We get asked quite often for tips on how to reduce the costs of life insurance so we decided to put this together... hopefully it helps:
Make a Lifestyle Change - Nothing will decrease your policy bill like a lifestyle change! Rates are lower for people who don't take as many risks... so if you want to reduce rates, try cutting back on the sky diving and smoking.
Only Buy What You Need - Consider taking a little time to determine whether your policy currently meets your needs. Although you don't want to buy too little insurance, buying more than you need can be unnecessarily expensive.
Clean Up Your Credit - People with poor credit often get denied life insurance or are put into special programs with high premiums. Clean up your credit and go back to your agent to ask for a review of your credit to lower your rates.
Consider a Rider Policy - Instead of paying large premiums by changing around your policy to include lots of extensions, consider adding on a rider policy to meet a few additional needs. This may be more cost effective than going through the process of changing your entire policy and trying to rework it to fit all of your needs perfectly.
If you have questions regarding other ways to save money on your life insurance policy, feel free to contact us at any time.