How to Get the Best Life Insurance Premiums
Life insurance rates vary depending on one's health history. According to recent insuranceQuotes.com research, smokers normally pay more than 3 times for the same policy than non-smokers. Your overall health, age, occupation, and hobbies are also considered and can increase premiums. But this does not necessarily mean you must pay increased premiums or completely avoid insurance.
The following are 4 recommendations for getting the best life insurance premiums.
Compare different policies
Take some time to compare different policies. Some insurance carriers charge smokers higher premiums than other carriers. You can use online aggregators to compare rates and plans, or let an agent shop around on your behalf. Every insurance carrier has their own method of determining rates, so try to get at least three quotes including rates from a leading carrier that provides coverage countrywide. Look up the best term life insurance rates online to know more.
Healthy people generally get lower life insurance premiums. Kicking your smoking habit is your best chance to get a lower rate, even though different companies have different policies when it comes determining how long one must be smoke-free to be deemed a non-smoker.
If you're denied or are paying higher life insurance rates than you anticipated, you can use this opportunity to improve your health. Once you do that, you may then get back to your provider and show them how your health has improved. If you have life insurance and stop smoking, you should inform your insurer and ask for a lower rate.
Join a group life insurance coverage
Many corporate benefit schemes provide life coverage without requiring you to undergo any physical or medical tests. While they normally limit how much you can withdraw, it's a great way to get insurance if you're unhealthy and can't afford the premiums. In many cases, you can often access group life insurance if you join an association or organization.
Review your insurance policy annually
You need to review your coverage every year or whenever you have a life-changing event like a wedding, divorce, or child. Also ensure that your terms on beneficiaries are up-to-date and weigh your options, especially when it comes to term life insurance, so you get the least possible rate. In addition, you can change your mode of paying premiums and save some money.
When searching for insurance, use your common sense and be honest with your agent at all times. Do some research on different kinds of life insurance coverage and compare each with your agent. If you're unsure, feel free to ask questions. As you get older, it can be more difficult to qualify for life insurance, so it is recommended that you look for one when you are young. And always make sure your chosen policy is affordable. For easier options, also check out term life insurance quotes no medical exam using your preferred online search engine.
Visit http://www.ehow.com/about_4596432_advantages-disadvantages-life-insurance.html for more on the advantages of life insurance.