Finding the cheapest term life insurance rates can be a daunting task. This article is a must-read for those who are looking for cheap term life insurance.
Remember, information is power. The knowledge bomb we’re about to drop on you will arm you with the information to find the cheapest life insurance rates. Finding cheap life insurance rates for our clients is what we do day in and day out.
So what can you do to get the cheapest term life insurance policy?
Work with an INDEPENDENT term insurance broker. Well actually, it’s not as easy as that – but this is the most important step. You want to ensure that you are getting the best quotes out there and an independent life insurance broker has access to all the top rated carriers on the market.
Termlife360 actually provides you with the opportunity to compare life insurance rates on our website. We represent over 50 of the nation’s top rated carriers.
Go ahead. Check out life insurance rates for yourself. We’ll wait.
Beyond comparing life insurance rates online, there are things that you can do to lower your life insurance premiums.
Get It Off The Backburner
Time is of the essence when you are trying to get cheap term life insurance. This is simply because term life insurance costs more as you age. Even if you do not currently have dependents, if you believe that you will in the next few years, secure a term life insurance policy while the offered terms will be at their most favorable.
Our research bears this out. If an average 35-year-old female signs up for a 30-year, 250,000 dollar term life insurance policy, she will likely pay about 20 dollars per month. If that same female waits until she is 45, her monthly payment would be about 35 dollars. This is an annual difference of 197 dollars. Or about 5,900 dollars over the thirty years.
Smokers Will Pay More
Smokers pay more for term life insurance than non-smokers – considerably more. If you know that you will be applying for a term life insurance policy, make sure you find the most affordable life insurance for smokers. It’s important that you compare every option available to secure the cheapest term life insurance rates possible.
If you chew, dip, use e-cigarettes or use any smokeless tobacco product, you DON’T have to pay smoker rates. There are carriers that will give you non-smoker rates. Contact us and we’ll provide you with those carriers and their rates.
Are you a High Risk?
Every life insurance company will look at your health differently. The key to finding the cheapest term life insurance rates is to find the company that looks most favorably at YOU. If you have any health issues, make sure you contact an independent life insurance agency (like termlife360.com) who can evaluate your risk and weigh all your options.
Are you addicted to thrills? Does the idea of bungee jumping off an insanely high bridge in Australia get your heart racing – in a good way? You should know that having a thrilling but dangerous hobby will send your term life insurance rates up, way up.
If you really want to find a cheap term life insurance policy, you should consider contacting a broker that specializes in your risk.
Take a medical exam
Bypassing the medical exam is one way to drive up your term life insurance rates. Insurance companies ask that prospective policy holders take medical exams as a way of reducing their risk in offering policies. You can bypass the medical exam (and we can give you those options), but you will have difficulty finding a cheap term life insurance policy.
Watch Your Weight
If you are overweight, you will pay more for term life insurance. This is because of the health risks associated with obesity. If you lose weight, you will not only save some money on your term life insurance but tackle those pending health problems before they occur.
If you think you’re a bit overweight and not sure, contact us. We can run your height and weight into our software that will provide the best rates based on your build. One company may offer you Standard rates, while another company may offer Preferred. Finding the cheapest term life insurance will depend on using the right life insurance company if weight is an issue.
Be Honest with Your Agent
Sugarcoating your health or hiding health issues is the worst thing you can do. Life insurance underwriters will find out about your health issues in your medical records or lab results from the medical exam. Be open and honest with your agent if you truly want the cheapest life insurance rates available. We’re on your side. We’ll present your risk in the most favorable light possible.
Compare Life Insurance Rates Online
I know we mentioned this above, but if you haven’t done so already – this is a good second step. (First step is to find an independent life insurance agency which we are, so you’re good there). You’ll see that we offer ALL the top rated life insurance companies to ensure you find the cheapest term life insurance policy available.
This article gives you some solid advice on finding the cheapest term life insurance plan. You can compare term life insurance quotes on our sidebar or call us and we’ll find the cheap term life insurance policy you’re searching for.