Why Should You Look for Cheaper Group Life Insurance?
Everyone loves a deal, especially when it comes to group life insurance. But is this even possible these days? And more to the point, can you actually find worthwhile life insurance for a nominal charge? These questions are popping up in more conversations than ever these days, due to longer life spans, better medicine, and bigger families. But you do owe it to yourself to look for cheaper group life insurance. Let Hodges & Company Insurance help you shop around. Here’s a few things that help.
Group life insurance shouldn’t cost a lot if you’re already healthy and you have a history of being healthy. Since insurance companies want to save as much money as they can over the course of your policy, they offer lower rates to those who have a lower risk of dying early. True, you might need to have a complete physical and blood test in order to prove this to the insurance company, but if you’ve had a clean slate of health for most of your lifetime, make sure to point this out when you are shopping around. In addition, if you are not overweight or a smoker, your rates should also come down.
You Can Buy Multiple Policies
If you start a hunt for cheaper group life insurance, not only can you buy more insurance for yourself, but you can provide coverage for more employees in your business. This is a great way to lure in talent and long term employees. When you can offer life insurance at a discount rate, everyone is happy. In addition, buying more insurance for yourself can ensure that each of your children or your spouse gets some sort of monetary inheritance after you die. These funds can then help pay for funeral expenses, estate taxes and any outstanding debts you might have as well.
You’ll Save Money
Of course, the most obvious reason for finding cheaper group insurance is to save yourself some money. You can then take that extra money and put it into your retirement accounts or other savings accounts to help provide for your family long into the future. While it might not seem like a lot of money to save each month, in relation to more expensive life insurance policies, it adds up when you’re healthy and you’re sticking around for a long time. The earlier you start paying for your policy, the better, too. Since you tend to become sicker as you get older, you want to lock in a low rate now to make sure you can pay as little as possible.
Group life insurance makes sense for individual subscribers as well as business owners. Though no one likes to think about the idea of death, preparing for the inevitable just makes sense for you and for your family. Take some time to look at several different life insurance companies before deciding on one. You will also want to take some time to read over your policy before you sign up to make sure you get the coverage you desire. Hodges & Company Insurance will shop the market to find you the best benefits plan to meet your needs, contact them today, 1.866.993.9710 or 713.993.9710.