is the simplest and most effective type of insurance. Cash value insurance truly makes sense for those who are wealthy and over the age of 50. A cash value plan may be tempting, but it won't be as effective.
Save money on your policy by cleaning up your bad habits and improving your health. Your policy will be priced based upon your risk class, which is determined by many different health factors. Losing excess weight, quitting smoking and getting your cholesterol in check, will reduce your premiums.
Make sure and only by life insurance from companies that are in a strong financial position. Rating agencies like Standard & Poor's, Moody's and others give ratings to insurance companies. Do not work with any company that does not have an "A" rating from these agencies to protect your investments.
When choosing a life insurance policy, look into the quality of the company you choose. The company that holds your policy should be able to stand behind it. It is good to know if the company that holds your policy will stay around to service the policy if need be and eventually be around to pay the benefits of the death.
It is crucial that you ask if a potential life insurance policy covers accidental death, as some insurance companies will not cover this. Anything can happen to you and want you to be assured that your family will be able to pay for your final expenses. If you are unsure, ask your insurance company.
Work on improving your health before applying for a life insurance policy. Poor health equates to higher health risks and higher life insurance premiums. To get the lowest premiums, stop smoking, reduce your weight, work more exercise into your lifestyle and eat healthier meals. Your body and your wallet will thank you.
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