subject: Do Not Be Tempted By The Tall Promises Of Instant Term Life Insurance Quotes [print this page] Buying a life insurance policy at a reasonably low rate is not difficult. You will find too many of them. However, purchasing a policy at affordable rate cannot be your only intention. Quite a few other factors need to be looked into to make sure that policy is just right for you. In fact, the first point that has to be looked into is what kind of a policy will suit you most and what amount of coverage will be enough for you. Buying a policy will be easier once you have decided on your goal.
Buy term life if protecting your family is your sole intension. Receive instant term life insurance quotes simply by filling an online form. Once you hit the quote button, multiple quotes from the leading insurers will come up instantly. Now you will have to compare those quotes and to get the best results, that comparison should be based on certain objectives. In the core of the policy lies the coverage amount. It should be adequate for your need. You can calculate that amount, using an estimation tool, available with many online brokers.
However, we have to admit that no calculation can be very precise because we have no means of knowing what our future needs are going to be. We can at the best try to make more or less an accurate guesswork and to make that we should take our investments, assets and liabilities into consideration along with our income. Your age is a vital factor and so is the size of the family. How old are your children? How long is it before they become independent? Do you need to make any special provision for their education?
Do not be tempted by the instant term life insurance quotes and make an outright purchase. To get a better deal, study the underwriting guidelines of the insurers first. Since each insurer has a different set of guidelines, it is important to make a comparison here too. However, trying to improve your own profile, where improvement is feasible, is also very important. You will get the best deal if your underwriting profile matches with the insurer's guideline.
However, if I am allowed to speak plainly, I will say that your life expectancy is the single most important factor in deciding whether you can get lower insurance rates on your policy. You can calculate that with estimation tools available online. They work by taking into account your age, health condition, lifestyle, habits etc. However, this can at the most give you an idea about the life insurance rates that you can be offered. The carriers themselves make their own evaluation from the results of the paramedical test that you are required to take. People with medical condition often opt for life insurance no exam; however, that is not always wise.
Life insurance no exam is a type of instant term life insurance. All you will have to do is to fill up an online questionnaire and if you are approved you get the coverage right way. There is no medical exam to take, no visit by the insurance executives or paramedics to endure. You do not have to wait for endless weeks while your policy is being underwritten. However, such a policy also increases the risk factor for the insurer and to compensate such risk, the policy comes with higher life insurance rates.
If you have certain medical condition that may make you uninsurable, do not lose heart. Do not apply under life insurance no exam either. Instead, look for those special schemes that the carriers have developed for people like you. Under such schemes, each and every case is evaluated by a panel of experts and judged objectively. The rates are fixed on the severity of the case and if it can be established that the ailment is under control for quite some time, you can avail lower rates too.
It is always important to remember that your life expectancy is a key element in deciding what kind of insurance rates, features and benefits you can expect to get on your policy. Your lifestyle and habits also play an important role in deciding your life expectancy apart from age and health condition. If you are planning to get an alternate form of insurance option like level term option or life insurance no exam option it is always better to know its pros and cons before making a decision.
Do Not Be Tempted By The Tall Promises Of Instant Term Life Insurance Quotes
By: David Livingston
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