Comparing Million Dollar Term Life Insurance Quotes
Purchasing a million dollar life insurance policy is much easier and less costly than you may think it is. Actually with today’s cost of living and high living expenses, a million dollar life insurance policy is not an unusual or rare purchase by no means.
Purchasing one or more million dollars of Term life insurance to protect your family’s financial future is inexpensive especially when you purchase it at a younger age and being in good health. These policies offer a ton of value for the premium you pay the life insurance company. You are welcome to use our Term life insurance quoting tool to compare rates. You can compare life insurance quotes from over 40 carriers on a side by side display.
The statistics show over 20 percent of the Term life insurance policies sold are for over one million dollars.
Let’s take a look at a $1,000,000 Term life insurance policy rate comparison with several age categories.
Gender- Male (20 year level Term) Quotes in Preferred Non-Tobacco
Age 25- Assurity Life- $550.00
Age 30- American General- $564.00
Age 35- American General- $614.00
Age 40- Protective Life- $829.80
Age 45- Protective Life- $1,339.20
Age 50- American General- $2,064.00
These rates are all for a male applicant but always remember females rates will always be even cheaper than the males.
The application process for a $1,000,000 policy would be very similar to a $500,000 or a $250,000 policy. The only difference is the para-med nurse that gives you the physical may have a few more medical tests and that will have an impact on you age, health conditions and smoking status and just how large of a face amount you apply for. There will be four basic health classes you may qualify for.
Preferred Plus– You must be in excellent health all the way around with no health problems or medication being taken on a chronic basis.
Preferred- Only minor health issues can be present such as Hypertension and High Cholesterol with prescription drugs being taken to control these conditions.
Standard Plus- We are still looking at minor health problems other than what the Preferred class will allow.
Standard- More controlled health issues that Standard Plus.
The underwriting process always varies from one life insurance company to another.
Not only is your health history very important. Your lifestyle such as your occupations and your sports or hobby related activities also are very important. If you have a high risk occupation such as an iron worker or a logger you can pay higher premiums because of the risk of being killed on your job.
The same thing holds true for sports activities such as sky diving, drag racing or scuba diving can also play an important part of your life insurance application. The best life insurance rates will also depend on the carrier that will give you the most favorable opinion of your specific situation. Thank you for reading our blog post Comparing Million Dollar Term Life Insurance Quotes.
At BestChoiceLifeInsurance.com we shop the market to choose the most applicable life insurance company that will offer you the lowest rates possible. Also locating the company that will place you in the best rate class is also very important. We do this for our clients on a day to day business so we have a lot of experience finding people the lowest life insurance rates for $1,000,000 Plus Term life insurance policies.
Life insurance companies like Banner, Transamerica, American General, Prudential and Protective Life offer the lowest rates.
We use over 40 A+ rated life insurance companies to search for the lowest premium you can qualify for. You will find that $1,000,000 life insurance policies can be very affordable. Feel free to use our Face Amount Calculator to help you consider what you face amount should actually be. Feel free to contact us for no obligation assistance in find the right plan for you. We have been helping people locate low cost term life insurance for over 20 years.