Life insurance plays an important role in protecting your family’s future financial health. If you have yet to buy a policy because you’re concerned about the cost, it’s essential to know that coverage is more affordable than many people realize. Additionally, there are numerous steps you can take to secure an even lower rate. Here are a few tips for getting the best deal on premiums. 

How to Reduce Your Life Insurance Rates 

1. Bundle Your Policies

If you need other types of coverage aside from life, such as homeowners, auto, or boat, you may consider purchasing all your policies from the same provider. Most insurers offer a discount for bundling policies, which will help to reduce your rates on everything. 

2. Live a Healthier Lifestyle 

Your health is one of the biggest factors insurance companies will take into account when calculating your coverage costs. If you want to receive a better rate, you’ll need to show you live a healthy lifestyle. Generally, this will require you to stop smoking, limit how much alcohol you drink, and lose excess weight. Taking these actions can help prevent many medical conditions that cause premature death, so it’s certainly a win-win situation.

3. Buy Coverage Now  

Regardless of how healthy or young you may be, life insurance rates will continue to rise as you age. Thus, one of the most effective ways to save money is to buy coverage before you get any older. Putting it off will only increase the chances of you developing a health problem that results in higher premiums. 

4. Pay Premiums Annually

Many policyholders incorporate their life insurance premiums into a monthly budget. While this allows you to avoid spending a larger amount all at once, it will actually cost you more over time. If your insurer gives you the option to pay annually, you’ll usually be awarded a discount for doing so. 

Whether you’re shopping for life insurance for the first time or looking for a lower premium than you’re currently paying, the professionals at IGO Insurance can help. Located in Raleigh, NC, the agency has proudly been serving clients throughout the state for nearly 50 years. The agents will work closely with you to assess your coverage needs, compare rates and plans, and find all the discounts you qualify for. Call (919) 782-1560 to request a quote or visit them online to learn more about the different products they offer.