Life Insurance Types | Buying Life Insurance | Understanding Life Insurance | Glossary
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Cheap Whole Life Insurance

It's no wonder that many people want cheap whole life insurance. Of the many types of life insurance out there, whole life is the only one with premiums you can expect to pay indefinitely; this means you should be especially price conscious when shopping for whole life insurance, since you can expect to pay the same premium month after month from now until you reach end of life. But the question remains - is cheap whole life worth it?

The Dangers of "Cheap" Policies

Being price conscious can mean anything from doing the research to get the lowest possible whole life rate to sacrificing quality just to save a buck. The old adage of "buyer beware" applies here, more than any other consumer product - why would you go through all the trouble to secure your family's future only to cut a couple of corners and, in doing so, potentially cost them everything? There is a right way (and a wrong way) to save when it comes to cheap whole life insurance, and we're here to help you navigate the path to the coverage you want at a price you can afford.

The Do's

Keep these facts in mind when shopping for your policy:

  • Insurance companies are just like any other company - they need your business in order to survive and remain profitable. It's best to get at least two or three quotes and use those as leverage when negotiating rates with potential providers.
  • With whole life policies, which do not expire, you should wait for the "slow season" or economic downtime to get your policy, of possible. Insurers and agents will be more willing to cut you a deal.
  • Know your terminology going into the game. It's difficult to get the best rate on a whole life policy if you don't know what you're asking for. You might get something you don't need or, worse, you might get duped by a salesman trying to make some extra commission!

The Don'ts

When shopping around for a policy, you should avoid:

  • Do not go with unknown or unstable providers. Remember, these companies have to be around to pay out your benefits when the time comes.
  • Do not skip tests, provide untruthful statements, or lie in any way. In the event of your death you can bet on a company examining every part of your intake to evaluate your beneficiary's eligibility, which means everything you say/said will be under intense scrutiny.
  • Do not rush into any policy, especially whole life insurance. It's best to price this insurance out over time and get used to withholding your premium from your check before you buy whole life insurance. While whole life insurance is one of the most secure products on the market, there's no going back once the policy is issued, so rushing into an agreement (especially if the seller pressures you) is a common mistake that should be avoided at all costs.

Where Can I Go for Help?

You can interview local whole life insurance agents or call the toll-free numbers provided by recognizable national insurers, or you can use an unbiased service like ours to pre-screen your potential providers. works with local agents and major national companies to bring you the best, cheapest whole life insurance rates available in your area, eliminating the need for you to do all the heavy lifting on your own. Are you ready to see how cheap your whole life policy could be? Use the form on the top of this page to select companies and agents or compare rates now.