There is no denying how crucial it is to buy the right life insurance policy. While life insurance is imperative, the cost of living has increased the cost of life insurance. There are, however, several ways to save on your premiums so that you can afford an adequate level of protection without paying an arm and a leg for it. If you are pricing the cost of insurance and trying to find cheap coverage, here are some valuable tips that will help you save money without sacrificing what you want and need to protect your family’s financial future.
Get a Medical Exam Before You Apply
If you are planning on applying for life insurance, you should get a medical exam done by your primary care physician before you request quotes or submit an application. Most of the best insurance companies in the industry will require you to complete a medical exam to uncover potential health risks that you have and did not know about or did not disclose on your application. When you get an exam first, you will know whether or not you should expect to pay higher premiums based on your current health. Once you have a clean bill of health, you can steer clear of insurers that will charge you higher premiums for approving your application without requiring medical exams. If you do have a medical condition, such as diabetes or you are overweight getting checked ahead of time can still help keep money in your pocket. There are life insurance providers who specialize in high risk individuals and will award you with savings for keeping up on your medical conditions and taking the necessary precautions to keep your condition low risk.
Cut Out the Nicotine
Almost all insurers will require you to submit to an Oral Swab Test to test for the use of nicotine. If you are a smoker, you will pay surcharged premiums because you are at a higher risk of being diagnosed with cancer and heart disease. Most oral swab tests can detect nicotine use within the last 30 days, even though many insurers say the tests can detect use in the last 6 months. If you really want to keep your costs low, quit smoking and you will even live a healthier life. Even in the event you are issued a policy at a smoker rate, you can still qualify for non-smoker rates if you quick smoking for at least 2 years.
Buy While You Are Still Young
Insurance premiums are based on your age at the time of application. Obviously, the older you are, the more risky you are to cover. When you are younger, you are generally in better health. You have a better chance of getting a preferred or super preferred rating based on your health and weight. This is why all of the most experienced agents will tell you to apply for insurance before you even think that insurance is a necessity. When you purchase a term life insurance policy you are locking in the price for a set period of time. It is recommended to purchase a longer term the younger you are in order to keep the cost fixed into your older years when you are likely to suffer from health problems.
Obviously, the best way to save on your life insurance premiums is to comparison shop. Some companies specialize in term life; others offer better premiums for permanent plans. By price shopping, you can see which insurers offer competitive premiums and different types. If you want to make comparison shopping easier, use the quote engine on Mozdex.com and get connected with the leading life companies without dedicating a lot of your valuable time.
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