Reader’s Question:

I’m very interested to know how I can get low term life insurance rates here in New Hampshire, any tips?

Bruce

Manchester, NH

One of the best tips that you can get in looking for the most affordable life insurance rates there in New Hampshire would be to first understand your needs, goals or the reasons behind your interest in getting a life insurance policy. There are many types of life insurance policies available and literally hundreds of life insurance companies to choose from. So here are a few things to keep in mind while looking for the best and most affordable life insurance coverage:

1. If you are young and relatively healthy and you have some financial obligations such as paying for mortgage or loans, or if you’re income forms a significant portion, if not the entirety, of the household income, or if you participate in hazardous activities or dangerous places due to work or hobbies, then you will benefit more on a term life insurance policy. The premiums are comparably cheaper and you will only need to maintain the policy for a set period of time (ten, twenty, thirty years or so).

2. If you are already into retirement age and is looking to make your money, grow or have a cash value feature towards your life insurance policy, as well as plan ahead on funeral expenses without having to renew your policy and would also want to have a stable monthly premium, then Whole Life or Permanent life insurance is the way to go.