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I think most of us can agree that having personal insurance policies is a good thing.
Life insurance provides your family with financial stability in the event of your death.
Disability and critical illness insurance provides you and your family with financial stability if you are injured or diagnosed with a critical illness and are unable to work and earn an income.
Although each of these insurances costs a little money, they should have a place in your budget to protect your household finances. Plus, there are several ways to save money on these policies. One of those ways happens to be today’s financial advice!
Bundle your insurance policies.
Did you know that every insurance policy you have or will have comes with a policy fee? Policy fees vary by insurance company, but are generally between $4.00 and $5.00 per month. But, if you bundle your policies together, an adult couple could very easily save $15.00 per month.
Let’s say you have enough disability insurance through your employer and your household needs are life insurance and critical illness insurance.
As an individual, if you bundle them into one policy, you will only pay 1 policy fee instead of 2, saving you $5.00 per month. It may not seem like much, but $5.00 per month over 10 years is $600 in savings.
If you are a couple and each of you needs life and critical illness insurance, you can combine all 4 paying only 1 policy fee instead of 4. This would save you up to $15.00 per month. That’s $1,800 in policy savings over a 10-year period.
Now, in some circumstances, it’s not beneficial to bundle your fonts, so be sure to ask your Independent insurance advisor when you discuss your insurance needs together. They will be able to help you make the right call for you and your household. If you don’t have Independent insurance advisorI would be happy to help you understand your needs.
Combine your insurance policies…
And save money.
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Learn more about Fresh Ground Financial and how they can help you with life insurance today!