Life insurance is not cheap. Just like gas is no longer cheap, credit card interest is not cheap, and a trip to Disneyland is not cheap. Life is expensive, which means we have to make better choices. Choices about what we actually need, and choices about how best to save money on what is essential.
Life insurance offers numerous benefits. It can help to provide financial support to your family, should something bad happen to you. It can also provide you with financial support if you are unable to work, or if you are involved in an accident.
There are many choices to be made when purchasing life insurance, just as there are many advantages to having the right life insurance policy. To help you make the right choice – and to help you save some money – here are a few tips to help you on your way.
Find Out What You Need To Know
Research is the key to saving money on pretty much everything. Find out as much as you can about what kind of life insurance is out there (you may be surprised by how many types there actually are), and what insurance providers like La Capitale are offering. Different providers will offer different options, and all are definitely not equal. Try to choose an insurer with an “A” rating or above (like GIO), and read up as much as you can on the insurer and the policy.
Compare What’s Out There
If you are a keen money-saver, then you will know the value of comparison shopping. Thankfully, this can all now be done in the one place. Using the internet, you can use comparison sites to see what’s available, and you can also get more information by going to the insurance provider’s website direct. Read up on all your options, and compare prices and policy suitability. Just remember that some comparison sites use different parameters to compare their products, so the price you see, may not be the price you get.
Use a Life Insurance Calculator
Online calculators have become increasingly popular recently. They allow users to work out exactly what options are available to them, and can help them make the choice that will best suit their situation. Using a life insurance calculator, you can play around with numbers and options, allowing you to make a much more informed decision.
Speak to an Insurance Expert
Again, being informed means knowing what you need. Knowing what you need, means only buying what you need. Speaking to a life insurance expert will mean you can find out all your options, and make the most suitable choice. It can also prevent you from being under-insured or over-insured.
Discover the Discounts
Research can also allow you to find the best discounts. If you were grocery shopping, this would probably be in the form of coupons. If you were going on a holiday, it may mean negotiating with your travel agent. When you are buying life insurance, it means doing some research. Check out online forums to see how other people have been saving money, or sign up for email notifications or newsletters. Go to insurers’ websites direct to see what they are offering. It could mean you save a bundle!
It is usually cheaper to run a business online than face-to-face. The same rule applies within the world of life insurance. Many providers offer special discounts for purchasing life insurance online. This could involve one or two months free in a year, or it could be a percentage discount on premiums.
Another way to save money on life insurance is to get healthy. Providers prefer to insure healthy people, as they seem like less of a risk. So, if you want to save money on your premiums, it could be time to take up regular exercise, stop smoking, or try to lower your blood pressure or cholesterol.
Do you have life insurance? What strategies did you use to buy it?