Term vs. whole: A term-life policy, which provides protection for a
specific number of years, is generally the best option for most
Americans between the ages of 20 and 50. Whole life insurance is
a good choice for wealthier individuals and those over 50. But for
the younger more budget-conscious crowd, term is generally the
best bet. To ensure you get the right coverage at the best price,
however, do your research and
compare rates before deciding on
a plan.
Health & life: By simply getting healthier, you can improve your risk
class and pay a lower premium on your life insurance. Consider
this: For $250,000 of coverage for 20 years, a fit 30-year-old man
will pay approximately $161 to $192 a year, while a 30-year-old
man who's overweight and smokes could pay $440 to $573.
Resolve to get healthy this year. You'll feel better, live longer,
and
pay less for life insurance.
Work & life: Many people think that if they have life insurance
through their employer, they'll remain covered if they take another
job or get laid off. Most often, however, group life insurance
policies aren't portable, meaning you can't take it with you when
you go.
Choose an individual policy that meets your specific needs
and you'll be covered no matter where you go or what you do.