1. You’ve found a better deal
The life insurance industry is competitive, so it pays to comparison shop. Sites like Policygenius.com offer one-stop shopping.
To protect your dependents, don’t cancel your old policy until you’re certain that the new one has taken effect.
Also, check the financial strength of any insurer you do business with. The Insurance Information Institute’s website explains how to contact financial rating agencies, and what you should know about their ratings of insurance companies. A less-expensive policy won’t be a good deal if there’s no payout when you die.