Does affordable life insurance really exist? Well, this depends on a few different things such as, are you married or are you single? How many kids do you have, if any? What is your current age? What industry are you in for a living?
Do you have "risky" or unsafe hobbies? These could be anything along the lines of scuba diving, skydiving, pilot, mountain climbing, race car driving, ect?
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Here are a few tips that might help you in finding affordable life insurance.
#1. Don't take part in dangerous activities. Think about this for a moment. Would you sell yourself a life insurance policy? You see, life insurance companies base the cost of your insurance policies on a few different sets of criteria. This is determined by the average annual deaths in your age bracket.
What this determines is that a certain percentage of people in your age group will pass away over a certain period of time. This means that you can either expect to be rejected for life insurance coverage, have your high risk behavior excluded from your policy or pay a much higher than normal premium. Excluded means that this activity is not insurable.
#2. Maintain good health habits. This means to shape up, sleep regularly and eatsmart. Leading a balanced life will lower your stress levels. Bad habits are obvious. This means sex with one partner, stay in shape and stop smoking. Quitting smoking will save you a ton of money over time.
#3. Think about buying Term Life instead. Term life insurance policiesare by far the least expensive. You could buy a Term policy for a ten or twenty year time frame, in order to get you to retirement age. You may want to invest in Guaranteed Renewable Term life insurance instead of Whole Life. "Guaranteed" Renewable means that once you buy it, you've got it for as long as you want it, as long as you maintain the premium payments.
#4. Look around before you buy. Check different companies, speak to different agents and compare them all.
Take an evening and thoroughly review each offer. Always ask questions. Also, you should have a thirty day "free look" at your policy after you receive it. Check it out thoroughly. Check for anything that you may not understand such as "exclusions" or "Modifications".
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Do it right now because once you're gone, you're gone and your beneficiary is left with the consequences. Make certain that they are secure by taking the time to read the policy front to back and get on the phone with the insurance company and insist that they explain it to you thoroughly.
#5. Sit down and go through every expense that you have now and expect to have in the future. You'll be able to figure out apx. how much insurance you'll need to buy by doing this. Everything goes on this list, food, house payment, clothing, pet care, ect,.
Refer back to these tips before you get ready to buy your insurance. Good luck!
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