Life  Health   Short Term–Gap  Dental  Travel  Long Term Care  Annuities  Student  Disability

long term life insurance

Term Life Quote

Lowest Term Life Quote

How Rates are Set

Term life quotes are not determined by agents or brokers (licensed as insurance "producers" in most states). So called insurance "brokers" do not "broker". Insurance can not be brokered like real estate or securities. However, independent agents who can help with rates and applications from more than one insurance company are sometimes referred to as "brokers".

Some people assume that prices are set by whoever advertises them. This is not true for life insurance. Because producers are authorized to display quotes and take applications, it is wrongly assumed that producers somehow, in some mysterious way, buy life insurance at wholesale and sell it at retail, or somehow mark it up to make a profit, setting the price that they offer to the consumer. Nothing could be further from the truth.

The respective insurance company sets the rates, their rates, the only rates. The life insurance process involves raising the initial capital to form a life insurance company, designing the products, pricing the products, deciding on the most economical way of getting applications, and approving, rating, or declining (underwriting) applications. All steps of the process, including what life insurance rates are quoted online by producers, are controlled by each individual insurance company. Nothing can be advertised by a producer except what is authorized by the respective insurance company, including life insurance rates.

To help reduce marketing costs as much as possible, independent contractors are paid commissions set entirely by the life insurance company alone. The payment is made only for successful applications produced by the contractors a.k.a. agents or brokers. That costs less than the otherwise necessary heavy media advertising and paying salaries to employees to do the same task.

All rates are set by the respective insurance company. Therefore shopping for a better price for the same thing amongst different producers/agents/brokers won't help at all because they can only introduce you to the same product which will have the same price as decided by each respective life insurance company. Any apparent difference in price for the same product from the same company can only be the result of a misunderstanding as to what is being quoted.

Term life insurance quotes online allow comparison between different insurers and their insurance products, not between producers because they don't affect rates in any way. Insurers do not give discounts to the customers of big online advertisers, because the individual premium must be determined according to individual risk category. There is no such thing as a discount in life insurance for the same product for the same applicant.

whole term

There is only a limited number of life insurance companies that compete seriously for term life insurance business. We quote those companies' products using the most extensive data base available online. The premium rate you will get from any application made using the services of any agent/broker cannot be lower than what you will receive with our help.

Initial Quotes are not Final

What you see online, or the one that you hope applies to you, may not be what you get. To get the real term life insurance rates that apply to you individually, you have to complete a somewhat lengthy application and in most cases have a paramedical exam. Then you are offered a term life insurance rate by the insurance company. Only that is the actual term life insurance rate for you.

Most insurance is sold by independent contractors who are paid on commission. They need to attract all the business they can. Some try to get that by quoting only the lowest term life insurance rates even if most applicants cannot qualify for them. We use a quoting service that includes the four most common categories of applicant so that you can at least see all four.

Buying Strategy

The most economical strategy in buying life insurance is to get the number of years of coverage that you need the first time that you buy, and stick with that to the end of the term. Buying life insurance only once is the best, if you can plan that well.

Some factors of a voluntary nature can cause a significant increase in term life insurance rates. Such factors are tobacco use, being overweight, hazardous recreation or occupation, excessive alcohol consumption, substance abuse, and medical conditions which are preventable by change of diet or lifestyle.

Since tobacco smokers die at about twice the rate of non-smokers while they are insured, the rates for smokers is about twice that of non-smokers. Insurance companies collect all the relevant statistics possible and anything, voluntary or not, that statistically contributes to premature death is going to cost more.

If you fill out this questionnaire and email it to us, we will email back to you as to what is the category that you will most likely qualify for. Alternatively, you can call us at 1-800-722-9053 during business hours if you prefer.

life insurance quotesLow Cost Life Insurance Rates