How to get the best value in term life insurance policy? Just follow these 3 important tips.
1. Don’t wait! Get your policy as soon as possible
Rates go up with age. The longer you wait, the more expensive it gets. If you realize it is a necessity in your life, then your best bet is to get it when you can get it at the cheapest price possible.
2. Exercise and clean up your diet
When getting a term life insurance policy, how much you pay is determined on how healthy you are.
If you’re overweight, or have minor health issues, it doesn’t take that long on a good program to turn yourself around.
If your weight is proportionate to your height, and you have no major health issues you will get the least expensive rate.
Obviously, there are other positive benefits to staying healthy than getting affordable life insurance. The main one I can think of is to make sure you outlive your insurance!
3. Stop Smoking, Really!
Not too long ago, we had a client that was applying for a term life policy. He had indicated that he doesn’t smoke or use tobacco, but sure enough a week before he was to have his physical done, he was at a wedding and decided to indulge in a nice, fat cigar.
Even a small quantity of tobacco in your system is going to show up if it got in there seven days before the exam. Sure enough, the tobacco showed up on the test, and the premium he was going to have to pay went up – a lot.
Life insurance for smokers or tobacco users is expensive. So keep in mind that, even if you are are a regular smoker, if you quit for 1-3 years (it takes that long for residue to get out of your system), you will be able to get the cheapest term life policy, available.
You can use the quote engine on the Quality Term Life site to compare policies from over a hundred different companies. Try out different amounts and years of coverage. Watch how the rates change if you select Tobacco!
4. Shop around!
You wouldn’t buy a TV from a door-to-door salesman and you shouldn’t by life insurance from one either. No, as savvy consumers, whenever we’re about to make a major purchase, we double check for better prices elsewhere.
Life insurance shouldn’t be any different than shopping for a car, cellphone, or TV. There are lots of insurers competing to sell policies to all types of different individuals, across the spectrum of weight, ages, health status and insurance amount.
As an independent insurance agency we make the current competition in the life insurance industry work for you. So, we offer products from dozens of different life insurers.
That’s it! 1, 2, 3 to huge saving on term life insurance.