Congratulations! You’ve decided to buy a life insurance policy, an important step in protecting your family. Now that you’re on your way to becoming an informed consumer let’s make sure you don’t get stuck with an overpriced policy that doesn’t meet your needs.
Understand Your Needs
Before applying for life insurance, it’s important to understand what type of coverage best meets your needs. A single person may only require $25,000 worth of coverage—but if you have a large family with multiple dependents, it may be necessary to purchase a policy with a higher benefit amount (upwards of $1 million). You can get Life insurance quotes with no exam with some top companies for your needs.
Know Your Options — Term Life or Whole Life?
Life insurance is a contract between you and the insurance company in which they agree to pay out money when you die. There are two main types of life insurance: term and whole life.
Term life insurance is meant for young people or those who are healthy, whereas whole life covers people for their entire lives but costs more money upfront.
Insurance experts like Ethos say, “Choose coverage from $20,000 to $2 million.”
Get Insured During Your Working Age
You are likely to be in your prime health during your working age. The ideal time to buy life insurance is when you’re young, healthy and have a strong financial position.
Be sure to get insured before you get sick or older! Life insurance premiums are higher for people with pre-existing conditions. The longer you wait, the greater risk that a medical condition could prevent you from getting insured at all.
Also, don’t wait until after having children to purchase coverage. You may want to consider buying term life insurance that does not cover disability benefits for those who become disabled before their policy period ends (such as cancer).
Don’t Smoke or Quit Smoking
If you are a smoker, then it is time to quit smoking. Smoking can cause heart disease and cancer, which may lead to early death. If you do not smoke or have never smoked before, then it’s recommended that you keep on living and stay as healthy as possible.
Although no guarantee on medical exam life insurance will give you an affordable premium, it is still better than having full medical exam life insurance with a higher monthly cost due to the additional health questions that may be asked during your application process.
Stay Fit and Healthy
You can get a lower insurance premium by staying fit and healthy. The healthier you are, the less likely it is that your life will be cut short.
Here are some tips to keep you healthy:
- Exercise regularly
- Quit smoking if you do smoke
- Eat right and drink plenty of water
With these helpful tips, you’ll be able to find the perfect life insurance policy for your needs.
Remember that each person is unique, so there is no one-size-fits-all solution when choosing a plan that works best for you. Instead, the key is finding a level of coverage that matches up with your financial goals and lifestyle choices so that you can sleep easy at night without worrying about how your family will fare if something happens unexpectedly during their lives (as well).
