Guarantee Inexpensive Life Insurance in 2010

Are you paying to much for your life insurance right now? Is it a struggle for you to pay your premiums every month? Of course you love your family and want to protect their financial future, but at the same time you shouldn’t have to give up an arm and a leg to do so especially in this hard economic time.

So here is your complete guide to saving as much money as you possibly can on life insurance and guarantee that your next insurance policy will be low and inexpensive.

1) Shop around online first

Online is a great place for you to get useful information about prices. Try to give as much information as you can when getting a quote, this will make sure that your quote is as accurate as possible.

2) Look into term life insurance

Not only is term life insurance much cheaper than permanent insurance, its very easy to understand. You pay a low monthly premium for a specified period of either 5, 10, 20 or 30 years. Its the perfect policy to cover some of your short term goals such as your mortgage or your children’s college tuition.

3) Live a healthy life style

If your a vibrant healthy person than its almost impossible for your premiums to be high. Things such as having an illness or your smoking habits are what make your premiums sky rocket. Another factor is your weight. If your over a certain weight requirement on a policy than there is a good chance that your application will be denied. If this has happened to you before than just shed those few pounds and apply again and you will get approved. Not only will you get the coverage you need for your family by being healthy, but you will live a much longer life and your family won’t have to use that death benefit for a very long time.

4) Buy only the coverage you need

Have your insurance agent sit down with you and do a needs analysis to get an accurate count of how much coverage you need if your family member dies to ensure that your finances aren’t affected. Most recommend getting coverage amounts that are about 5 to 10 times your total income annually due to funeral cost, debt and any other instances where you owe money and weren’t aware. Rexamine your insurance policy when you make major life chances such as a career change, having a new baby or buying a new house.

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