Find Low Cost Life Insurance

 

You’re in the market to purchase low cost instant life insurance but also you are thinking about where to start . Getting a life policy is one purchase vital to the financial health of your family . The main factor that deters people to buy life insurance is cost .

use the 5 Strategies below to get Low Cost Life Insurance

1. Have an idea of how much term coverage you need

Families don’t think about how much life coverage they need .

Add up the following:

Mortgage Payments / lodging
Monthly Living Expenses (Food/Clothing) Expenses for Education (College)
Expenses for Childcare (depending on age of kids)

Take those expenses and calculate the costs for 20-30 years (your kids should be working after that time period)

2. Term Coverage Over Whole Life

This reemphasizes Tip #1 . Do you need life insurance forever? DEFINITELY NOT . It protects the income from the breadwinner if something ever happens to him/her. Your dependents, who may include your spouse, children or parents depend on your income . When they enter the workforce after college they no longer require your income .

Looking at Whole Life Ins, it is quite a bit more expensive . Make sure you do not combine investments with life ins either . Keep investments and insurance separate !

Buy Term Coverage. You will cut your premiums by 70% just by doing that !!!!

3. Get Term Coverage within Ranges

Did you know that there are tiers for life ins? The rate of coverage will go down on higher tiers. You just need to know where they are. For example, for Term Ins, $100,000 to $249,999 you would be paying $1.02 per $1000 of coverage while for $250,000 to under $500,000 you would be paying 92 cents for every $1000 of coverage. Almost a 10% in savings for knowing this !!

4. Don’t Buy “No Test Life Insurance”

There is an option to purchase life insurance without a medical exam. This type of instant life insurance sounds great but for the convenience the premiums are much, much higher .

In regards to the medical exam you set the time and location for the physical exam and it only takes 10-15 minutes of your time .

5. Compare Term Life Insurance Quotes

Absolutely a must. At a comparison shopping site you force each insurer to present you cheap life insurance rates.

A Life Insurance Company must compete for your business at a comparison shopping site. It is the only time you will get the best life ins rates.

At BaseQuotes you have the chance to compare several Low Cost Instant Life Insurance Quotes from well known US insurers. Being former insurance agents ourselves the only way to savings is to force them to compete .

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