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Tips for Finding the Best Rates for Life Insurance Life insurance rates vary depending on one’s health history. A recent survey conducted by insuranceQuotes.com showed that smokers generally pay more than thrice for the same coverage than non-smokers. Your overall health, age, occupation, and hobbies are also considered and can increase premiums. But that doesn’t necessarily mean you have to pay higher rates or avoid insurance altogether. Here are four things insurance professionals recommend for those looking for the best rates of life insurance. Shop around
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Take your time to compare policies. Some insurers charge smokers more than other insurers. You may utilize online aggregators to weigh up rates and plans or have an agent shop for insurance on your behalf. Every insurance carrier has their own method of determining rates, so try to get at least three quotes including rates from a leading carrier that provides coverage countrywide.
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Get in shape Healthy people generally get lower life insurance premiums. While different insurance providers have different requirements for one to be considered a non-smoker, the best way to get reduced rates is to quit smoking. If you’ve been denied life insurance or are paying higher rates on life insurance than you imagined, you should use this chance to look after your health. Once you’ve done this, you can then go back to your insurer and demonstrate how you’ve improved. If you quit smoking and already have life insurance, you should alert your insurance company and ask about getting a reduced premium. Sign up for a group policy Many corporate benefit schemes provide life coverage without requiring you to undergo any physical or medical tests. While they often cap how much one can take out, it’s a good way for an unhealthy person who can’t afford the rates to get coverage. In many cases, joining an organization or association can often get you access to group life insurance. Review your coverage yearly Make sure to review your policy yearly or when you have a life-changing experience such as a divorce, wedding, or new child. You should also ensure your beneficiary terms are updated and compare your options, especially on term life insurance, so as to ensure you are paying the least rate possible. You can also change your premium payment mode to save some money. When looking for life insurance, always be honest with your agent and use some common sense. Carry out some research the different varieties of life insurance and compare all of them with an agent. If you are not sure, you can ask questions. As you get older, it can be more difficult to qualify for life insurance, so it is recommended that you look for one when you are young. And always ensure you can afford the policy you choose.