1. Don't rely solely on the life insurance offered by your employer: Dont count on your employer coverage; the employer amount of coverage is usually not enough to adequately meet your life insurance needs.
2. Compare prices and Negotiate
3. Never buy more coverage than you need: If you have more life insurance than you need, you'll be paying unnecessarily for higher premiums.
4. Buy in Bulk: Sometimes more insurance costs less, especially as you approach multiples of $250,000.
5.Realize the importance of periodically reviewing your coverage: Any life change indicates the need for a review of your overall financial and insurance plan.
6. Health Problems? Seek Out a Specialist: A person whose disease is under control could save as much as 50% on a premium.
7. The healthier you are, the better the rates: You may cut your insurance premium more then 40% if you stop smoking and lose weight.
8. Buy sooner rather than later: The younger you are when you purchase life insurance, the lower your premiums will be.
9. You don't necessarily have to pay a commission: One of the reasons for higher premiums is that most life insurance policies pay commissions to the agent. You may be able to purchase a no-load policy through an insurer that sells no-load policies directly to you.
10. Know What You Are Buying: Life insurance agents are selling a whole life insurance, pure and simple. Agents like to emphasize the tax-free accumulation of cash value in a whole life policy but what they don't tell you is the down side.
11. Avoid Hidden Fees: Ask question regarding any premium charges in your life insurance policy. There are no secrets.
12. Tell the whole truth and nothing but the truth: Do not think about lying on your insurance application. If your insurance company finds it out, they might be able to terminate your coverage.
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