Inexpensive Life Insurance
Are you looking for an inexpensive life insurance policy for you or your family
member? In most cases, term coverage is the cheapest type of policy available.
How can we help? We are independent, which means we work for YOU to get
the lowest rates. Everyone's age, health, and insurability is different so we work with over 100 highly rated
insurance companies to make sure you get the best rates for your particular situation. It definitely pays to compare.
Term Insurance is An Inexpensive Option
Certain types of policies are higher priced than others. Nevertheless, it should be the purpose of the
policy that should determine your purchase, not the price alone. If you were shopping on price alone, then term
life insurance is definitely the most inexpensive life insurance option available. With term insurance, you buy
coverage for a certain number of years. Once the term ends, so does your coverage. There is no cash value or
other features. It is a fairly straightforward type of coverage.This is in contrast to whole life insurance,
which is permanent and builds cash value.
Other Things to Consider
The least expensive life insurance coverage from any company are policies that are fully underwritten. This
means that a carrier will fully evaluate your health condition and health history. They do this through a set of
questions on the application. They ask about your health, your family health history, and your lifestyle. You will
also have to get a physical exam where a sample of blood and urine will be taken to further examine your health, as
well as your height and weight. If the questionnaire and the physical exam have favorable results, then you may be
given a very good health rating, which means a lower rate.
Although you can't control all of the aspects of your health, there are a few things that you can control that
will make a big difference in whether you get an expensive or inexpensive life insurance policy. Here are a few
examples:
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Stop Smoking. If you are a smoker then you should know that you will paySmokers, both
male and female, are given a higher rate with all companies. The reasons are obvious. On the average,
smokers die younger and have higher incidents of chronic lung diseases than non-smokers. Granted, your
grandfather may have smoked for 50 years and still lived to be 90 years old; but the price isn't based on
your grandfather. It’s based on the national averages.
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Control Your Weight. Believe it or not, most companies are quite lenient with weight. A
woman of 5’6”, for example, can weigh up to 220 without a rate increase unless other problems are present
along with the weight. However, cross the line on the chart, and your rate will take a sharp increase.
Also, you can’t get a preferred rate unless you are within 20 to 30 percent of your ideal weight.
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Get Active. In addition to diet, a major cause of multiple health issues is a lack
of activity. Even people who were heavy users of alcohol and tobacco in the “pre-technology days” often
lived long lives because they worked the poisons out of their systems by spending days in the fields, in
lumber mills or in factories. People also walked long distances and engaged in a lot more physical activity
than we do today. We could do ourselves a lot of good by adopting some of the habits of our ancestors.
Compare Rates to Find An Inexpensive Life Insurance Policy for Your Needs
If you want to find the most affordable
life insurance policy for your particular needs, then the first step is to do some shopping around. All life
insurance companies have their own unique underwriting standards, so rates can vary by as much as 70% from one
company to another. That's why it is important to compare multiple rates so
that you can be sure you are getting the cheapest policy for your situation.
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