Saving money on life insurance
How to save money on life insurance?
- Work with an independent broker who can shop on your behalf with multiple companies
- Do not buy from a bank; mortgage insurance is usually about 40% more expensive
- Compare various insurance companies
- Consider a decreasing term: over time your need for insurance will go down. You may need insurance for 25 years but do you need the same amount of insurance for 25 years?
- Don't use any tobacco at all
- Keep in good health
- If the insurance company wants you to do a medical, do it. This can save $.
Reach out to us if you'd like us to review your insurance situation.