How can I conserve costs?

Here are some ways you can save money when purchasing the life insurance that's right for you.

• Don't buy insurance if you don't need it, and don't buy more insurance than you actually need to provide for your loved ones. 
• Shop for a competitively-priced policy while you are in good health. Don't smoke. Take care of yourself by exercising regularly and maintaining a moderate weight.
• If you buy term insurance, look for guaranteed renewable policies. That way you won't have to shop for a new policy (with higher premiums) when you're older.
• Buy additional riders, which are optional forms of coverage, only if you need them.
• Shop around and compare prices and coverage. There are over 2,000 companies selling life insurance policies. Get at least three quotes on comparable policies, and ask questions about the policy's renewal and withdrawal provisions.
• Participate in your employer's sponsored life insurance program, even if you have to contribute or pay for it. This form of life insurance coverage, known as group insurance, pools good, average and poor risks to offer a benefit that can be less expensive than comparable plans offered outside of work. You may be able to obtain coverage up to a certain level without providing evidence of good health, which is a key advantage. Additionally, group insurance plans often provide for continued coverage during periods of disability. Many plans are administered through payroll deduction, a very convenient way to pay for coverage. And finally, many plans allow you to continue your coverage even after you leave employment by continuing payment of premiums or converting coverage to an individual policy.

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