Do You Really Need Life Insurance?
If there is someone who would suffer economic hardship if you died, then the answer is yes... you need life insurance!   Whatsmore, some forms of life insurance can do more than simply cover your family, they can provide woderful retirement options as well!

Tips On How To Reduce Your Insurance Costs

• Consider the total cost of your policy
• Quit smoking now!
• Standard vs. Preferred Risk
• First-to-die policies
• Consolidating policies
• Shop for a better deal now

Consider The Total Cost Of Your Policy:  Some policies appear to cost more, but may, in fact, be cheaper when you look at the total cost of the policy. For example, annual renewable policies increase your premiums every year and thus may appear to be more expensive than level term policies where the premiums never increase (although the initial premiums for a level term policy will be higher). But, in fact, level premium policies may involve higher costs over the policy's full term, and become particularly expensive when you try to renew your policy at the end of the term.

Quit Smoking Now!: The facts prove it: Tobacco users are twice as likely to die as non-tobacco users while they are insured. Insurance companies take this into account when they set their premium and cash benefits levels. You can save from 20% to 30% on premiums by quitting smoking.  (*American Journal of Public Health, September 1995, Vol. 85 No. 9)

Standard Vs. Preferred Risk: Many insurance companies offer lower, preferred rates to people who appear to be in better health and live a lifestyle that promotes a healthy, accident-free life. If you're in this category, you may be able to get a much better deal on your life insurance. See "Understanding Standard and Preferred Risks" for more information.

First-To-Die Policies: First-to-die permanent life insurance policies pay cash benefits regardless of which spouse dies first. Covering both spouses with one policy can be cheaper than buying two policies.

Consolidating Policies:  If you have a number of small life insurance policies, you can save money by consolidating your policies into one larger policy that offers the same coverage.

Shop For A Better Deal Now:  Are you getting the best deal on your life insurance? The only way to be sure is to shop around. But it is important that you do your shopping now while you are in good health, insurable and can qualify for a good rate. Remember, the longer you wait, the older you will be and the higher your rates may be. So, it's advisable to lock in your best rate now and stick with it!