You should be thinking about the present and future.
First, think about your coverage needs like: How much do you owe on your mortgage, how much accumulated debt do you have, & how much do you plan to leave your loved ones?
Next think about what exactly the life insurance carriers look at. These factors play a big part in how much you will pay for your term life policy. They look at things like general health, family medical history, age, gender, smoking, and your lifestyle choices.
Now that you covered how much coverage you need, here are some tips to follow to get the best possible policy for you:
1. Know your height and weight. When purchasing a life insurance policy, life insurance carriers are very strict on the nitty gritty details. They need to know the state of your health to decide on the life insurance policy for you.
2. Try to live as healthy of a lifestyle as possible. The healthy you are, the more likely you are to receive lower premiums on a term life insurance plan.
3. STOP SMOKING. This goes for anything you do in life. Smokers pay almost double on premiums than nonsmokers. Quit smoking for your health and lower cost.
4. Consider layering your life insurance policies. Some carriers recommend buying multiple life insurance policies to cover different periods of your life.
5. Buy a term life insurance policy now. The younger you are, the more likely you are to receive an affordable plan.
Cosmo Insurance Agency is knowledgeable in various options including but not limited to – term, ROP, permanent and whole – from over two dozen A rated carriers. We are familiar with the rate classifications that particular carriers use to determine the health class of enrollees – and there are significant differences between them. No matter what the results of your medical examination are, we will find the insurer that will provide you will the best rating class and thus the lowest premiums.
