Term life insurance in California is the most popular form life insurance that’s available for one primary reason: its cost.
There are two kinds of life insurance policies out there: term life insurance and whole life insurance. Chances are, if you are looking to purchase term life insurance, you are doing so to save money. And who can blame you? Less money you spend on life insurance, more money you can spend on things you want to spend money on. Let’s give you some more good news: you can save even more on if you use these great money saving tips when purchasing term life insurance.
How to Save on Term Life Insurance
(Note: These are not immediate savings, rather these are long-term savings.)
Buy Insurance Young
Purchasing life insurance when you’re young may not be anywhere near your purchase list. But you have one advantage of buying young: you’re still healthy. Life insurance premiums are based on age and health and your risk of dying. Young and healthy people have a very low risk of dying so your premium will be low. Waiting until you’re older to get life insurance may drive up your prices and make it difficult to acquire if you are dealing with health issues.
Ask About a Renewal Guarantee
If you qualify for a renewal guarantee, you will only have to take your medical once. That means when your insurance is up for renewal you won’t have to take your medical again. While your premium is partly based on age, it is also based on current physical health–which is a good thing, especially if your health has declined over the years.
To learn more about life insurance and what it can do for you, contact Donald Weiss Insurance Services. Our dedicated team will help you determine your coverage needs, helping you pick the right policy with the right term for your goals. Don’t be left with questions when buying this essential coverage; call us today!
