Minneapolis, Minn. (Vocus) July 9, 2009
The current economic climate is worrisome to many families. Often the first major expense to be cut when reevaluating the family budget are various types of insurance, such as medical insurance, car insurance, and most commonly - life insurance. Insure-Net.com urges families to look at changing coverage to make it more affordable rather than dropping car, life or medical insurance all together.
Life insurance can often be confusing, but with the right tools, finding affordable life insurance quotes can be made easy. Insure-Net.com offers a quick and easy way to find life insurance quotes and offers information so people can better understand plans, with articles such as the life insurance primer.
The fastest and simplest way to save on insurance is to shop around to compare plans and rates. When considering life insurance, Insure-Net offers these money saving tips to bring costs down and make it more affordable in a tight budget.
First, consider switching to modal payments. Modal payments are a quick and easy change. If paying life insurance rates annually, families can simply call their insurance agent and switch their payment schedule to semi-annually, quarterly, or even monthly. This change does not take sifting through policies and making big decisions. Plus, having a smaller amount to pay more often rather than one lump sum is usually easier to manage.
While the insurance agent is on the phone, ask about reducing the term length. Typically, the longer the term the better; however, when money is tight it is better than dropping coverage all together. Usually a shorter term will mean lower premiums but will maintain the same death benefit protection. Be sure to get qualified for a new plan and note whether health has changed.
In addition to reducing the term length on a life insurance policy, ask about reducing the death benefit. While it is not always the best solution, it will make the plan more affordable and is better than dropping coverage completely. This should be the first item to reevaluate once the family financial situation improves to ensure the family is adequately protected.
Insure-Net.com is committed to helping families find the most complete insurance coverage at the lowest possible rate. Insurance shoppers can save by obtaining and comparing car, home, medical and life insurance quotes from our nationwide network of insurance agents. For further savings, we offer articles with money saving tips on all types of insurance, such as car, home, life and medical insurance.
Contact: Marlene Brown
Public Relations Specialist