Life insurance can be a touchy subject. It involves people coming face-to-face with their mortality and addresses the survival of those left behind should a family breadwinner die.

That's why New York-based CPA John Savignano is such a valuable ally for those seeking guidance on this delicate subject. Savignano strives to take the mystery and guesswork out of life insurance. One of his chief focuses is to assist people with some of their most common concerns regarding this necessary expenditure.

"People buy insurance for many reasons," Savignano says. "The primary reason is that if someone's loved one passes away, you want to make sure that the surviving people are able to survive. Folks buy these policies so that their financial affairs can continue. And if someone's out of the picture, [that] doesn't mean the people who survive are going to disappear. So from a financial aspect, that is a benefit of having life insurance."

Finding the best rates for life insurance provides peace of mind for all involved, and keeps the buyer within a prescribed budget. Savignano approaches life insurance with an eye toward what's best for his clients.

He knows his clients have put a great deal of trust in him. Unlike some agents who focus solely on the commissions they reap from sales, Savignano wants to ensure that every client has the best insurance for their specific situation.

Finding the Right Life Insurance

One of the ways John Savignano sets himself apart from others in the insurance sector is that he puts in the hard work to determine the appropriate type of policy for each of his clients. In his experience, there's no one-size-fits-all approach when it comes to life insurance.

The type of insurance that's right for a person's particular circumstance will affect cost. This is why it's essential to Savignano that he determines the best type of policy for his clients before they sign on the dotted line. He doesn't want anyone to pay for a policy that isn't going to perform the way they expect.

As Savignano notes, many people don't think about insurance, "but it's part of your overall financial package." With that mindset, finding the right type of life insurance becomes more focused.

Many of the people Savignano helps opt for a universal life insurance policy. "It's like a deferred retirement account [where you] could put money away," he explains. "The earnings could generate on a tax-free basis. If you're a young family and you have a mortgage, and you have young kids going to college at some point, and God forbid something happens to you, your family could be protected by having this insurance policy."

Another option is term life insurance. This is very popular with younger people. "Most of their money goes to living expenses and paying rent or paying for a mortgage," says Savignano. "They're not really saving for retirement. They're not saving for a college education. It's an option. They can buy term insurance. Term insurance is very cheap, especially if you're young and in good health. For a few hundred bucks a year, you can buy yourself a $500,000 policy."

Factors That Affect Life Insurance Rates

In addition to the type of life insurance chosen, there are several other factors that affect the rate a person may pay for this coverage, including length of term, insured's age, gender, and health, smoking habits, and the amount of coverage.

A permanent life insurance policy has a higher rate because the length of its term is longer. In contrast, because term life insurance tends to have a shorter policy coverage period, it's usually less expensive.

As a person ages, it can be both more difficult and more costly to purchase life insurance. Opting to buy a life insurance policy when one is young and less likely to have health issues can make it more affordable.

Because women, on average, live longer than men, they have more time to pay their premiums. While the monthly cost differences might not be significant, they can make a difference in the overall amount that's paid across the lifetime of the policy.

The health of the person to be insured can be a significant factor that affects the rate. Having certain medical conditions means the insurance company considers that person a higher risk. This translates into higher premium rates compared to someone without those health issues.

Insurance companies factor in the smoking habits of their policyholders separately. If an insured person is a smoker, their life insurance premiums could increase by 50% or more. This is due to the increased chance of them developing serious health conditions such as lung cancer and related diseases.

The amount the life insurance company pays out upon the insured's death tends to have a direct correlation with the rate charged. A higher death benefit equates to a higher rate than one that has a lower rate, when all other factors are considered.

Finding the Best Life Insurance Rates

Many people looking for life insurance find the process confusing. Talking to a broker takes a great deal of the guesswork out of it.

A broker takes a big-picture approach to life insurance. By looking at everything that an insured has going on in their life, a broker can find a better policy that provides the coverage needed at an acceptable rate.

John Savignano founded BottomLine Tax Solutions as a way to both educate and serve his clients. With his focus on crafting the life insurance policy and terms that are best for each individual, Savignano has earned the reputation of being a trustworthy adviser across the New York City area. Today, he continues his role as an educator by delivering unbiased information designed to assist others in making the finest financial decisions for themselves.

Getting the best for his clients is John Savignano's highest priority.

 "I tell my staff we're not in the business to annoy clients," he says. "We're here to make them happy. And life is getting more difficult and transactions are becoming faster and more complicated. Clients are getting more sophisticated too, because they go on the internet and data is flying all over the place. But if you can build some level of confidence with your clients or customers, there's no need for your customer to go to the internet or talk to other people and have five different answers and be totally confused."