How to Get the Most Affordable Term Life Insurance Rates Online
Term life insurance is already the most affordable type of life insurance but if you want to get the absolute rock bottom quotes continue reading. With the help of the internet, it is not hard to compare instant term life insurance quotes completely online from the comfort of the nearest electronic device. So let’s look at a few steps that will guarantee you get the best rates. Compare term life insurance quotes.
1. Shop Online with a Broker
By going with an online brokerage you are already halfway there since you will have the ability to compare rates online with all the top life insurance companies. When you deal with a captive agency they can only offer one or two companies. Since rates are fixed by the law you are better at scanning the whole marketplace for the most affordable options.
2. Don’t Procrastinate
Don’t put off getting life insurance for any reason. Each year you get older equals a higher life insurance rate, not to mention your health can get worse over time. Unfortunately, unlike wine, we don’t get better with age and life insurance companies know that.
3. Determine your health rating
Life insurance companies will rate you based on your overall health and risk, the rate classes start at a preferred plus for individuals with outstanding health, followed by preferred for great health, standard plus for good health, standard for fair health and of course substandard for people that are considered high risk. Now the rate class is determined by your build, family history, background information and sometimes even hobbies. The key is to be upfront about everything since the term life quotes can be different for each rate class.
Auto insurance rates
For example, let's say for preferred rate Protective Life might show up as the most affordable rate but what you didn’t know is that based on your height and weight they will rate you standard. Let’s say another company like Genworth was a few dollars more for the preferred rate class but it’s the best option for you since according to their guidelines your height and weight qualifies for the preferred rate class. This applies for everything else due to the point that each companies guidelines are different, so make sure you do a thorough pre-qualification with a knowledgeable broker.
4. Pay Annually
Another great way to get the best term life rates is to pay for the term life insurance policy annually or even semi-annually. This is the single most effective way to save 3%-5% on the total premium compared to monthly payment option. Also when you compare quotes on our website make sure to select the annual payment option, so you can see which companies offer the most affordable term life insurance quotes overall.
5. Save Age
You might think we came out with a way not to age, but unfortunately no fountain of youth here and no Justin Timberlake from “In Time” here either. However, this can save a lot of money if your primary focus is to get the most affordable term life insurance rates. Basically, life insurance companies quote you on the age nearest meaning if you are past 6 months into your current age you get quoted on the soon to be age. The way to save here is to pay for premiums for the past months to get you under the 6 months, in order to lock in the rate for younger age for the duration of the policy. If you would like to get a detailed explanation please read this article: How to Save Money on Life Insurance.
6. Prep for exam
Sometimes you can be healthy but a little coffee brings up your blood pressure and the donuts get your cholesterol out of whack. Well, this temporary reading can cause you to get a much higher rate since companies will use the lab results to determine your rate class. So few days before exam try to eat clean, drink lots of water and don’t over exercise. Also, try to schedule your medical exam in the morning for optimal lab results due to the sleep fast. If you got to this point you are now ready to get yourself the most affordable term life insurance quotes online. Get instant quotes online or call us now and let us do the shopping for you: 888-492-1967 For more useful tips feel free to check out " Ultimate Guide " from our partner.