Life insurance fair tips: Stop smoking. If you’re a smoker, you’re probably fed up of hearing people tell you to stop. However, when it comes to life insurance, you’ll pay a significantly hiked premium if you indulge in tobacco. To count as a non-smoker, you have to be completely nicotine free for a year, including patches, gums and vaporisers, but you’ll get a knock down price on your life insurance as a reward.
Opt for An Annuity Payout Instead of Lump Sum. Most people who have some knowledge of life insurance know their beneficiaries receive a tax free lump sum upon their death should they die while the policy is in force. But, did you know that you have another choice in regard to how your beneficiaries receive a life insurance payout? It’s called an “annuity payout”. This simply means that instead of a lump sum, your beneficiaries receive the death benefits over a period of years. Many insurers have different options when it comes to annuity payouts, so choose carefully. Opting for an annuity payout will reduce the premium you pay.
A low percentage of millennials — along with their counterparts in the preceding Generation X — believe they are likely to ever purchase life insurance, according to a 2015 study by life insurance research group LIMRA. It’s understandable: When you’re young, the last thing on your mind is what your heirs will do after you’re gone. But if you have certain financial obligations, you’ll want to have life insurance, especially if you’re buying a home or starting a family. Read extra info at Life Insurance Quotes Pennsylvania.
Life insurance is a smart financial move. If you’re looking for a recommended amount of coverage, you can expect to pay about 1% of your annual salary on the annual cost of term life insurance. (Spending 1% of your income to protect years of income is a pretty good deal.) Make sure you know how much life insurance you get at work. Many people assume they have more coverage at work than they really do. You should look carefully at the amount of coverage your company may provide, then buy additional life insurance, either through benefits plans at work, or on your own, to make sure you have the right amount of coverage for your unique needs.
Pricing varies among life insurance companies, so there’s NO single company that can necessarily deliver the best values in every case. By comparing rates from many different insurance companies in all categories, we can help you find which carrier can provide the most value for your money. Most local agents aren’t paid to do that, so they’re not going to spend the time to find you the best values in the marketplace like we do here at Term4Less. See more details at terms4less.com.