How to Save on Life Insurance

Life insurance. It's not something anyone really wants to think about, because no one wants to consider the possibility of dying earlier then expected. Having said this, Life Insurance is one of the more important insurance types anyone can buy. Be aware that there are a lot of companies out there that will rip you off on policy terms. Because of this I have created a short, but important list of things you can do to save money on your Life insurance policy:

#1 Look for "No Load" Policies
Although they are rare, "No-load" policies are a smart move. This means that you are not paying any of your monthly premium for expenses to the agents, thus more money will go immediately to work for you. The best way to get a No-Load policy is to seek out financial advisers which charge a flat one time fee.

#2 Improve Your Health
There is no questioning why a Life Insurer would charge a lower rate to someone who is healthy. Concentrate on quitting smoking, losing weight, and decreasing your blood pressure and cholesterol levels. Note that you usually have to stop smoking several years prior to getting a policy in order to get the "non-smokers" rate.

#3 Pay Entire Insurance Bill Yearly.
Do not opt for the monthly payments. This will only increase your rate and interest payments. If you pay the policy free and clear at the start of each billing year, you will walk away with much more cash at the end of the year.

#4 If You Are Healthy, Do Not Buy A Guaranteed Issue Policy
Guaranteed issue policies are policies which require no medical exam, and are guaranteed to you. The problem is, that if you are healthy, you want the insurer to know. Guaranteed issue policies are riskier to the insurer, thus they cost more for you.

Remember as with every financial decision, do your research, online and offline to make the best decision possible for you.