Reader’s Question

Someone sold me cheap life insurance in Fayette, Kentucky and I kind of like it because it’s very affordable. Is there any other way that I can lower the premium for a term life insurance?

Frank

Fayette, KY

Nice question, Frank.

In term life insurance, there are three things to consider: the face amount, the period and the premiums. Products of term life insurance may vary but it will be within these three parameters. In other words, you can pay lower premiums if you, for instance, get lower face amount. A 250,000 dollar face amount will require lower premiums than with face amount of 500,000 dollars. Similarly, a term of one year may require lower premium than on five year term. But then again, it depends on the face amount of the life insurance.

The sales agent in Fayette, Kentucky most likely sold you only one product because they are under quota but actually a concerned sales agent will give you the right term life insurance for your needs and according to your financial capacity. What I’m saying is you can actually tell the agent offering you term life insurance what your financial capacity is ask if there is cheaper term life insurance with the same attractive policy. If the agent fails to assist you in this matter, better find another agent until you derive at the term life insurance that you need. Or better yet, try to search for more quotes to get the cheapest term life insurance. Five term life insurance quotes may suffice. Just remember to stick with the three major components of the term life insurance and get the best possible combination that matches your financial capacity.

Tags: cheap life insurance, term life insurance