Although term life insurance has the cheapest rates of any life insurance policy, consumers can take steps to lower term life insurance rates even more. Discounts, multiple insurance policies, group rates, choosing the right amount of coverage, and lifestyle changes can help applicants get the best term life insurance rates. Consumers may have to do a little research and comparison shopping using life insurance quotes, but life insurance is an ongoing, long term expense and commitment, so it is worth the time to compare policies and insurance companies to find the best term life insurance rates available.
Group Term Life Insurance
Groups have buying power and usually receive a substantial discount and cheap rates for their members. Businesses, employers, fraternal organizations, trade unions, AARP and other groups offer their members group term life insurance rates, which are usually cheaper across the board for young adults, parents, singles, and senior citizens. Group life insurance may limit the amount of the death benefit on life insurance, which may mean some people will have to supplement their group policy with a private term life insurance policy. Group term life insurance plus a supplemental policy is usually more affordable to purchase than a single term life insurance policy for the full amount.
Discount Term Life Insurance
The most commonly offered discount on term life insurance is the bundling discount which is offered to customers who buy multiple policies with a single insurance company. The policies do not all have to be life policies, and can be auto, home, health or even boat insurance. The insurance company typically offers about 10% to 15% discounts on all the policies you purchase from them. There may also be discounts for gym members, credit unions, colleges and universities, and some life insurers even offer free gym memberships with purchase of life insurance.
Finding discount term life insurance simply requires consumers to get term life insurance quotes online and see what insurance companies are offering for rates, policies, and coverage. Most carriers will even tell you if you qualify for certain discounts, making online quote comparisons the easiest way to get the best term life insurance rates you can.
Changing Habits and Lifestyles
The best term life insurance rates are given to individuals who have no history of alcohol abuse, are non-smokers or who have given up smoking for some time, and are not obese. While no one can change their family medical history or cure chronic health problems like diabetes, heart disease, or cancer, losing weight, exercising or quitting smoking can substantially increase both the quality and length of a person’s life, and get you cheap term life insurance. Those who quit smoking or lose weight can get lower term life insurance rates by adopting healthy habits.
Buy Life Insurance While Young and Healthy
Life insurance companies use mortality tables to determine term life insurance rates for policyholders over the period of any given policy. Since younger individuals are less likely to die during a policy term than older ones, allowing the insurance company to avoid a costly payout, the younger and healthier an individual is when he or she buys life insurance, the cheaper the life insurance rates. Longer terms have higher rates because they are based on the average age of the insured person over the entire term of the policy, but young policyholders still get the best term life insurance rates even on a 30 year term policy.
Term Life Insurance Quotes
Consumers save money when they compare term life insurance rates offered by different insurance companies competing for their business. TermLifeInsuranceQuotes123.com offers free, instant term life insurance quotes from the best term life insurance companies so consumers can compare prices, death benefits, coverage terms, and types of insurance to find the best term life insurance rates. Individuals can request online quotes by entering their zip code, choosing a carrier, completing a short form with basic information and selecting the type and amount of life insurance they want. Term life insurance quotes are available instantly, without hassle, and no obligation to buy. A life insurance quote is simply the best way for consumers to compare rates and policies to find the best, cheap term life insurance for their family’s financial needs.
While some consumers think there is nothing they can do to save money on life insurance, proactive consumers know how to get the best term life insurance rates. Most policyholders pay for life insurance every month over their entire life, so it pays to compare life insurance quotes and find the lowest rates. A little time can save a lot of money spread over the course of years, so individual’s purchasing life insurance should take the time to shop around. Enter your zip code to begin an online life insurance quote and search for affordable life insurance.