Life insurance is an important part of everyone’s financial plan but considering the swift economical changes as well as its impact on your daily income and your daily expenses, it would be quite difficult to set aside some money for insurance premium payment. Without a good paying job, you might just overlooked having a life insurance. Luckily, numerous older insured successfully unveilled the secrets to reduce life insurance premiums and save 50% or even 100%.
Double Life Insurance Benefit without Increasing the Cost
Huge number of leading insurance companies areproviding products with advanced premium payment methods that can eventually double the death benefit of an insured at the same outlay, given that they qualify medically.
Consistently using Physician-Directed Medical Underwriting Approach
This generally achieves the best possible ratings from an insurance company, which eventually results to a lower outlay.The typical life insurance agent will submit their client’s application to at least two companies. Afterwards, they will sit back and hope for an ideal underwriting offer. Agents usually lack enough or real resources to create difference on the dynamic procedure or medically underwriting client’s risks.
Vast majority of these agents often give the responsibility of asking client’s medical records to the insurers themselves. Likewise, doctors tend to be afraid of possible lawsuits and so, they write down every health concern you have even if those are just unsubstantiated. Since doctors keep records of everything, even of suspected illnesses, insurers take this medical issues to rate clients higher premiums.
Given this circumstance, it will pay to look for a physician and ask them to thoroughly review your medical records before it goes to the hand of the insurer. In addition, if you are going to get your medical records reviewed, better go to a physician in the morning because you have enough rest and is usually in good condition in the morning.
Afterwards, go to at least 10 of the leading insurance companies that offers guaranteed low outlay policies. Remember that insurance companies are often willing and motivated to compete for client’s business. The more insurers you visit, the higher the possibility of lowering your rate.
Pay $0 for insurance premiums
Vast majority of high net-worth clients who have a tremendous loss on their income usually have lower need for the insurance they purchase. Some of them prefer to sell their own policy on Life Settlement Market instead of surrendering it to their insurers.
There are also few programs that are rarely offered but are really great. One of which is the Shared Death Benefit Program in which policyholders can keep the half of the death benefit for their loved ones without paying the premiums. The buyer will pay all the premiums for the future while the policyholder is still alive. When the insured dies, the buyer can already keep the other half of the death benefit.
There are lots of ways to reduce your premiums. You just need to have keen eyes for opportunities that can save you from life insurance cost. Purchase insurance without suffering from burden of premium payments.