Money saved is money earned
A well-known adage says: “Money saved is money earned”. Saving money by investing in life insurance has become a rage these days amongst all sections of society. According to a recent media poll, most senior citizens like investing in life insurance to save money from being wasted. In this age of information technology, the consumer has emerged as the uncrowned king of every business activity.
With a little bit of precision and a proper market survey, the best deal will invariably land in your lap. This new consumerist economy forced the life insurance corporations to emerge in their new avatars. From being just a life insurance corporation it has now become money money-saving forum catering to the needs of its aggressive consumers.
Ways to save money when investing in life insurance:
- - Always go for financially sound companies when investing in life insurance-Almost all companies these days sell life insurance. So, it is better to narrow down your search by going for only companies having good reputations in the market. Do not get lured by companies offering low premium rates. They may turn out to be a bad choice in the long run.
- - Determine the right rate class- Once you have decided which companies you want to go for determine the rate class that suits you best. Most of the life insurance companies sell different price classes.
- - Do a small market survey research to decide the standard premium rate- A small market research is crucial in determining the standard premium rates charged by life insurance corporations.
- - Look into group insurance-Employer sponsored life insurance is perhaps the safest bet. It is advisable to go for it even if it requires you to shell out a few bucks from your pocket. Employers of reputed corporations generally provide a subsidy on group insurance costs making it less expensive than individual life insurance. Make a comparison of group and individual rates while taking into account certain factors like health status, age, etc.
- - Paying premiums at small intervals is not a good money-saving tactic-Paying your premiums at small intervals may cost you much more than paying once every year or once every half-year.
- - Get a good rate for yourself- Finding yourself a good rate may be a daunting task for you as many companies essentially offer different rates for the same policy.
- -It’s advisable to look for renewal guarantees-Always go for renewal guarantees. So, that after the current renewal ends you can start a new term and in the process save money.
conclusion
According to a recent media poll, most senior citizens like investing in life insurance to save money from being wasted.
With a little bit of precision and a proper market survey, the best deal will invariably land in your lap.
From being just a life insurance corporation it has now become money money-saving forum catering to the needs of its aggressive consumers.
Make a comparison of group and individual rates while taking into account certain factors like health status, age, etc.
So, that after the current renewal ends you can start a new term and in the process save money.
Comments
Post a Comment