Affordable Life Insurance Plan

How to find an Affordable Life Insurance Plan

 

Which Type of Life Insurance is Most Affordable?

The type of life insurance that costs the least is term insurance.

Term insurance is temporary coverage for 30 years or less. You can choose term life plans for a term of 10, 15, 20 or 30 years. The shorter the term (duration) of your policy, the lower the cost.

What are Tips for Finding Affordable Coverage?

If you want to save money on your life insurance there are several tips you can follow:

 

• Choose Term Life – Permanent life insurance costs 2 to 3 times more than term insurance.
• Get Healthy – People who are on medication, have health problems or are overweight pay much higher premiums for life insurance compared to healthy people.
• Quit Smoking – Smokers pay 2 to 3 times more for the same amount of life insurance compared to non-smokers.
• Pay Annually – Paying your premiums monthly will cost more since there is a surcharge due to more processing time compared to making one payment per year.
• Compare Rates – By comparing pricing among several insurers you may save money since each insurance carrier has their own pricing guidelines.

Which are the Most Affordable Life Insurance Carriers?

When it comes to finding the most affordable insurers, it depends on your risk factors. For instance, some insurers are more competitive for diabetics, while other insurers offer better pricing for smokers or people over 60.

That’s why it’s important to compare prices from several insurance carriers to help you find the insurer that offers you the most affordable policy based on your personal risk factors.

What Risk Factors Affect the Price You Pay for Life Insurance?

There are several factors that impact how much you pay for your life insurance. Each of these factors affects how long you are expected to live. 

Life insurance risk factors include your age, gender, lifestyle, tobacco use, driving record, health, height-to-weight ratio, and family health history.

The younger and healthier you are when you buy your life insurance plan, the more affordable your coverage.

What is the Most Affordable Life Insurance for Seniors?

A term life insurance policy offers the lowest prices for seniors. And, the shorter your term for coverage the lower your cost.  So, a 5-year term life policy would cost the least for a senior.

Life Insurance Quotes

Top Pick – JRC Insurance Group

JRC Insurance Group helps you shop, compare and save on life insurance. Regardless of your age or health background, we'll shop our 63 top life insurance companies and find you affordable life insurance you need to protect your family and fit your budget. Compare the best life insurance rates for savings up to 73%. Get Your FREE Quote

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