Why break the bank to get life insurance? Here are some practical ways to get the coverage you need at a price you can afford.
Life insurance is one of the smartest financial safety nets you can have – but that doesn’t mean you need to overpay for it. At MiWayLife, we’re committed to offering personalised life insurance that doesn’t just ensure you have great coverage, but get to enjoy great value too.
Here are some practical ways to reduce your premiums without compromising on peace of mind.
Age and health are two of the biggest factors that influence your life insurance premium. The younger and healthier you are when you take out a policy, the lower your monthly premium is likely to be. Waiting until later in life could make cover significantly more expensive or limit your options.
Your lifestyle has a direct impact on how insurers assess your risk. Smokers, for example, tend to pay much higher premiums than non-smokers. Regular exercise, maintaining a healthy weight, and managing chronic conditions can also work in your favour. Staying proactive about your health can help ensure the best possible rate.
While it’s tempting to opt for the biggest payout possible, this also means paying a higher premium, so consider your actual needs. At MiWayLife, you get to choose your cover amount, so you can customise your cover to match your responsibilities. You can also lower your coverage amount at any time to reduce your premiums – and increase it again when you have the means.
Missing payments could mean losing your cover and having to restart the process, possibly at a higher premium. MiWayLife offers grace periods and multiple debit attempts to help keep your policy active, but staying on top of payments is important.
Administrative costs and broker fees can drive up premiums. By choosing a direct, digital-first insurer like MiWayLife, you’ll cut out the middleman and can avoid these unnecessary expenses. MiWayLife also gives you more bang for your buck. All of our 4-in-1 policies include comprehensive life insurance, a Terminal Illness Benefit and funeral cover for you that can be extended to your family – all for one monthly premium!
The Bottom Line
Affordable life insurance starts with smart decisions. By signing up early, living well, and choosing a flexible, direct insurer like MiWayLife, you can lock in long-term cover that fits your life – and your budget. Why not get a quick quote today and let us impress you with our affordable premiums?
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.
