Important Facts

Tips for Affordable Life Insurance Premiums

Life insurance premiums are based on a variety of factors, such as age, overall health, and family history. This article discusses some ways to reduce the amount you pay.

3 Ways You Can Trim Your Life Insurance Budget

According to, the amount of insurance premiums charged by an insurance company is determined by statistics and mathematical calculations done by the underwriting department of the insurer. In other words, the life insurance company is basing your premiums on your individual risk and charging you accordingly.1

But did you know that you may have a certain degree of control over your life insurance budget? The fact is, life insurance premiums are based on a variety of factors (your age, overall health, whether you smoke, family history, lifestyle, etc.). So anything that may reduce your life expectancy, can also increase your premiums.

The following are just three of the ways you may be able to trim your life insurance budget.

1. Get more than one quote.

Once you know how much life insurance you need and have a better idea of the type of life insurance policy you want, it’s time to go shopping. A good rule of thumb would be to get at least three quotes from reputable life insurance companies, and to always compare apples to apples. Click here to learn more about buying life insurance.

2. Stay healthy.

Whether you are buying a policy for the first time or have an existing policy, the healthier you are, the better your rates will be. So for example, if you’re a smoker, consider quitting. If you know you have some unhealthy weight to drop, then do it (your wallet and those you love will thank you). And if you have an existing policy and have undergone some big lifestyle changes, you might consider reapplying for coverage. Some insurers may reconsider a policy rewrite under certain conditions.

3. Buy it as early in life as possible.

Nobody likes to think about the thought of dying unexpectedly at a young age. However, by purchasing a life insurance when you are young (and yes, healthy), will allow you to secure some exceptional premium rates – even for some of the permanent life insurance policies such as whole and universal life. Moreover, it locks you into these rates so as you grow older and perhaps experience changes in your health status, you will continue to pay lower rates for as long as you own your policy.

For more information on affordable life insurance, visit the Protective Life Insurance Learning Center.


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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax‐related decisions. For information about Protective Life and its products and services, visit

Life Insurance Budget

Need help to trim your life insurance budget? This article presents three tips on how you may be able to lower your life insurance budget by improving your health, doing some comparison shopping, and not waiting to purchase a policy. For more information, visit our learning center.