A person’s lifestyle and habits have huge effects on his or her life insurance rates. In spite of these you can still pay less for life insurance if you are aware of a few things you should avoid.
Most of us know that we will save in life insurance if we lose weight and/or stop smoking. What most of us don’t realize is how much we’ll save if take such steps. You can lower your rates by as much as 50% if you reapply after quitting smoking for at least twelve months.
Smokers pay twice as much with most insurance companies. So you can see that if you add the savings you’ll get for having the right weight, you’ll even save much more. A 50% rebate is quite possible if an overweight gets into the right shape for them.
Although it’s good to take convenient options, do you know by what factor they raise you life insurance premium?
For example, although it’s more convenient to pay monthly it costs you a lot more? Some insurers have fees that are as high as 20% of the annual premium if policyholders opt for monthly payments. You’d have to determine if the cost of the convenience is justified.
Just check with your agent to see if the difference is a compromise you’re okay with. If the compromise is worth it, then go for it. But if it’s not, you can save such amounts and pay yearly.
How do you check?
Get and compare quotes. Furthermore, you can take this to the next level for more savings if you get and compare quotes from at least three sites that return life insurance quotes for your state.