Quick Life Insurance Rates Guide, How to Get the Lowest Rate Possible

Life insurance is vital, especially if you have people depending on you as their bread earner. In the event of death, you do not want to pass a financial burden to your loved ones, such as funeral costs, hospital bills, and other outstanding debts. So, you need to choose a reputable life insurance company and a policy that best suits you. That way, if you die, your family will receive the death benefit, which they can use to cater for any outstanding bills.

Unfortunately, many people do not realize how affordable life insurance can be. With proper planning and exercising due diligence, you can even qualify for more competitive life insurance rates. And since insurance companies are not created the same, you need to shop around in order to land a company with the most favorable rates. Explored in this article are some of the surefire tips to help you get a good rate on life insurance.

Be certain that you need the insurance

This is very important because some individuals decide to acquire life insurance because others have done it. You should not be influenced to buy life insurance because one of your friends or family members used it. You have to think about your specific individual needs and use that to guide you. Imitating people is not the right way to go because everybody has a unique purpose of buying life insurance. You have to make an informed decision, such as knowing the amount you want and why you need it. That way, you can be able to shop around for the product you want and land the most favorable rates in the market. 

Most importantly, if you do get coverage, get only what you need. A professional can help you figure out how much coverage you need.

Stay healthy

Premium costs are largely affected by the current health status of any life insurance applicant. To make sure you land the best rates, you should consider working towards being healthy. This may involve doing regular exercises, eating a healthy diet, and avoiding exposure to risky activities or hobbies. Ensure you take proper diet to help lower your cholesterol and blood pressure. Unless you are buying a no medical exam policy, the insurer will insist for a medical check-up.  Eating right and shedding excess weight is likely going to reduce your life insurance rates. Studies have revealed that even small changes to diet can help reduce your blood pressure and cholesterol levels, and this is likely to normalize your weight.

Quit smoking

If you are a smoker or uses any other tobacco products, you may consider stopping the habit. This is not only going to improve your health but will also save you money on your life insurance. Remember that life insurance companies see smokers as people who are highly vulnerable to death, and that is why their premiums are a bit higher than for non-smokers. If it is hard to stop the habit, then you may upgrade to a healthier version like e-cigs.

Shop around carefully

As mentioned earlier, insurance companies are never created equal. As such, you need to tread carefully so as to land one with the best rates. Remember these companies offer different rates and also rate clients differently. So, by taking your time to compare rates from different insurers, you are no doubt going to land one with good rates.

Always engage an independent life insurance agent to help compare rates from different insurers. Independent agents work with multiple companies and can easily tell you the company offering the most favorable rates in the market. The agency will not only assist you in getting the best rates in the market but will also advise you based on your specific needs. In addition, agents have a wealth of experience on what works and what does not work.

Compare life insurance quotes

This is a great way to land favorable rates for life insurance. You can do this by researching online sites to get plenty of quotes. The great news is that technology has made things look simple. You only need to sit down with your computer connected to the Internet and do extensive research. If possible, visit different insurance offices and make inquiries. Remember a physical meeting is better than a telephone call. Also, you may consider using an independent agent who can compare quotes from different companies on your behalf. Remember the agency will be working for you not the insurance company, so all favors will be geared towards you, not the company.

Act fast

The more you wait, the more it will cost you. For instance, people who opt for life insurance at tender age end up getting the best rates. But waiting until you turn 60 the rates may not favor you whatsoever.

Opt for annual premium payments

It is advisable to pay your premiums in a lump sum instead of paying every month. Monthly payments usually attract administrative costs, and this may not do you any good financially.

Avoid over-insuring yourself

You should only buy what you need. You have to consider exactly where your needs lie and buy a policy that is going to cater to them. Remember a policy with a higher face value is equally expensive. If possible, you should pair up policies to cater to your specific needs instead of buying one big policy that does not properly suit you. By so doing, you pay less and you can cancel when you no longer require the coverage.

Be honest

Honestly is crucial when it comes to obtaining life insurance. The information you give out to your prospective insurer ought to be correct. If, for instance, you are a smoker, make sure you disclose everything.. Remember the insurance company is going to conduct a full review of your medical and lifestyle records so avoid giving false information. Giving out wrong information can be detrimental in the long run and can greatly affect your rates.


The premiums you will pay for your life insurance will depend on your actions and the time you allocate to do your legwork. For instance, if your health is not that good, then consider finding a way to shape it. Also, if you a smoker, quitting can be a solution to getting a good rate on life insurance. In addition, working with a seasoned independent life insurance agent can make a big difference when it comes to buying life insurance coverage.