Life Insurance Blog

One of the greatest gifts that someone can give their loved ones is to protect them through an adequate life insurance policy. A sufficient plan will allow the loved ones to recover from the insured individual’s passing with a surplus of cash that can significantly reduce the stress of having to pay off bills, loans, medical costs and funeral and burial services for the deceased. Paying the premiums can of course be difficult, but a list of suggestions on how one can save money in order to make their life insurance premiums is outlined below.

Take public transportation

Depending on where the policyholder lives, they may have no choice other than to drive to work every day or whenever they need to run an errand. For some, gassing up the car and burning costly fuel is the only option at their disposal. But for those insured individuals who enjoy proximity to public transport, there are few excuses to explain why it cannot be utilised in order to save money that can then go toward paying their very important life insurance premiums. Just taking the public option to work every week would save quite a hefty chunk of change, and employing it for weekend errands or other trips around the city will save even more. In those instances when a car must be driven, policyholders can then save a dollar here or there by parking in the city and then riding the shuttle where they need to go.

Make meals at home

Eating out with loved ones is one of those universal treats in life that should be savoured and enjoyed whenever possible. However, this does not mean that one must eat out every few days or every weekend. The compiled costs of eating out on a regular basis could easily tally a month’s worth of life insurance premiums alone. One can only imagine what an entire year of such behaviour might contribute to paying one’s life insurance obligations. By making more meals at home or eating over at friends’ houses, those with a life insurance premium to pay can still enjoy the time with loved ones while keeping more cash in their wallets at the same time.

Choose cheaper recreation

It can be great fun taking in a play or lounging in a pub with a group of friends for the evening, or spending money on museum admissions, lake cruises and expensive day trips. But when it comes to making sure that the dependants or other family members will be covered through a life insurance plan, making the life insurance premiums is of greater importance. Policyholders should forgo unnecessary recreational options by setting up a nice picnic in a public park instead, or splashing in the cool water along the beach or riverfront where there is no charge to swim and where food can be brought from home. These are just a few of the many cheaper alternatives that are available to anyone who needs to cut costs, all of which can be just as enjoyable but without taking as much of a toll on one’s bank account.