6 Ways to Lower Life Insurance Rates.

Any busy family, young professional, or married couple knows: Saving money is a good thing. And yet some expenses, such as life insurance, are essential. Many experts consider life insurance to be invaluable. But it is still possible to save money and stay protected with a Whole Life or Term Life policy.

To begin with, we encourage everyone of any age to purchase a policy. Not sure if it's in the budget? See how coverage can cost less than your daily coffee or shopping habits.

And here are a few tips to further lower life insurance rates and make your policy more affordable than you thought. Discover them all:

1. Apply while you are young. When it comes to life insurance, a younger customer can often get a more affordable policy. Why? Overall health and less pre-existing conditions play a role. Since younger people often have few health threats, the sooner you submit your application, the lower the price you can get. And remember this: the price you start with is the price that is fixed for the future.
2. Have a healthy lifestyle. There are certain health conditions and restrictions that are beyond our control. But for things like exercising and eating well, improving blood pressure, quitting smoking, and more, taking healthy steps can lower your life insurance rates. If you are living a healthier lifestyle and need a medical exam to show improvements, your insurer may be able to lower your premium.
3. Evaluate dangerous hobbies. Did you know? Thrill seekers pursuing higher risk hobbies such as mountaineering, skydiving, scuba diving, and more may have higher life insurance premiums. An insurance company would never ask you to find new hobbies, but they can charge you extra premiums to protect you from disaster.
4. Get a life insurance policy. Life insurance and term life insurance both have their advantages. While a Whole Life policy offers comprehensive protection for life, a Term Life policy can be cheaper right now if price is your main driver. Term Life offers coverage for 10, 20 or 30 years at a more affordable rate. Once that time frame is up, you can re-evaluate your goals and financial situation and decide to start another Term Life insurance policy or switch to Whole Life coverage.
5. Consider the coverage you need. If you've had a policy for a while, take a moment calculate coverage again. What does your family need if something happens to you? If you have more coverage than you would need, see if you can lower your coverage amount or request a lower rate again.
6. Re-rate riders. Within your policy you may have additional coverage benefits called drivers. Talk to your agent about which riders are included, what you need, and what you might be able to remove if you're hoping to lower your rate.

We understand that every family's life insurance needs are unique. The best way to start is by talking to your local independent agent. They walk you through the policy options and help you get the best coverage at the best rate. Connect with a local independent agent today.