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Should you switch term life insurance companies every couple of years to save on premiums?

In: Insurance, Life Insurance [Edit categories]

Answer:

The best thisng to do with term policies is to keep paying the premium. This is because as your age increases the premium for a new policy will also increase. Thus you will land up paying more premium. The question of insurability will also arise as your age increase. You might be asked to undergo medical check up if you are aged.

Renewing the existing policy will be the best option.

First answer by Shanbose. Last edit by Shanbose. Contributor trust: 2 [recommend contributor ]. Question popularity: 265 [recommend question].

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