If you have a family, you need life insurance. No one is guaranteed another day, and it is a courtesy to leave your loved ones with the financial means to handle your final expenses, as well as a way for them to stay financially secure during the grieving process. Since most of us don’t have a lot of extra income to spend on a type of insurance we will never see, it pays to know how to find the cheapest life insurance. Getting low-cost life insurance depends on the type of policy you buy, who you buy it from, and how well you do on the medical exam.
Here are the two most basic keys to getting cheap life insurance:
👉 Target a term life insurance policy.
👉 Get quotes from multiple providers.
Term Life Insurance
This is similar to your vehicle insurance, making it easy to understand. You choose how long you want to be covered for, and pay a premium each month for coverage. If you pass away during that time period, the insurance company will pay out.
If you pass away during that time period, the insurance company will pay out. The insurance will expire and you will need to purchase another policy if you do not use it.
You’re likely to find the cheapest term life insurance when you’re young and healthy since premiums rise as you age. This means that later on in life they can become much more expensive.
Quotes from multiple providers
You can instantly set your mind at ease with our fantastic comparative insurance quotes. Our independent and transparent side-by-side comparisons will show you the best insurance quotes available in South Africa. Whether you need car insurance, warranty insurance, or home insurance, Compare Guru will be able to find you the best value for money. We also offer fantastic options for funeral insurance, medical insurance, hospital insurance, life insurance and legal insurance.