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Term Life Insurance Rates

insurancebrochure Term Life Insurance Rates

What you see online 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.

What you see online is mostly wishful thinking for anyone who does not qualify for the rating class whose rates are being quoted. Most insurance is sold by independent contractors who are paid on commission. They need to attract all the business they can. They get that by quoting the lowest term life insurance rates even if most applicants cannot qualify for them.

The lowest term life insurance rates are for the first year of annual renewable term. However, it is the most economical to buy the number of years of coverage that you need and stick with that to the end of the term. Term is typically available in five year increments.

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 preventible 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 going to be much higher than for those who can grasp the concept that smoke inhalation is never a good idea. The insurance companies have the figures and anything, voluntary or not, that statistically contributes to premature death is going to cost more.

If you fill out the life insurance quotes 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.

Bear in mind that the price you pay is decided entirely by the insurance company itself according to the rating they alone assign to you. No one advertising quotes online can provide lower term life insurance rates. Agents/brokers (producers) just get paid a commission set by the insurer for producing an application if it results in a paid for policy. The cost is determined by the insurer only. Insurers do not give discounts to the customers of big online advertisers, because the individual premium must be determined according to individual risk category.

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