Three Ways To Help You Save Money On Your Life Insurance

Sept. 4, 2012 - PRLog -- Raleigh, North Carolina (September 2012)– There may be a silver lining to the economic crisis that Americans have lived through over the past few years: We have become accustomed to spending less and saving more. Even as the economy rebounds, many people continue to look for ways to keep their household budgets in check. Luckily, spending less doesn’t have to mean doing with less, especially when it comes to life insurance coverage. There are ways you can maintain your coverage, but pay less for it.

“Life insurance is a financial safety net for your loved ones, so it’s critical to maintain that coverage especially with the uncertainty that remains in the economy,” says Robert Turner, CLU , President and CEO  of Capitol Financial Solutions. “But keeping that coverage doesn’t have to be a financial burden. There are ways to save money on your existing coverage, and I’ve got some tips to help you do just that.”

September is Life Insurance Awareness Month, the perfect time to review your life insurance needs with an insurance professional. If you already have coverage, you may be able to cut costs based on the following, says Turner:

   You’re healthier. If you have quit smoking, lost a substantial amount of weight or made significant improvements to your health, let your insurance company know. You may be able to qualify for a lower rate on your coverage.

   Rates are near historic lows. Life insurance rates remain near historic lows. In fact, the cost of basic term life insurance has fallen by nearly 50 percent over the past decade. So if your family’s budget is tight and your health status hasn’t changed much since the time you last purchased coverage, you may want to apply for a new policy. If you do, make sure not to drop your current coverage until the new policy is in force.

   Circumstances have changed. It is smart to review your policy every year to make sure it’s adequate and up to date. If the kids are out of the house, your mortgage is paid down, you’ve gotten divorced or family members no longer need your financial support, your need for life insurance coverage may have decreased. A smaller face amount policy will likely save you money.

“If people depend on you financially, life insurance is an absolute must,” says Turner.  “But no one should pay more than they have to.”

About Life Insurance Awareness Month
Held each September, Life Insurance Awareness Month is an industry-wide effort that is coordinated by the nonprofit LIFE Foundation. The campaign was created in response to growing concern about the large number of Americans who lack adequate life insurance protection. Roughly 70 million adult Americans have no life insurance, and most of those who do have far less coverage than most financial experts recommend. For more information on life insurance, visit LIFE’s website at www.lifehappens.org.


About Capitol Financial Solutions
Capitol Financial Solutions has a team of over 80 experienced professionals who are licensed and trained to help their clients achieve their financial goals. The firm’s reputation is based on the strong relationships formed with clients in combination with a commitment to service excellence. Led by Robert Turner, CLU, Capitol Financial Solutions provides clients with a dynamic opportunity encompassing value-added support services, an open architecture of financial services offerings, and a strong, ever-growing team of financial professionals and advisors.  For more information, please visit www.capfs.com.


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Offering John Hancock Insurance Products. Registered Representative/Securities and Investment Advisory Services offered through Signator Investors, Inc., Member FINRA, SIPC, a Registered Investment Advisor.  1752 Financial is an independent firm affiliated with John Hancock Financial Network. 8816 Six Forks Road, Suite 301, Raleigh, NC 27615. 919.546.0400.    201-20120827-115618