WEST HILLS, Calif., June 14, 2010 (GLOBE NEWSWIRE) -- In 2003, AMLIFE perfected an obligation-free way in which our clients can obtain individually underwritten term life insurance by phone secured from a number of highly-rated national insurance companies. AMLIFE offers you new ways to save money on life insurance. The cost you pay will depend on your age, health and your habits. Policy premiums are very high if you smoke, have existing health problems or enjoy skydiving. Here are some tips:
- Consider term life insurance; it is one of the least expensive forms of life insurance, as premiums for whole and universal life can be 5 to 10 times higher depending on the kind of level term being compared.
- Often times more insurance costs less. Therefore, it is highly recommended to buy in bulk. Top insurance carriers charge less per thousand on the higher face amount brackets. For example, if you're going to buy $240,000 of coverage, you might as well buy $250,000, as it will cost you less per year.
- To obtain the most competitive policy out in the market, it is important to understanding insurance carriers and their different underwriting guidelines. For example, if you are a smoker or have prior medical history and/or current health conditions, you may be paying 15-20% more on life insurance than you should be; let AMLIFE suggest the right company for you.
- You may also save up to 50% if you're willing to stop smoking and lose weight. The rewards for getting back down to the right weight for your height can be just as good.
- Improve your overall health condition. If you have a current health condition, make sure that your blood pressure, cholesterol and/or diabetes is under control to normal levels with medication. A documented improvement of these conditions shows carriers, via your medical records, that you are serious about your health.
- Continue to review your policy. It's possible to save money on your existing policy. If you're paying higher premiums because of a specific health condition, ask an AMLIFE representative if you can apply for rate reconsideration. This is possible if your health has improved and you've sustained better health for at least a year.
- Buy now! It's amazing how much money you save if you buy today versus many years down the road.
- Avoid additional charges by paying your insurance bill annually. Some insurers also charge less if they can transfer the premium payments directly from your checking account via EFT.
Ask an AMLIFE representative about Return of Premium (ROP) term life insurance. This is a revolutionary product that combines the advantages of traditional term life insurance such as affordable, guaranteed level-premium periods (15, 20 or 30 years), with a return of premium feature. At the end of the level-premium period, 100% of the premiums paid will be returned to you tax free.