There’s more to saving money on life insurance than annual discounts or seasonal promotions. In fact, one of the most effective ways to reduce your life insurance premium is by leading a life that reduces your chances of actually needing the lump-sum payout. It might be a no-brainer, but healthy people have access to the cheapest life insurance in Singapore. Whether you’re buying a plan for the first time or want to know how to reduce next year’s renewal costs, here’s 3 ways to bring down your premiums so that you aren’t paying an arm and a leg for your life insurance plan.

Don’t Hold Off On Buying Life Insurance

As a rule of thumb, younger adults will find the lowest premiums in the life insurance market. This is because health issues increase as you get older, and thus life insurance is more costly to account for pre-existing conditions and increased health risks.