The second Golden Rule should read: Your life insurance will do unto you what you do to it. If you trust your life insurance and let it flourish, assuming you have picked the right type of life insurance for your particular situation, it will always give you benefits – if not monetarily, the peace of mind of knowing that you always have something for your loved ones. This alone is worth the potential short term pain that you feel in continuing to shell out that premium payment every month, and that you actually got a life insurance policy that covers you instead of half-doing and getting one just because it had the words “life insurance” on the cover. There are some policies that are not worth the paper they are written on.
Perhaps the best way to treat your life insurance policy well is to test it at every available opportunity. With the Internet of today, there are many websites that are completely dedicated to the comparison and the vetting of life insurance policies one against the other, and one against the overall market. Life insurance experts as well as many independent third party agencies who watchdog the industry recommend that you compare your life insurance policy to what is “out there” at least once every five years, if not more. And never, never, never be afraid to leave your current life insurance policy for a better deal. The life insurance industry is one of the most competitive industries in the world, and there is always someone offering an introductory deal or a special offer for people who keep their eyes open.
Also, if you have not taken the time to make sure that your health is in order, then use the fact that you can barely afford the payments on your life insurance policy to do so. Once you are in better health, then you are in a much better position to negotiate terms with your life insurance company, and you should most certainly take the opportunity to do so. Also, for every bad habit that you are able to break or every good habit that you are able to start for six months, contact your life insurance company (and their competitors) to see if they offer premium discounts for this type of discipline, because of the decreased risk that they now are taking on you as a client.