Not so much, according to a survey from Guardian Life. The survey showed that consumers under 40 are opting for whole life insurance over other types of policies due to their desire to be financially secure.

The survey showed that 35 percent of the respondents under 40 also preferred to pay their premiums as fast as possible versus the traditional lifetime payment schedule. The No. 1 motivating factor (72 percent for those under 40) for the purchase of whole life was the desire to protect their families. The No.

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Take a look at low cost term life insurance. Accept the fact that all term insurance policies are not the same. Premium costs vary depending on the plan you choose and they also vary from company to company.

You naturally want the lowest premium available but from a quality carrier. You also want to be assured the company is there when you need it. Life insurance companies don’t usually run into financial problems.

The carriers that specialize in life insurance are pretty safe. You could have a problem, however, if they sell other type of insurance that are more risky.

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Nobody likes to pay more money for their life insurance than need be. Everybody knows that life insurance gets more expensive as you get older, but there are strategies that can help you save money on your policy. Here are a two tips that could help you to save thousands of dollars over the life of your plan.

1: Figure out how the insurance company determines your age.
There are two ways that insurance companies factor your age when you apply for life insurance. Your age will be determined either by using your actual age, or by using your age nearest.

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