Can Life Insurance Be Affordable?

Can Life Insurance Be Affordable?
Unfortunately, many people fail to give their loved ones the benefits of a life insurance policy because they wrongly assume that it would be unaffordable to do so. In reality, there are many policies that are quite affordable, and there are ways to save and to budget wisely to make life insurance a practical expense.
What Determines Your Life Insurance Premium?
Life insurance premiums can vary widely, from just tens of dollars per month to hundreds of dollars. The cost depends, first of all, on the nature of the policy you choose to buy.

For example, term life is very affordable, while whole life policies cost more (and deliver more.) If you only need coverage for a specific number of years, a term life policy can give your family that extra security without busting your budget.

How much coverage you need, how old you are when you begin, where you live, what occupation you work in, and a host of other factors can raise or lower premiums. And of course, comparing rates will pay off since insurers may differ significantly in what they charge for the exact same type of policy.

It’s Easier Than You Think To Buy Life Insurance!
You may think your budget can’t handle life insurance right now – but waiting longer could end up causing you to pay higher premiums because younger and healthier policyholders pay less.

And it all goes off how you qualify when you first sign up – after that, your premiums can’t go up or your benefit be reduced for the length of your term, so long as you continue to pay your premiums on time.

Most insurers can sign you up fast. You may not even have to undergo a physical but just answer a few basic health questions. On the other hand, a health screening and underwriting process only takes a week or two to complete, is painless, and usually gets you slightly lower rates.

One more thing. How hard would it be to fit $25 or $50 more into your monthly budget? Or even if you are buying whole life and will have premiums over $100 – there is almost always non essential spending that could be reduced to make room for life insurance. With a little creativity and determination, even those on tight budgets can often find ways to pay for high-quality life insurance policies without significantly affecting their lifestyle.

Talk To An Insurance Agent Today!
Perhaps, you are sure you want to buy a life insurance policy but you aren’t sure which type of policy you want, what’s the best balance of affordability and benefits, or how to structure your plan. That’s what insurance agents are for!

A good agent or broker can explain unfamiliar insurance terms to you, walk you through the details of how term life, whole life, and universal life work, and show you how much coverage you can buy for a particular premium amount.

If you are interested in protecting your family or another beneficiary when you pass on, so they won’t fall into undue financial hardship, or have other reasons for wanting a life insurance policy, contact Flagler County Insurance Agency today! We have helped many others in Central Florida and beyond custom-build a policy that fits both their needs and their budget.