Buying your life insurance today instead of tomorrow is one way to get cheap life insurance in New Hampshire or anywhere else.
This is a little bit of an exaggeration, but it's true that your life insurance premiums will go up with each passing birthday. The obvious reason is that the older you are when you buy life insurance, the less time you will have to pay premiums and the more it will cost the insurance company when you die.
So let's say you've decided you do want to buy life insurance before your next birthday. The question of what kind of life insurance policy you want still stands. Everything? Or Term Life?
Term life may look like the best deal at first. Why? Because at first, the monthly premium for a term life policy will be less than the monthly premium for a whole life policy of the same size. But the start-premium is not everything.
Keep in mind that a term life policy is called a "term" policy because it only lasts for a certain amount of time. A term life policy ends when the term of the policy runs out. If you want to keep your life insurance coverage, you must buy a new policy with a monthly premium that is much higher than the one you had before.
A whole life policy, on the other hand, costs a little more each month but lasts your whole life. The premium you pay when you buy the policy is the same premium you pay until the day you die. Also, unlike a term policy, a whole life policy builds up cash value over time, which you can use to borrow money without ever having to pay it back if you choose.
Whether you buy a term policy or a whole life policy, there are things you can do to make sure your monthly payments are as low as possible.
One example is smoking. Life insurance costs a lot less for people who don't smoke than for people who do. And don't think you can lie about not smoking to get a better rate. If smoking was a major cause of your death and you said you didn't smoke, your life insurance policy may not pay out at all, or it may pay out a lot less.
If you are overweight, you will also pay more for your life insurance. The premiums of almost all life insurance policies are partly based on your Body Mass Index, or BMI. When your index goes down, your monthly payment goes down, too. Even if you only lose a little bit of weight, you might move into a better category and get lower monthly payments for years to come.
Driving a fast car, doing dangerous or extreme sports, or working in a dangerous job are all things that can make your monthly life insurance premiums go up.
Once you've done everything you can to keep your premium costs low, it's time to go online and find three websites that let you compare life insurance policies from different companies side by side.
Fill out the forms on at least three different sites. This way, you can be more sure that you are comparing all of the life insurance companies in New Hampshire, and you can sleep well at night knowing that you did everything right to get cheap life insurance in New Hampshire.
