top 10 tips

Buying a life insurance policy is an extremely vital way that you can protect your family or beneficiary financially in the case of your sudden death. However, high life insurance premiums can make a hole in your pocket, but there are many ways by which can save on life insurance Calgary or reduce your premium.

  1. Excellent health: If you have a good health, particularly when you apply for a life insurance, then the company will charge lower premiums. Remember, diabetes, heart disease and high blood pressures are among those conditions that can make insurer increase your premium prices.
  2. Group Life insurance: It can be an alternative to your Personal Life insurance if the insurance company provides sufficient coverage at least you are protected as long as you work.
  3. One policy for you and your spouse: You can get one policy for both your spouse and you. It will be often inexpensive than two separated life insurance policies.
  4. Adjust the coverage amount: You need to ensure that you are not taking extra insurance coverage than you required. You can ask your insurer if you need big insurance coverage.
  5. Less Dangerous job: If you are doing a dangerous job like you are a member of the police bomb squad, then it will help to avoid extra insurance premiums.  Life and disability insurance analyst
  6. Stop smoking and drinking: If you are a chain smoker, you have to stop it before few months prior to applying for a life insurance policy/. However, if not, then ready to pay double premiums. Same story with drinking.
  7. Good driving record: Make sure that you have an excellent driving record when applying for a life insurance. Remember, a bad driving record is penalized by life insurance providers as well as by auto insurance, and your premiums will go up by extra 30 to 40 percent.
  8. Family Background: Having a fit and healthy family lowers your life insurance premiums because you are less expected to face a serious illness. However, identified serious issues in your family’s medical background can raise your premium amount. Look at examiner post to Top 5 Tips to Consider When Choosing a Life Insurance Beneficiary for business
  9. No depression: Remember, mental health matters a lot, and those with a history of sadness, depressions pay more premiums usually.
  10. Compare Prices online: Different Insurance companies Calgary has different rates so do an online research on them. The best way to get the price is asked to companies for life insurance quotes and compares prices. You can also compare prices by using any online software, which are easy to use as well as saves you both time and money.We like to share Bankrate inforgraphic survey -

life insurance survey

Once you have selected the best insurance policy with best price, and then pay premiums annually because many companies charge some fees for monthly billing. However, some insurers charge less if they transfer the premium amount from your checking account directly.

Image courtesy of t0zz / FreeDigitalPhotos.net

Leave a comment

Leave a comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>