Here are 5 Tips to getting Low Cost Life Insurance:
1. Know how much coverage you need
Families don't think about how much life coverage they need .
Add up the following:
Mortgage Payments / lodging
Each Month's Living Expenses College Expenses
Childcare Expenses for a certain number of years
Take those expenses and calculate the costs for 20-30 years (your kids should be working after that time period)
2. Get Term Coverage
Reemphasizing Strategy #1. Do you need life insurance forever? NO. NO. NO. It is there to protect the income provider if something happens to him or her . Your dependents, who may include your spouse, children or parents depend on your income . When they finish college and enter the workforce they can create their own income and there is no longer a need for life ins .
If you want more expensive life insurance buy Whole Life Insurance Coverage. Make sure you do not combine investments with life ins either . Separate investing and life insurance. Never combine them!
Buy Term Coverage. You will cut your premiums by 70% just by doing that !!!!
3. Get Term Coverage within Ranges
Did you know that there are tiers for life ins? The rate of coverage will go down on higher tiers. You just need to know where they are. As an example, the first tier ranges from $100K-$249K and the rate per $1000 of coverage is!!
4. Do Not Get The "No Medical Term Life Insurance"
There are some companies that allow you to purchase a policy without having you get a medical exam . Sounds dandy but you are limited in your instant life insurance coverage, the premiums are much, much higher AND you are limited in coverage amounts .
In regards to the medical exam you set the time and location for the physical exam and it only takes 10-15 minutes of your time .
5. Compare Life Insurance Quotes
Absolutely a must. At a comparison shopping site you force each insurer to present you cheap life insurance rates.A Life Insurance Company must compete for your business at a comparison shopping site. Take full advantage of this .
At BaseQuotes we give customers the chance to compare Low Cost Instant Life Insurance Quotes from the top insurers in the US . Former insurance agents ourselves we know that the only way to get those savings is to compare them.
