Here’s how you can pick an affordable and suitable life insurance plan:

1. Choose the right type of policy: Term life insurance is typically the most affordable type of life insurance, and it can provide adequate coverage for most people’s needs. Permanent life insurance, on the other hand, is generally more expensive and may not be necessary for everyone – however it gives a whole lot more additional features and flexibility.

2. Shop around for the best rates: Different insurance companies offer different rates and coverage options, so it’s important to shop around and compare quotes from multiple insurers to find the best value.

3. Choose the right amount of coverage: The amount of coverage you need will depend on your specific circumstances and financial obligations. Choosing the right amount of coverage can help you avoid paying for more insurance than you need.

4. Opt for a higher deductible: Just like with other types of insurance, choosing a higher deductible can lower your life insurance premiums.

5. Maintain a healthy lifestyle: Insurance companies often consider factors such as a person’s health and lifestyle when determining premiums. Maintaining a healthy lifestyle, such as exercising regularly, eating a balanced diet, and not smoking, can help lower life insurance premiums.

6. Consider group life insurance: Some employers offer group life insurance as an employee benefit. Group life insurance policies can be less expensive than individual policies, and they may not require a medical exam. But it is also important to keep in mind that having something that you solely own that is not dependent on any employer who can depart ways with you at anytime is an important factor as well.

Overall, it’s important to carefully consider your individual needs and circumstances when choosing a life insurance policy and to take steps to make it more affordable. Working with a financial advisor or insurance agent can also help you find the best policy at an affordable price.