Insurance companies want your business. They are competing with others for new customers and in order to attract new clients, they are trying new methods and using new technologies to attract it. You can obtain an instant quote, with no phone calls, no emails and most importantly no hassle. Getting quotes should not be a stressful time.
Remember that you are in the driving seat when it comes to purchasing life insurance. They need your business so make sure you shop around and compare prices. You can save hundreds if not thousands of dollars over the life time of the policy by shopping around now.
Not everyone understands the phrase Term Life.
Term life insurance as the name suggests, is a a life insurance policy that is valid for a period of time, or term. At the end of the agreed time period, or term, the life insurance expires. Hence the name, Term Life. There is no cash build up value and the premiums remain the same for the length of time the policy has been put in place for. Because of these factors the insurance companies risk is reduced as they are only providing the life insurance for the set time period and they do not have to set aside a cash value for later possible cash value.
Term life insurance is the most affordable or cost effective life insurance policy you can buy. It is particularly attractive to young couples and families, people looking for mortgage protection and those looking for senior life insurance.
It is a fact that not everyone wants to go to the trouble of undertaking a medical exam, or simply don't have the time to attend to one. This should not be a reason to put off looking for life insurance or gathering facts around the cost. It is also no reason to actually not take out a life insurance policy as many life insurance companies will provide life insurance policies without the need for a medical exam.
The acceptance of a life insurance policy by the insurance company is based on your risk. This is completed by the Life Insurance company though their underwriting process. It is this method which determines their acceptance criteria and hence the premiums they charge. They review your application and the medical questions you have answered and determine which category you belong to. Typically there are three categories Select, Preferred and Standard and your application will be placed into one of these categories.
Ideally you want to be in tip top health and be a non smoker to achieve the top rating! As you can imagine smokers are penalised through more expensive premiums.
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