How to save money buying Life Insurance

The best way to save money on Life Insurance is to buy Term Life Insurance and shop around.

Term Life Insurance, compared with Permanent Life Insurance, is much cheaper. Most financial advisors recommend it because it offers the greatest protection to your family for the lowest cost.

Shopping around is important because different Life Insurance companies often have different prices for your Life Insurance “fingerprint.” Your “fingerprint” is made up of your age, gender, health, family health history and your lifestyle.

And your price could vary hundreds of dollars a year from one company to another.
The only problem is over 1,000 companies sell Life Insurance. And shopping even a group of them could eat up a lot of time.

Fortunately, there are independent companies that comparison shop for you. To make sure you get the most accurate quotes when talking to an agent:

· Make sure the agent asks detailed questions about your health, family health history,
occupation and hobbies.
· Ask why the agent recommends a certain company to you. What are your other choices?
· Ask what tools the agent used to arrive at your quotes.

The pioneer in impartial “comparison shopping” for Term Life Insurance — service and by far the largest — is SelectQuote Insurance Services. SelectQuote has nearly 100 experienced, licensed agents and will research a wide range of highly rated Term Life Insurance companies for your best rates at no cost or obligation.

SelectQuote has exclusive videos of Suze Orman offering impartial advice on buying Life Insurance.

Why Life Insurance Quotes can be misleading

Chances are you’ve gotten conflicting quotes if you’ve shopped several online companies for Term Life Insurance. The varying estimates you receive are usually a result of how many — or how few — questions you answered to get your quotes. And which Term Life Companies the quoting firm represents.

The following facts can save you time, money, and often, spare you from disappointment:

- No matter what you are quoted, your final price will be determined by the Insurance company you choose. And this is done only after all relevant records and the results of your medical exam have been reviewed.

- Answering a handful of questions rarely leads to accurate quotes. Your price is influenced by dozens of factors including your health, your family health history, your occupation and even your hobbies.

- The more details a Term Life Insurance Agent knows about you up front, the more accurate your quote will be.

- Different Term Life Companies specialize in different “risks.” For example, some companies offer more reasonable rates for smokers or for people who take medication to control cholesterol or blood pressure. You want to make sure your quoting company offers a good choice of Term Life Companies for your particular needs.

SelectQuote has exclusive videos of Suze Orman offering impartial advice on buying Life Insurance.