Term Life Insurance - How to Pay Far Less by Buying More Coverage (Literally)

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Do you know that there is a way to get your term life insurance policy for a whole lot less by actually getting more coverage? Do you think I am laying it on a little too thick? Read on to find out...

When you buy coverage, you're charged per $1,000 of coverage. However, its NOT a fixed amount all the way through. That is, depending on how big your coverage amount is, the price will be lowered. Let me explain this with an example...

A company might charge $1.25 for each $ 1,000 to cover amounts from $ 100K and $ 299K. It could, however, $ 1.05 for each $ 1,000 fee for amounts between $ 300k and $ 499k and $ 0.92 for amounts between 500 thousand dollars and $ 1 million.

In short, you pay less for every $ 1,000 of coverage, if you buy more - but this is not the point I'm driving. Here's my number ...

The purchase of a limit of $ 295K (in this instance) are placed on your cost to $ 1.25 for each $ 1,000 of coverage. However, purchase of $ 300K will cover your costs of $ 1.05 for$1,000 of coverage. Let do the math...

$295k/1000 x $1.25 = $368.75

$300k/1000 x $1.05 = $315

Savings made $53.75 with an extra coverage amount of $5k.

Yes, the actually figures will certainly differ with different insurance companies. But I hope you've got the point here: At a certain point, you'll actually pay a lot less if you can increase your coverage amount into the next price range.

And, while you do this, don't forget that the difference in pricing with different term life insurance providers makes it imperative that you take some time out to get a wide range of quotes.

If you do this right, you'll save a lot by getting a company that favors your profile and getting the right coverage amount to maximize your savings -- All while enjoying superior coverage.

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