Life insurance is a necessary, boring, adult expense that is pretty darn important. This post will tell you how to get cheap life insurance so you can protect your family AND have money left over for more exciting purchases.
Affordable life insurance
Brace yourself; it’s a post on life insurance!
I promise I will make it as interesting as possible, and share a ton of helpful information that could save you lots of money on life insurance.
Life insurance is not a fun thing to spend money on. Buying life insurance is one of those adult tasks we wish we could skip (like making a will). But most people realize that having life insurance can help protect your loved ones.
I have a few awesome side hustles but I also work part-time outside of the home. Although I absolutely LOVE my side hustles, one great thing about that outside job is the benefits. I have health insurance, disability insurance, and life insurance. Although I’m feeling the pull to give more hours to blogging and my side hustles, the idea of letting go of all those benefits that come with the job would be hard.
Some people are like me and have a great life insurance plan offered through your work. But many people don’t have this and you’re stuck looking for affordable life insurance on your own.
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Online term insurance
With so many things, people are turning to buying online instead of buying in-person (hi there Amazon!)
Bestow is a newer American insurance provider and they offer an easy way to apply for cheap life insurance online.
Most people get why life insurance is important. But they don’t get why applying can be so hard.
Endless paperwork.
Trips to the doctor.
Agents on commission.
BUT: It doesn’t have to be like that.
Bestow helps you protect your family without the hassle and weeks of waiting — and they are super affordable too.
At Bestow, there are no commissioned sales agents. You can apply for online term insurance without needing to schedule a call or listen to a sales pitch.
It’s truly fast – it’s possible to get a quote, get approved and pay for your policy within 10 minutes.
(By the way, this post is NOT sponsored, but when I find something that can save you money, I want to pass along the information to you.)
Cheap term life insurance
Term life insurance is one of the simplest and most affordable types of life insurance.
Bestow offers 10 year, and 20 year term life insurance with coverage between $50,000 and $1,000,000.
Let’s go over the pros and cons of using this cheap term life insurance provider. There are a lot of positives to Bestow and it can save you a lot of money but as I talk about in my posts on work-from-home options, there is no perfect solution out there for everyone. I will share the pluses and minuses and you can decide if it works for you and your family.
Pros of Bestow:
- 100% online term life insurance
- No medical exam needed
- You don’t need to speak with an agent
- Up to 1 million dollars in no exam coverage
- Life insurance starting at $8/month
- Get covered in minutes if approved
- Bestow’s insurance carrier is rated A+ (Superior) by A.M. Best.
- No cancellation fees
Cons of Bestow:
- Only available to people between the ages of 21 and 54. If you’re older or younger than this, you won’t be able to use Bestow for cheap term life insurance.
- It’s not available in New York state
- No terms longer than 20 years at the moment
One more plus: They offer a free 30-day look period. This means you have 30 days after being approved to decide if it’s right for you and your family.
Here is an example of estimated monthly premiums for a 30 year old woman in good health with Bestow life insurance:
| Coverage | 10-year term | 20-year term |
| $50,000 | $8.79 | $7.92 |
| $100,000 | $8.42 | $8.83 |
| $250,000 | $10.83 | $12.71 |
| $500,000 | $15.83 | $19.58 |
| $1,000,000 | $28.33 | $35.83 |
* quotes listed as of 8/22/19
There you have it! Bestow is a way how to get cheap life insurance, and it eliminates a lot of the hassle of signing up for life insurance since it is all done online without any medical exams needed.
When you’re trying to live more frugally and save money, everything counts. If you can save money on expenses that recur monthly the savings can really add up.
If you’d like to know what your rates would be click below ⇓
GET YOUR FREE 100% ONLINE QUOTE TODAY!
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Vishal Singh
Monday 4th of January 2021
Life Insurance Coverage Is So Important. Meanwhile Business Insurance Is Also A Necessity If You Run A Business. People Are Taking Business Insurance Too Lightly.
Pinky Yadav
Saturday 25th of July 2020
These are great tips! Life insurance coverage is so important, yet so many people do not realize that it is possible to achieve cost-effective life insurance premiums. Taking care of yourself is your best bet.
TheCuriousFrugal
Saturday 25th of July 2020
Thanks Pinky! Yes I hope this article helps people see that there are affordable life insurance options. Have a nice weekend!
Maggie
Sunday 21st of June 2020
Hi Suchot! Great Choise of topics and great blog. We all need to learn about to keep more of our money in our on pockets. In regards to Life Insurance, my only addition. Our comments and that people should seek for the longer term “term insurance” they can find. Primerica, which is the term insurance champion, offer term insurance up to 30 years. A 10 years Renewable term insurance will be renewed with premium on your new age, or 10 years older than when you started. A 30 years term insurance will keep the same premium for 30 years. I enjoy following your blog. Good luck and keep up with the good work!!
TheCuriousFrugal
Sunday 21st of June 2020
Thanks Maggie! Happy to have you reading along :)
Debbie-Dabble
Saturday 7th of September 2019
Great post!! It is best to get life insurance when you are young because your rates are lower than when you are older. My husband and I recently had to get insurance as my husband's insurance from work drops with each year after retirement for the first 5 years and when I recently retired, the policy I had through work for double my salary was dropped in a blink of an eye! Hugs, Deb
TheCuriousFrugal
Saturday 7th of September 2019
Thanks Debbie! My parents are going through this after just retiring. It makes you really appreciate these parts of having an employer! It's totally best to get life insurance when you're young. Have a great weekend! :)