Finding the Lowest Premium
With the help of your agent/broker, you should apply with the most applicable carrier for your age, health history and tobacco use status.
- Every carrier has their niche market. This will be the most important step that you will need to make in the very beginning. One carrier will be more liberal in the underwriting department when it comes to the age of their applicants, current health conditions and tobacco usage or not. Choosing the correct carrier is a critical first step.
- You will have the option for a fully underwritten application or a simplified issue type application.
A simplified issue type application which will have much less questions and usually no Para-med visit requiring you to take a blood test, blood pressure test, height and weight etc. Be advised that a fully underwritten type application will usually come through with a lower premium due to the fact the insurance carrier knows more about your health history and they are not going to be issuing you a policy without knowing exactly what they are getting themselves into. Insurance companies do not like surprises down the road unless they can help it.
- Do not consume any caffeine containing drinks such as coffee or tea at the time of your Para-med visit.
Large amounts of caffeine containing drinks can inflate your blood pressure and give a false reading of your blood pressure readings. This could trigger a Hypertension condition which will be noted by the underwriter that reads the test results. This also goes for eating rich foods like pizza and barbecued ribs and such just before your blood test which could indicate you have high Cholesterol when in reality you may not.
- Always and I will say this again, always tell the truth when completing the application in its entirety.
Not being 100% truthful will always be the worst mistake you can make. This can lead to your application being rejected and possibly being blackballed from applying with another carrier. The worst case scenario is your policy being rescinded when it comes time to make a death claim and the carrier investigates your passing before the make the payout.
- Keep in mind that your health history is the most important consideration that comes into play when applying for life insurance.
The better health a person is in, the lower their premiums will be. We do not always have complete control of what our health history will be like now or down the road. All we can do is go to the doctor on a regular basis, eat right and stay away from foods or drinks that could have an impact on our overall health. Feel free to use our quote engine to review the best Term life insurance quotes & comparisons.