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long term life insurance

Life Insurance Rates

best life insurance rates

Rates By Type

The longer the period of coverage, the higher the premium that has to be paid. That is because a higher percentage of insured people will die in the coverage period the longer that it is. So for term, from the lowest to the highest, it goes like this: annual renewable, five years, ten, fifteen, twenty, twenty five, and thirty years.

Permanent life insurance which includes the assurance that the amount insured will eventually be paid for sure if premiums are paid, costs more than any term because most people outlive the term. Based on projections or illustrations, flexible premium Universal Life may look like it will have rates less than Whole Life, but in the long run, that may not be the case.

Whole Life includes more in the way of guarantees of level premium rates and face amount. Depending on economic conditions in the long term, those guarantees may be advantageous to the policyholder compared to the unpredictable long term performance of ordinary Universal Life.

The long term rates for Variable Life are even more uncertain because they depend on the performance of the investment choices made within the insurance policy. Perhaps being able to choose where the prepayment is invested may boost results, but maybe not.

Actual Rates per Applicant

Actual rates are disappointing for some applicants. This often happens because the medical exam results are not as good as expected. This is most likely to occur if the applicant has not had a physical wellness checkup exam, including lipid panel and fasting blood glucose lab test results, in the last couple of years. If results outside the normal range come back, the shocked applicant is offered much higher rates than what was anticipated.

whole term

This is a competitive business, especially so with term life insurance rates. Many buyers go with the agent or company that quotes the lowest life insurance rates, not realizing that it's for an underwriting category for which they cannot qualify. When the paramedic exam readings come in, and all the other risk factors are taken into account, the insurer's opinion of the financial risk is often much worse than the applicant's estimate.

To avoid disappointment, and delay by having to re-apply, it will help to get an educated opinion from a life insurance producer, like us, as to what the category will likely be, and apply to the life insurance company with the best life insurance rates for that category. The company with the best rate for the super most preferred category oftentimes does not have the best life insurance rates for the lesser categories for which most people qualify.

Rate Factors

For any given type of policy, here are some of the factors that determine life insurance rates:

Get Rates Online Now

Many web sites promise an online quote, but after you enter your personal contact information, it turns out to be a lead for a life insurance agent/broker to call you. Operations like that may not have a single online quote. If that's not what you want, use our quoting service. It has the biggest database of life insurance rates that we can find, and no agent will call unless you ask us for one to do so.

We do not need your address or telephone number before we provide quotes. You can call us when you need assistance with deciding what to do, or want to make an application.

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