How To Find The Best Rates On Life Insurance In Oregon
Are you a gambler, or are you the kind of person who prefers more of a sure thing? The answer to that could determine what kind of life insurance you will buy and how much you will be paying in premiums for it every month. If you like to gamble you might want to consider buying term life insurance. A term life insurance policy is only good for a specified number of years and then the policy lapses, requiring you to purchase a new policy at the rates then in effect for your age group. With a whole life policy, on the other hand, you buy a policy at a set monthly premium and you continue paying that premium for the rest of your life and you never have to worry about the policy lapsing unless you fail to make your premium payments. The gamble comes in due to the fact that term insurance premiums have been dropping in recent years. One reason for this has been the growing number of people buying term policies and the resultant price decrease that naturally occurs with increased marketplace volume.
Some people are gambling that the decrease will continue and that when their term policy comes up for renewal the new premium they will pay will be low enough to make their term policy comparable in cost to a long-term flat-rate whole life policy. But whichever type of life insurance you settle on, your goal is still to find the best rate on life insurance in Oregon – and there are several tips and tricks to help you achieve your goal. Start by doing your homework and comparison shop on the internet. You will be amazed at the difference in price for basically the same policy from one company to another. Once you choose a policy consider paying your premium by the year rather than by the month.
When paying a year at a time you should get a fairly substantial discount. If you smoke, stop. If you are overweight, start a diet and exercise program. Non-smokers and health-conscious individuals get a substantial break on their life insurance cost. If you already have a life insurance policy and have had it for a few years it’s time to take another look at it. You may be surprised at the amount of money you could save either by renegotiating your current policy or by cashing in the old policy and buying a new one. Also, work hard to keep your credit rating the best it can be. Surprisingly, many companies give a rate-break to policy-holders with an excellent credit history. As you can see, you don’t have to take the first life insurance policy that’s offered to you – there are several things you can do to find the best rates on life insurance in Oregon, and it’s simply up to you to take advantage of them.