5 Life Insurance Hacks You Should Know

​Do you frequently shop for life insurance? If yes, then you probably already know the tricks that will help you save on expenses. But many of us only buy insurance once or twice in our lives. Because it’s not something people do often most shoppers are never aware of the mistakes they made along the way.
 
Here are five helpful shopping tips that can help lower your insurance rates.

​Look for an independent agent to help you.
 
Shopping online for life insurance might not be a good option for you if you aren’t in perfect health. If this is the case, then you’ll surely be getting a higher premium. Thus, you’d want to buy from an insurer that is lenient with your health condition.
 
Independent agents like us will shop around to find those insurers for you. They’ll give you the best coverage available to you at the most reasonable price.
 
Determine if buying more policies would qualify you for discounts.
 
There are a lot of things you can buy in bulk that could earn you a discount. Who’s to say that won’t apply when buying insurance? Insurers offer discounts if you buy multiple policies from them. So don’t hesitate to ask your agents about this feature.
 
Add chronic illness riders for free.
 
A rider is a way for consumers to add coverage to their life insurance policy. While most riders aren’t worth the price, a chronic illness rider is offered by some insurers for free. However, it is only limited to those who have permanent life insurance.
 
With a chronic illness rider, you’ll be able to gain early access to your death benefits if you suffer from a chronic disease.  While it usually doesn’t add extra cost to your policy, it lets you withdraw from your benefit while you’re still alive. The remainder of it will be left to your beneficiaries.
 
Ladder your policies according to your financial obligations.
 
If you want term life insurance, you might want a policy that provides coverage for your longest financial obligation.  For instance, if you want to cover your mortgage that lasts another 20 years, you ought to buy a 25-year term life policy.
 
What if your major financial obligations end at varying times over the years? Rather than purchasing a very large policy to cover everything, buy multiple policies of varying lengths instead. This strategy is called laddering. Each policy you purchase would reflect the amount needed to pay off a particular obligation.
 
Attach a check to your insurance application.
 
You don’t have to wait until your insurance policy is issued to be covered. Get temporary coverage by sending you first month’s premium with your application. Doing so would ensure that your beneficiaries will be protected while you wait for the application process to finish.
 
Here at Roper Insurance Services, we want to provide you with the best insurance products and services. We work with the best life insurance carriers to provide you with the right coverage for a reasonable price. Call us at (828) 697-6709 or visit us at our office today and ask for a quote.