How to Pay Less for Life and Auto Insurance
Know What You Need and How to Shop
Gregory Karp
Life Insurance: It’s Your Money and Your Life
Shopping around for better prices on life insurance has always been a good idea, but plummeting prices over the past decade have made it imperative for spending smart.
If you haven’t looked at rates for term life insurance recently, you’re probably wasting big money. It’s like continuing to pay 1998 prices for a DVD player that today costs just $50.
Life insurance premiums are less than half what they were in the mid-1990s, as shown in Table 1. Today, a 40-year-old nonsmoking man rated in standard health pays $685 a year less than a similar man in 1994; that’s nearly $7,000 difference over a decade.
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