You Can Improve Your Current Rating on Your Current Life Insurance Policy
This is the best-kept secret in life insurance.
You can lower your premiums on your current life insurance policy without buying a new policy!!!
This will save you hundreds to thousands of dollars in premiums!!!
How to save money on your current life insurance policy.
Most people buy their life insurance policies and then think their rating is fixed for the entirety of the term. For example, many people think rates will always stay the same if you have a standard tobacco rating. However, you can improve that rating. Most life insurance companies allow you to re-test throughout your active policy to improve your rating. If your health has improved, this can save you hundreds to thousands of dollars in premiums. If your health has not improved, your rating will not be lower if you are outside your first two years of the policy date. There are more details about this process here.
Here is how you take advantage of this hidden gem in the insurance world.
Even though your policy is in force
You can improve your rating if your health has improved
This can save you hundreds to thousands of dollars in premiums
Why is this a secret, and why don’t the insurance companies want you to know?
Insurance companies don’t necessarily hide this information, but they don’t advertise it either. They offered you a rating based on your current health when you purchased your policy. If it was a lower rating, your premiums might be slightly more expensive than the best health-rated policies. You can read more about the rating systems and how they affect your premiums here. If your health has improved, the insurance company is getting more premiums than it should be. Which means you are paying more than you should.
Why pay more for life insurance when you don’t have to?
Do you like paying more for things than you should? Do you like paying more taxes than you should? Do you like buying cars or houses that are overpriced? Then this strategy is NOT for you.
If your health has improved from when you purchased your life policy, then you can call the insurance company and improve your ratings on your policy. This will lower your premiums.
It is not as simple as a phone call. There is a little bit of a process. You might have to prove that your health has improved. For example, if you were a tobacco user when you purchased your policy and no longer use tobacco, you will have to prove it by re-testing. If you were rated for being overweight and have since lost weight, they will want to see your new height and weight. Here is an article about how height and weight affect your policy.
The formula is simple!! Improve your health = improved rating = lower premiums on your policy!
The formula is simple, but the process might take some time. Aultium Insurance agents can help you with this process. We know you are busy and have a lot going on in your life. We can help you move through this process of lowering your rating. While you continue your daily life, we can work for you behind the scenes to help lower your rating. This service does not cost you any money!