up to 50% between insurers. So, it pays to shop and compare quotes and plans. Make sure you are comparing the same type of policies – Level term is the most popular type of term life insurance.

Next Tutorial - Shop and compare term life insurance quotes

Life Insurance Quotes

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Tutorial - Tips On Buying Term Life Insurance