Finding the right life insurance policy can seem like a daunting and pricey task. 80% of Americans overestimate the cost of life insurance according to a 2015 Insurance barometer study by Life Happens and LIMRA (a research, learning and development organization for financial services companies). The reality is that it is fairly easy to get a policy that fits your needs and your budget.
The Sooner the Better!
Most young people don’t consider life insurance an important investment for their future. But, one of the benefits of obtaining life insurance at a younger age is cost. Lower rates can be locked in so if there are health issues in the future, lower rates can remain in place as long as the premium payments are made.
Good Health Benefits
Maintaining good health habits are important and can help in the affordability of life insurance options. Life insurance rates are based on several factors, especially health and lifestyle. An example of this is if you are maintaining a healthy weight and don’t smoke, insurance options will be more affordable. If health issues do arise such as with blood pressure or diabetes and you can show you are active in managing these concerns, you may be able to negotiate a lower premium rate. Be wary of policies that offer insurance without a medical exam as these do not go through a full underwriting process which means higher premiums for you.
Options for Layering Policies
Life changes. Having children and college educations may be a consideration when building a responsible financial future. Consider layering life insurance options. Start early with an affordable plan to cover short term goals and then add long term options to cover long term goals.
Finding the Right Provider
Finding a reputable and trusted company is important. Coliday will work hard to find the best policy with the best coverage and rates that fit your needs. Contact us at 949-216-8459 or ccolley@coliday.com