How to Save When Buying NZ Life Insurance Policies
There are several ways which money can be saved when purchasing a NZ Life Insurance policy, or when buying most other kinds of insurance, for that matter. It takes a little effort, and a little homework to do so. Saving money on a NZ life insurance policy isn’t just a matter of shopping around for the lowest cost insurance policy out there. There are other things involved as well.
Look For Discounts – One way New Zealanders have found to save money is to avoid getting locked into a fixed amount of cover. Maybe you want a policy that has a $500,000 cover. When checking companies and getting different quotes ask them about their discounts. You may find a discounted policy offering $600,000 of cover that features lower premium payments than a $500,000 policy would. Or, you may find a discounted $400,000 policy that can really save some money. If you can convince yourself that a $400,000 policy will be adequate, it could be a very good choice. Otherwise, look for a discounted $500,000 policy, or simply purchase the lowest priced $500,000 policy you can find.
Don’t forget, if you settle for a quote and decide to purchase the policy the quote has been given for, you can always ask for a discount. Discounts are more readily available than we think, but more often than not you will not be offered one unless you ask. Just imagine how much you would save over the life of a policy if you were able to get it at a 10% discount, or even at a 5% discount. It’s worth trying to keep that money in your pocket.
Comparison Shop – Don’t just seek the lowest price or a discount from a company you are already purchasing insurance from, your car or house insurance for example. You may have a wonderful business relationship with your agent, but you’ll usually be better off doing some comparison shopping from time to time. You won’t know what’s available unless you look, and if you comparison shop, you’re bound to save some money. Get quotes from at least 3 different companies, more than 3 is even better. It’s amazing how few people compare quotes for their insurance. Since it’s such a simple matter to get multiple quotes online at no cost and with no obligation, it’s foolish not to do so. Yet most people don’t. Looking for discounts and comparison shopping are powerful money saving tools. Make it a habit, using the technique for other kinds of purchases as well.
Negotiate Changes In Premiums – Once you have a policy, it’s a good idea to check every few years to see if the cover the policy provides is still the right amount. You may need more cover, or you may be able to get by quite fine with less. In the latter case, you can probably negotiate for less cover and a lower premium, especially if you have term insurance.
There are other things you can do as well, but the combination of comparison shopping, looking for discounts, and negotiating for a lower premium can save you a great deal of money during your lifetime. We’ll be glad to help you in your search for an affordable policy that provides the cover you need. We’ll be happy to give you quotes, and provide you with useful information, at no cost or obligation.