Buying life insurance is one step in addressing your family’s future after you die. As you navigate the various options, you may wonder how you can afford to provide for your family after you pass away. Overall, a policy is less expensive than you think. Still, there are opportunities to lower your premiums even more. Take a look at this list and then talk with your life insurance broker to get the best deal possible.
7 Tips to Reduce Premiums without Compromising Coverage
- Buy Now, Not Later: Insurance companies look at how old you are and how many years you are expected to live. The younger you are, the longer you have to live, the lower your rates. You pay more as you age and health risks increase.
- Kick the Nicotine Habit: Smoking is unhealthy all the way around, including its effects on your wallet. Smoker’s rates are double and sometimes triple of a non-smoker’s. Also, if you smoke, your life-span is almost 10 years shorter than a non-tobacco user. Stop now and ask your insurer to reexamine your rates after being smoke-free for a year.
- Lose Weight: Your weight adds additional risks to your health. Obesity is linked to diabetes, heart conditions, and higher mortality rates. It is a good idea to lose excess weight or maintain an existing healthy weight not just for your pocketbook but also for the sake of enjoying life more.
- Keep Existing Medical Conditions Under Control: Do you have high blood pressure, high cholesterol, or asthma? Make sure you work with your doctor to keep your condition under control, including taking your medication as directed.
- Discover Safer Hobbies: Believe it or not, your hobbies can affect your rates. Do you love skydiving? Maybe you are a rock climber. Have you picked up hot air balloon racing? Even scuba diving or motorsports can affect the price you will pay. If you can handle staying grounded, it may pay off in your premiums.
- Be a Safe Driver: There is a lot to be said about safe driving. Not only do you save gas and money on your auto policy, but you can save some green on your life insurance rates as well.
- Take Advantage of Multi-Policy Discounts: When you have more than one coverage package with a company, you may be entitled to additional discounts from your carrier.
Customized Guidance from Your Insurance Broker in Mississippi
Be in control of your family’s future by taking proactive steps to stay healthy and lower your insurance premiums. There is no time like the present to get better rates. Avoid waiting for the perfect time. Talk with a life insurance broker from EPG Benefits who uses an integrated approach to help you with financial planning and coverage. Our hardworking team is known for outstanding service. Set up a consultation to learn how we can assist you in providing a secure future for your loved ones after you have died.
Request a quote or call us today at 601-982-3000 to speak with an experienced and friendly for life insurance broker in Mississippi.
Disclaimer– Securities Offered Through Valmark Securities, Inc. Investment Advisory Services Offered Through Valmark Advisers, Inc.
Executive Planning Group is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.