When it comes to life insurance, your “discount” is your youth and your health – so buy it early!
Life insurance is a powerful tool to help you protect your family’s financial future. Still, in the same way we shop around to find a bank that will offer us the lowest fees, it’s only natural to want to know if we can get a discount on life insurance. Happily, if you’re young, healthy and looking to get a great deal on life insurance, you’re in a great place to get it at a very affordable price.
Good Health Is Your Greatest Discount
One of the most significant factors affecting your life insurance premiums is your health. Insurance companies assess your overall health and medical history when determining your rates. In short, the younger and healthier you are, the lower your premiums will be. Why? When you're young, fit and healthy, you represent a lower risk for insurance providers as you’re less likely to develop a chronic illness like diabetes or heart disease that could shorten your lifespan. As a result, they’ll be more inclined to offer you a policy with lower premiums. So, in essence, your "discount" on life insurance stems from your health.
Shop Around To Get The Best Premiums
While your health is a major factor in securing lower life insurance premiums, it's still important to shop around to find the best rates. As insurance companies have different underwriting guidelines and pricing structures, you’ll be offered differing cover amounts and premiums. This is why it’s a good idea to get several quotes from different insurance companies to find the most competitive rates without having to sacrifice adequate coverage.
In an effort to save, you might be tempted to opt for the lowest coverage amount to reduce your premiums, but it’s not always the best choice. Sure, it may save you money in the short term, but it can leave your loved ones financially vulnerable. To help you make a savvy decision, use our easy online life insurance calculator to get an idea of how much coverage you’d need.
The Bottom Line
Consider a 4-in1 policy from MiWayLife. It's a straightforward. affordable way to protect your family's financial future.
Did you know:
You can now take out life cover with us online in a few simple steps. No calls and no agents! Make sure to take care of those you love today by buying MiWayLife cover online.