Wheeling, IL (PressExposure) January 06, 2011 -- AccuQuote, one of the country’s largest and most respected independent term life insurance quoting and brokerage firms, offers simple ways to cut back on life insurance costs during expensive holiday shopping months.

The cost of holiday gifts, party favors and seasonal necessities can be a shock to any consumer’s wallet. For that reason, it is important to find ways to save on everything from wish list items to standard living expenses. For instance, one of life’s most important expenses – life insurance, can be reviewed to determine if there is a way to save on the premium.

“Some people choose to eliminate monthly or annual bills they deem unnecessary during the holiday season to save some cash, but life insurance shouldn’t be one of them,” says Byron Udell, founder and CEO of AccuQuote. “That’s why we’ve come up with simple ways to save money on your life insurance and still keep your family protected during the holidays.”

According to AccuQuote, consumers seeking ways to save on life insurance costs this holiday season should consider the following rules of thumb:

• Young and healthy equals less expensive – Life insurance rates are dramatically cheaper for individuals who are young and in good overall health. “Lock in as much life insurance protection as you can while you’re young and healthy because the longer you wait, the higher your term life rate will be,” says Udell. “The rate you qualify for now will remain level throughout the life of the policy.”

• Half birthdays count – Age affects a person’s life insurance rate. But what most people don’t know is that many life insurance companies determine one’s age six months before their actual birthday. “That six month rate increase could really affect the price you pay over the life of your policy,” says Udell. “To avoid that extra cost, either shop around for a company that charges based on actual age versus upcoming age or apply for life insurance as soon as you realize your half birthday is approaching.”

• Compare rates of different coverage amounts and term lengths – Some life insurance companies offer price breaks at certain coverage amounts and term lengths. “Compare prices if you need to increase the face amount. You could actually pay the same amount or sometimes less money for more coverage,” says Udell. “It is useful to use a multi-carrier life insurance quoting and brokerage firm, like AccuQuote, to compare the rates and features of different policies.

• Risky activities cost more – People who participate in high-risk activities, such as hang-gliding, skydiving, mountain climbing, scuba diving, and racing will likely be charged a higher rate for their life insurance. However, some life insurance companies will give consumers a break who are professionals or certified in their sport. “Be sure to speak with a licensed life insurance agent who can help you understand the underwriting criteria of multiple life insurance companies,” says Udell. “A licensed agent will match you with a company that meets your life insurance needs and budget.”

• Group policies offer convenience, not always affordability – Purchasing life insurance through work is a convenient way to protect one’s family, but group polices are not always the most affordable option. Group rates are often based on a comprehensive profile of all employees. Those that are in poor health drive up rates for those in excellent health. “If your employer offers free coverage, you should take it,” says Udell. “But is usually doesn’t make sense to purchase life insurance through an employer unless you have a severe medical condition. Instead, purchase an individually underwritten term policy. Rates a currently near record lows and in case you ever lose your job, you won’t have to worry about losing your life insurance benefits.”

About AccuQuote

About AccuQuote
AccuQuote helps consumers find the best values in term life insurance by combining instant life insurance quotes online with the personal service of unbiased, licensed life insurance professionals who will answer questions, identify important issues and make meaningful recommendations. The company offers consumers an extensive selection of life insurance options, including term life, whole life, universal life, long-term care, disability and selected annuities. AccuQuote.com houses many handy life insurance tools, including a term life insurance calculator to help consumers determine their life insurance needs, a glossary that explains industry terminology, a collection of articles and press releases that cover life insurance and personal finance basics and a blog that provides opportunities for discussion on various insurance and financial topics. For additional information or to get free quotes for low cost life insurance, call AccuQuote at 800-442-9899.

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