The Ways To Lower Your Life Insurance Costs
August 28, 2008 – 2:42 pmIf you're new here, you may want to learn what this site is about. Please subscribe to my RSS feed to get latest updates on this blog. Thanks for visiting!
Follow these suggestions to help save money on your life insurance premiums:
1. Get healthier. Quitting smoking can cut your life premium in half; losing excess weight can save almost as much.
2. Call a price comparison-shopping service or use one on-line. Several companies exist that will report the lowest rate available to you from a variety of different insurers. Price quotes are free; you can usually buy the policy you want directly from the company offering the price quote. Three such firms: Quotesmith (800-556-9393); it scans more than 150 insurers; SelectQuote (800-343-1985; 16 insurers; and TermQuote (800-444-8376; 75 insurers. On-line services can also help you buy life insurance wisely, by advising you on how much coverage you need, the most appropriate type of policy, and the least expensive one. To get a second opinion on the right coverage, try QuickQuote Insurance Agency’s Term Life Estimator (www.quickquote.com). If you want tips on chossing the right type of policy and finding the least expensive choices for term insurance, check out InstantQuote (www.instantquote.com), QuickQuote, and Quotesmith (www.quotesmith.com).
3. Make sure to get some quotes from low-load insurance companies. Ten low-load insurers such as Ameritas and USAA, both of whom sell be telephone, charge sales fees that amount to just 10% to 20% of your first-year premium and perhaps 2% of subsequent premiums. If you work with a fee-only financial planner, that pro can locate low-load policies for you, too. If you don’t know how much insurance you want, a planner or an insurance consultant can help you figure out the right amount. You’ll pay a flat fee of perhaps $200 to $500 or a rate of something like $100 to $150 an hour.
I wanna thank One Cave Man for sponsoring Carnival of Personal Finance and including this post in his list. If you do now know yet, Carnival of Personal Finance list a lot of nice personal finance articles around the net in a weekly basis. I’m a fun of such and I make it a habit to read it to enrich my knowledge.
If you like this post, please subscribe to my RSS feed to get latest updates on this blog. Thanks for visiting!
| 3.5 |
1 Trackback(s)