6-Tips to Owning an Affordable Life Insurance Policy
Reader’s Question:
I’ve had a life insurance policy for a year now but I’m thinking of switching to another carrier. How do I find good rates and life insurers?
Hector
Rio Rancho, NM
Life insurance is a very important asset (especially in uncertain times like these). Getting the right kind of policy, with the right insurer, is essential. In your case, it’s still not too late to look for a better insurer. Here are some tips to get you started:
1. Independent Rating Agencies – Moodys, J.D. Powers, and A.M. Best are some of the best rating agencies that can tell you which life insurance companies in your area have the best track records when it comes to customer service, financial stability, claims handling, etc.
2. Shop for Rates Effectively – Use life insurance comparison portals which enable anyone to get a free quote check and compare insurers for the best rates quickly and easily. Aside from this, you can also get other information on life insurance that can help you become a better-informed buyer.
3. Don’t Skip the Med Test – Unless you have any serious diseases or a terminal illness, skipping the medical examination may prove costly to you. If you are young and healthy, let your insurer know about that in order to get access to cheaper rates.
4. Keep Yourself Healthy – Want to know how to keep your life insurance premiums from skyrocketing? Keep yourself healthy by exercise, proper diet, and healthy habits. The less chances of dying too soon, the better your rates become.
5. Quite Smoking – Even a fifth-grader knows that smoking is a very nasty habit. A habit that, decades later, can cause some very serious health conditions that makes the sufferer wish they’ve kicked the habits years ago. Save money on your life policy, on sin-taxes, and on future medical bills by quitting now.
6. Discounts – Ask for discount offers. Discounts are a great way to lower your life insurance premiums. Don’t expect your insurer to be proactive on offering you discounts.
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