Working with the right provider can also open the door to discounts. Some companies offer reduced premiums if you bundle policies — for example, combining your life insurance with mortgage protection or retirement planning services. It’s always worth asking your advisor if a multi-policy discount applies to your situation.

Health plays a huge role in your life insurance premium. Your weight, blood pressure, cholesterol levels, and tobacco use all influence the rate you’re offered. Making small lifestyle changes — like quitting smoking, improving your diet, or getting more active — can significantly lower your cost. Some people even postpone applying for a few weeks just to work on their numbers before a medical exam.

Another smart way to save is by locking in level premiums. These policies keep your monthly payment fixed throughout the term, so you’re not surprised by increases later. It’s predictable and helps with long-term budgeting — especially if you’re planning around fixed expenses.

As your life changes, your insurance should evolve with you. Maybe your mortgage is almost paid off, or your kids are financially independent. In that case, you might not need as much coverage as you did five or ten years ago. Reviewing your policy regularly — especially after big life changes — ensures you’re not paying for more than you need.

Finally, don’t try to figure it all out alone. A licensed financial professional can help you navigate the fine print, compare providers, and structure a plan that’s both affordable and effective. They’ll also help you avoid unnecessary add-ons or duplicate coverage — which can quietly inflate your cost without adding value.