How to Find the Best Life Insurance Rates

If you are planning on purchasing life insurance in the near future. You are probably also determined to find the best life insurance rates at same time. This is definitely not a complicated task if you use your head a little. If you have absolutely no experience with life insurance, that is no problem. All you would need to do then is get help from a trained professional.

All you have to do is know how to use a telephone and it would help to have a computer. Life insurance like most insurance products can seem complicated but it is actually the most simple form of insurance. Your auto insurance or homeowners policy is more complicated. 

First, save time and connect with an independent agent that specializes in life insurance

One fact you need to understand is all life insurance rates are regulated by law. In plain terms this means nobody can sell the same insurers product for more or less than another. Consumers normally shop for life insurance products like they were televisions sets or kitchen appliances. It does not work this way for your protection. In fact, all forms of insurance are regulated by law for your protection compliments of the government. 

Regardless of who you purchase the insurance from, your rates will always be exactly the same! No matter who the agent or agency is or where they are located. If you purchase your life insurance form an agent in any one of our 50 states or buy it direct from a carrier, the premium will always be exactly the same.

Here is how the best life insurance rates are first created 

The life insurance company actuaries who are highly trained develop the rates based on statistics. This revolves around the life expectancy of people of all ages groups. They have to take factors like current health conditions carefully into consideration. They also have to pay attention to many of the most hazardous occupations or dangerous sports. Anything that could be a factor in taking ones life, they have to consider. The life insurance actuaries are where it all begins.

Each states Department of Insurance makes sure all rates are regulated

After the life insurance actuaries create the rates, the insurance carrier publishes the rates for review. The next step will be with each states Department of Insurance that the company does business in. Before the rates can be made visible to consumers. The Department of Insurance in each state has to approve and authorize the rates to be released. This can take months to accomplish but it is the law. Once a states Department of Insurance approves the rates, the agents will receive them and the quoting process may begin. The best ones for this job are the independent insurance agents.

So how does an independent agent find the best life insurance rates?

Independent agents can shop the whole life insurance market and find out what company will offer you the best life insurance rates. This is unlike a captive agents such as State Farm, Allstate and Farmers just to name a few. The captive agents only can show you their one and only company which is normally not competitive.

The independent agents will work hard to do the research it takes to find the best life insurance rates. They will also run medical pre-screens to help them pinpoint the best life insurance company for you. They will also communicate with the insurance company underwriters to help allow you to receive the best health classification you can qualify for. 

Your agent works as a liaison between you and the insurance company

Being able to receive the best life insurance rates does not happen by accident. It is a byproduct of a lot of work on your agents part. Most people have no conception of how much work an agent does. Especially when you are in the process of applying for life insurance and expecting the best rates. It requires years of experience to be able to be able to get the best results. I personally have over 25 years of experience and work with over 40 of the best life insurance companies.

How do I know I am getting the lowest rates possible?

First of all, when you apply with a reputable agency such as ours. We will give you a quote sheet listing all of the most competitive companies along with their rates. You will see first hand what company would be the best fit for you and what the premiums will be. There will be no doubt that you are getting the absolute lowest rates possible. 

How to apply for coverage with Best Choice Life Insurance

Our application system consists of the most streamlined application process in the industry. We use the modern high tech SnapApp application system for all our applicants. This is a very refined telephone application that will save you time and allow you to explain all your answers to the questions. Take a moment to read our understanding the application process blog post to get to know what to expect when applying for your new life insurance plan.

Our final thought

Use our websites quote engine to compare instant life insurance quotes to help you get an understanding of what options you have. The rates are always current and up to date. You probably have quite a few questions you would like to get answered. Don’t hesitate to call us 7 days a week for all the help you need. There is never any cost or obligation for our help!

All the best,
Jack Venturi