Austin, the capital city of Texas, is often come up as one of the best places to live in the U.S. But, to live in one of the best cities and to live comfortably in a city are entirely two different things. According to the 2021 study conducted by GO Banking Rates, even though the median income in Austin is $63,717, a homeowner needs $ 98,007 and a renter needs to earn $94,455 a year to live a comfortable life in Texas capital. One cannot deny the fact that less income leads to financial security.
We understand that you work hard to make a living, get a promotion, and go ahead on the success ladder. But, no matter how much you earn, you need financial security. That’s where the role of an Austin insurance agency comes into the picture.
By choosing one of the best insurance agencies in Austin, you can strengthen your financial support and live a worry-free life. While health insurance is essential, you must think about buying the right life insurance in Austin. Why? Life insurance is known to provide the most comprehensive financial support you can depend on to protect your family from an unforeseeable future.
Most people think that the cost of life insurance is huge. On the contrary, a good life insurance policy can be much more affordable than you think. This guide helps you minimize the cost of life insurance in five easy steps and lead a comfortable and stress-free life.
Buy Life Insurance in Your 20s or Early 30s:
The cost of life insurance increases at a significant rate as you get older. Meaning, your age plays a bigger role in determining the life insurance cost. With every passing year, your mortality rate increases, and hence, the life insurance becomes costlier as you age. The cost of life insurance is typically much lower when you are in your 20s or early 30s.
Lead a Healthy Life and Stay Fit:
You might think this tip is for those who are looking for health insurance. But this is what your life insurer will pay attention to when underwriting a life insurance policy. A person who stays in the best of his health is less likely to suffer from life-threatening diseases and conditions.
For instance, if you are a smoker, your life insurance premium can be ten times higher than the premium for a non-smoker.
Thus, remember that your healthy lifestyle has the power to reduce your premium. To reinforce fitness, your Austin insurance agency may even offer discounts depending on the steps you take to lead a healthy life, such as regular physical exercise, running, swimming, and a balanced diet.It seems like you’ve got one more reason to stay fit.
Choose to Pay Premiums Annually Instead of Monthly:
You might not know but yearly premiums can indeed be cheaper than annual premiums because your insurer can give you a discounted rate for paying annual premiums. We understand that not every person can afford to pay an annual premium. However, if possible anyhow, choose this option because not only annual premiums will allow you to enjoy a discounted rate but also offer convenience because you won’t have to worry about premium payments the rest of the year.
The last but not the least tip you can benefit most from is to focus on the sum assured and not the premium. Only the right amount of sum assured will give you peace of mind because this is the only thing that will help a family lead a comfortable lifestyle even after the unfortunate demise of the bread earner of the family. A good life insurance policy is a must if you seek to live a comfortable and stress-free life. So, don’t skimp on it.