Life insurance is a necessity for many people; the last thing you want is to leave your loved ones without a means to cover the financial impact of a sudden death. So whether you are a senior and want the best life insurance over 65 or you are young and are looking for a policy early, here are the best ways to stop overpaying on life insurance:

1. Only cover what you need

The first step in reducing the cost of life insurance is ensuring that you are only paying for what you need. Assess what costs might be associated with your death and what your family will need help covering and you might realize you’ve been paying more than necessary. Just remember, you probably don’t want to go with the cheapest whole life insurance, instead opt for a policy that is still low cost but still has adequate coverage.

2. Ask for a multi-coverage discount

By getting joint life insurance quotes, or bundling life insurance with other insurance policies (such as auto or home insurance) you can actually get a discounted rate from most insurance providers. This is because you are bringing the provider more business so they will be more willing to give you a lower overall rate.

3. Start young

By getting health insurance when you are still young and healthy you can typically get a lower rate overall. This is because you pose less of a risk to the insurance company and you will bring them more business overtime. Because of these reasons insurance providers are more likely to give you a discounted rate and you can rest easy knowing you are covered in case of any accident or health issue that might arise.

4. Lead a healthy life

Another way you can be less at risk of death is by leading a healthy lifestyle. By not smoking, exercising regularly, and eating healthy you can stay in tip-top shape and avoid illnesses and disease. Life insurance providers will be more likely to give you a discounted rate if they believe you lead a healthy lifestyle and if you don’t have a history of illness, which can save you a ton of money on life insurance.

5. Compare rates

Another option available to you is to compare the rates that different insurance providers offer. By comparing rates and switching providers you might get a better deal then you had originally. Look for any kind of discounts being offered and see if they are applicable to you and your situation and also look for special offers or limited time deals and get the best rate you can.