Falling Prices
Something that's actually become less expensive over the years is term life insurance. According to a Wall Street Journal story on 2/21, longer life spans are driving the prices for such policies down, and the growing popularity of level-premium policies is making it easier to compare costs among providers. The article pointed out that if you have a term policy in which the premium rises each year you may be able to save by replacing it with a level-premium policy. And even if you have a level-premium policy, you may be able to save. At the very least, you may be able to extend your coverage for about the same annual premium you're paying now.
Matt's View
You can get quotes via QuickQuote.com . To get a firm price you'll need a health evaluation, but an initial check on the Internet will give you a feel for whether you may be able to improve on your current policy. Two words of caution: Be sure not to drop your current coverage before getting approved for a new policy, and stick with companies rated highly by evaluator A.M. Best. Ratings are available from the above web site.
This article filed in: Insurance
Managing Money by The Book
- "Therefore everyone who hears these words of mine and puts them into practice is like a wise man who built his house on the rock. The rain came down, the streams rose, and the winds blew and beat against that house; yet it did not fall, because it had its foundation on the rock." - Matthew 7:24-25
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