Life insurance is one of the most important investments that you’ll ever make for your family. It’s the best way to ensure that they have the protection that they need, regardless of what happens to you. Finding the perfect life insurance policy can be a long and confusing process. There are dozens of factors that you have to consider.
At Longevity Brokers, we are proud to offer a variety of quality insurance products. Everything from homeowner’s insurance to auto insurance. Not only do we provide insurance products, but we also help our clients make the best decisions for their insurance needs.
Group Life Insurance
Today, there are thousands and thousands of companies that have started offering their employees the opportunity to be a part of life insurance policy. Every company has different life insurance benefits that they are willing to provide for their employees. Some companies will pay the premiums for you, and give you a decent sized insurance plan to protect your family. Other companies will pay a portion of the premiums or pay for a smaller life insurance plan around $10,000.
There are several benefits to a group life insurance policy. The first is that the steps to get coverage are much simpler than an individual plan. With a group plan, you won’t be required to take a medical exam before getting coverage. Additionally, you won’t be required to answer as many questions about your health or any pre-existing conditions that you have. For anyone that is in poor health or has blemishes on their medical record, group life insurance plans are a great way to get coverage without breaking your bank every month.
Individual or Group Life Insurance – Which is Right for you?
Each person and company is different, which means that every situation is going to be unique. There are dozens of different factors that go into deciding if an individual policy or a group plan is going to be better for you and your loved ones.
The first factor that you’ll need to look at is how much coverage the group life insurance plan is going to give you and if it will be enough if something tragic were to happen to you. Make sure that the plan offered by your employer is going to meet your life insurance needs. There are several factors that go into calculating your life insurance needs, everything from your mortgage to your monthly paycheck. Not having enough life insurance could leave your loved ones with left over expenses and no money to pay off those bills.
The next thing that you should look at is, what’s going to happen to that life insurance policy if you were to leave your job or get fired. Some companies will allow you to take over the premiums, while other won’t. The older that you are, the more expensive your life insurance plan is going to be, which means that if you lose coverage in the future, when you reapply, your coverage is going to be much more expensive.
One of the main reasons that most applicants don’t get life insurance protection is because they assume that it’s going to be too expensive to fit in the budget. This couldn’t be further from the truth. There are several ways that you can do to ensure that you get the most affordable life insurance policy.
Getting Cheap Life Insurance
If you want to get affordable life insurance, there are several lifestyle changes that you can make to get the best rates possible, either through a group plan, or through a private insurance plan.
After you complete the initial paperwork, the insurance company is going to want to know what kind of health you’re in before they give you life insurance. The better your health, the less money you’ll pay every month. If you want to save money, you’ll need to improve your health. Starting a diet and getting regular exercise can work wonders on your health and keep more money in your pockets.
Additionally, if you want to save money, it’s time to eliminate any tobacco that you currently use. Being a smoker drastically increases your risk of having severe health complications later in life, which means you’re more of a risk to the insurance company. If you want to get affordable life insurance, it’s time to eliminate the cigarettes. Anyone that is listed as a smoker on their life insurance application is going to pay drastically more than a non-smoker. If fact, smokers are going to pay twice as much as their coverage than someone who doesn’t smoke.
The last thing that you should do is compare rates from dozens of companies before you decide which one is going to work best for you and your family. Each company is different, and they will all give you various rates for your insurance plan. You could save hundreds of dollars simply by comparing quotes.
Longevity Brokers Life Insurance
At Longevity Brokers, we understand the importance of getting a quality and affordable life insurance plan. We know that finding the perfect plan can be a confusing and frustrating process, but we are here to help. If you have any questions about any of the quality products that we offer, please contact one of our agents today. We would be happy to answer those questions and ensure that you’ve got the best coverage available to you. You can use our contact form or call us at (720) 209-4598.
Not having life insurance is one of the worst things that you can do for your loved ones. Don’t wait any longer to get the insurance protection that they deserve, either through a group plan or through an individual insurance policy.