If you reside in the Windy City and you are in the process of comparing Chicago life insurance quotes, this blog post should really help you out and answer many of your questions. With well over 40 life insurance companies to choose from, you have an endless list of options to choose from. Purchasing life insurance is one of the most important products you can purchase. Life insurance can guarantee financial security for your dependents an give you piece of mind knowing if something happened to you, your family will be able to keep living their normal lifestyle and not suffer a financial disaster that could change the course of their lives for ever. After you read this blog post you will have a good understanding on how life insurance works and how to get the best plan design, face amount and the lowest rates possible.
The first piece of advise I can give you is to connect with an experienced insurance broker that specializes in life insurance.
By seeking the help of an experienced life insurance agent or broker you can take advantage of his or her experience and prevent you from wasting any of your valuable time. Life insurance can seem complicated and you can spend weeks reviewing Chicago life insurance quotes from multiple websites and not get anything accomplished other that getting more and more confused. The best part is there is no cost or obligation for and agent to do all the leg work for you. Nowadays you can compare life insurance quotes on a side by side basis in less than a minute. You be able to see what company has the lowest rates. What you will also learn that life insurance rates will depend on a number of variables that will have an impact on your rates such as you health history for one.
Your health history will play a big part when attempting to secure the lowest life insurance rates.
If there was ever and category of variables can could impact your life insurance rates it is your health history with no close second. By just looking at the very basics, healthy people life longer and unhealthy people live shorter lives. Common health conditions like high blood pressure, high cholesterol, anxiety, obesity, type 2 diabetes, asthma, depression and many others will effect your final premium.
We normally run a free medical pre-screen for our perspective applicants so there are not surprises when the application has been approved. The surprises I am referring to are the rates going up after the underwriting process has been completed. A pre-screen also helps us determine what life insurance company to use. All companies underwrite their applications differently so choosing the correct company is critical in obtaining the lowest rates.
The two plan designs you want to be familiar with are Term and Universal Life.
The important information to remember is Term life insurance is a temporary for of life insurance and Universal life is the permanent plan design that will last the rest of your life. Term life insurance runs in increments of 5, 10, 15, 20, 25, and 30 years of term length. If you have a term policy and your term period is expiring you will have the option of converting your term policy to a permanent Universal life policy but the only side effect is the premium may very well be too costly at that time. Make sure you apply for a long enough term period to fit your situation.
The Universal life policies on the other hand is a permanent type policy that will run the rest of your life. The universal life policies do cost more but you don’t have to worry about them terminating as long as you keep paying the premiums. An excellent way to build a nice life insurance portfolio is to have a combination of Term life insurance and Universal life together. The term plan design would have a higher face amount with a lower premium for the most financially volatile years and the Universal life would have a lower face amount which would be all you would need since you main expenses are over such as college tuition and a home mortgage in Chicago.
There are many excellent companies and plan designs offered at new lower rates to choose from such as:
AIG American General, Allianz, American Equity, American National, Assurity, VIVA, AXA Equitable, Banner Life, Equitrust, Fidelity Life, Fort Dearborn, Genworth, Gerber Life, Gleaner Life, Great American, GTL Insurance, ING, John Hancock, Liberty Bankers, Lincoln Financial Group, Mass Mutual, MetLife, Minnesota Life, Mutual/United of Omaha, Nationwide, New York Life, North American Life, Old Mutual Life, Phoenix Life, Principal Financial, Protective Life,
Prudential Life, RBC Liberty Life, Royal Neighbors of America, Sagicor Life,Savings Bank Life Insurance (SBLI), Standard Life Insurance, Transamerica, Voya Life, Western Reserve Alliance & William Penn. These are just some of the many companies you have to choose from. As the years go by the existing companies will open new subsidiary companies which will then become more good choices for Chicago residents.
Don’t hesitate to run your own Term life insurance quotes on our websites integrated quoting system.
Our quote engine will display all the most competitive Term and Universal life insurance quotes side by side so you can see how each company compares to one another. You will also be able to view No Medical Exam Term life insurance plans which require no medical exam and have approval times between 24 and 48 hours after you apply. We try to make comparing Chicago Term life insurance quotes online as simple as possible. Just keep in mind that variables such as health conditions, tobacco use, height & weight issues, driving records and a few other underwriting criteria can make a difference in your final rates. We can pre-screen any of these situations so you can get a more accurate idea of what your rates would be if you applied. We utilize over 40 companies to make sure are clients can get the lowest rates possible.
Don’t hesitate to call us toll free 7 days a week and during evening hours. You can learn more about us and our business by visiting our About Us page. Thank you for taking the time to read this blog post. I hope you have a better insight on what life insurance is all about and understand what is involved in securing the lowest rates on Term life insurance for residents of Chicago. Don’t hesitate to call us with any questions you may have. There is no cost or obligation for our help.