Insurance premiums are a cost area that people should pay attention to. With all things being equal, being able to pay less is always better than having to pay more.
Given that insurance policies are typically bought, and paid for, over a long-term, a lower premium each year can amount to substantial savings when added up over the years.
For example, if your 20-year term insurance premium cost $100 less each year, you would be able to save a total of $2,000 by the end of the coverage period.
If you have you ever wondered what affects your insurance premium, here are four key areas that will impact how much you pay each year.