Did you know that 75% of Indians don’t currently have life insurance? That’s a scary thought. Because death is an inevitable part of life that happens to us all, and possibly sooner than we might anticipate, it simply doesn’t make sense to go on without some sort of life insurance plan.

Sadly, one major reason why people don’t have life insurance is because they can’t afford it. However, because term life insurance is more affordable than whole life insurance, every adult should at least have this less-expensive option.

Although many prefer to settle with the cheapest plan, it’s still critical to opt for the best term insurance plan to get the most bang for your buck. Here’s how you can save money to make to ensure you’re able to afford the best of the best life insurance:

1. Consider a low-load life insurance policy.

If money is tight, it’s not only important to save money to buy term life insurance but also to save money on life insurance as well.

When compared to other policies, a low-load or no-load life insurance policy is more affordable as it features fewer agent commissions and fees. The only downside is that low-load life insurance policies are more difficult to find and may not be offered in all states.

If you’re interested in this option, seek a low-load life insurance policy from financial advisors who charge flat fees versus those who earn a commission. 

2. Improve your health.

Did you know that insurance companies may boost your policy rate if you have pre-existing health problems? It’s true.

Some of the health conditions that can kick your life insurance rate higher include diabetes, heart disease, obesity, pulmonary disease, and cancer. Smoking can also increase your rate, and many companies will actually request saliva or urine tests to determine whether or not you’re a smoker.

Improving your health can not only possibly get you a lower insurance rate but keeping yourself healthy also means there will be more money in your pocket as you’ll be requiring less or no medication, medical treatment, surgeries, and the like. Thus, paying for your life insurance will be easier than ever before.

3. Come up with a personal budget.

One of the best ways to help yourself save more money to cover the cost of term life insurance is to get on a budget. This means looking at your current financial situation and deciding what it is you need to adjust to ensure you have more money in your pocket.

Cut back on any unnecessary expenses, like magazine subscriptions, luxury grocery items, and gym memberships that aren’t being used. Likewise, create a monthly limit for entertainment (e.g., movies, date nights, etc.) as well as a budget for non-necessity items (e.g., fashionable clothing, new electronics, etc.).


To ensure our loved ones receive our assets, it’s critical that we have an insurance plan set in place beforehand. With these three tips, you’ll soon be able to afford a great yet cost-effective term life insurance plan to keep your assets protected.