Texas Insurance Agency Articles
Ways to save money on life insurance
It is important to have it, but most people put off buying life insurance.
Not only is it a depressing topic, but high life insurance rates can be hard to fit into your budget. However, it’s a good idea to get life insurance while you are younger and healthy. Life insurance rates rise as you get older, so getting it well before you think you need it is one of the best ways to get cheap life insurance.
At the same time that you start shopping for low cost life insurance rates, make a commitment to a healthy lifestyle. People who smoke or have pre-existing conditions, high cholesterol or high blood pressure often put off getting life insurance because they know they won’t be able to get cheap life insurance rates.
However, showing your insurer that you are maintaining a healthy lifestyle will make your rates go down eventually, even if they start high. Be sure to ask to have your policy re-evaluated as your health improves.
Some other tips to save on life insurance:
- Figure out how much life insurance you need by determining what your family’s expenses are. Take into account educational costs for children and other savings that will be available to them if you are gone. Don’t buy more than what you need.
- Save money on life insurance by paying annually instead of paying additional fees for monthly billing.
- Shop around for low cost life insurance rates. Online searches make it easier and faster to compare rates. When it’s time to make a decision, get in touch with an insurance agency. Texas agencies can help find the best policy for your needs.
- Compare the costs of term versus permanent insurance. Permanent insurance is considered an investment, while term plans only cover a specific period of years. Permanent insurance offers benefits like the ability to borrow from your policy, but you can save thousands in premiums with a term life policy. Look for longer terms since your premium will go up each time you renew.
- See if your employer offers life insurance benefits and find out what the options are.
- Look for policies that don’t have a lot of extra fees built into them, like agent commissions. These are called low-load or no-load policies and may be difficult to find at a conventional insurance agency.
- If you are healthy, don’t pay for guaranteed life insurance policies. With most guaranteed policies, you don’t have to take a medical exam. These may be a good option – often the only option – for people with health problems. However, the cost in premiums can be substantially higher. If you are healthy, take the time for a full medical exam to get the best rates.
With a little legwork and planning, you can save money of life insurance and have the security of knowing your family is protected. Talk to an insurance agency in Texas to learn about other ways to save.
A knowledgeable Texas life insurance agent can provide all you need to know about life insurance