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Tips to finding the cheapest life insurance, and how to get coverage quickly.

Written by Ryan Lowell on October 6, 2010 & Posted in Insurance

How to Get Cheap and Fast Life Insurance Coverage?

Tips to finding the cheapest life insurance, and how to get coverage quickly.

How You Can Get the Cheapest, Fastest Life Insurance

Q Dear Ryan,

What's the cheapest, fastest way to buy life insurance? --Stephen, Michigan

A Hi Stephen! First, are you looking for life insurance in order to cover a specific obligation, like a mortgage or your kids' college education? If so, term life insurance is likely right for you, and it's the cheapest form of life insurance available.

Now to your question about the fastest way to buy life insurance. Comparison shopping online is the speediest way to gather information on policy prices. Here's the secret to securing coverage as fast as possible: When you've chosen a policy and company, attach your first premium payment to your application. The life insurance company will issue a conditional receipt.

Then, assuming you complete the medical exam requirements and you are judged an acceptable risk, your coverage is effective on the date you submitted the application. Considering the application process could easily take six weeks, this lets you lock in coverage right away.

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