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On todays standards, women are very much the equal to men any day of the week. Many females today make up a strong percentage of Doctors, Lawyers, Judges, Corporate Executives and more elite professions. It is now very common to find the female gender shopping for Term life insurance quotes for women. They have the financial liabilities just like their male counterparts so naturally they have a need for life insurance too.
Women actually have one big advantage over men pertaining to life insurance. Female rates are at least 20% less than male rates. This is due to the simple fact that women live longer than men. They also watch their diet closer and visit the Doctor more often than men do. This reduces the risk for the companies and they pass along the savings.
OK ladies, let’s start learning about the basics of life insurance and how to get the lowest rates once you apply.
This article is designed to help you ladies shop for life insurance and understand what happens throughout the quoting and finally the application process. After you read this article you should have a much better knowledge of the need for life insurance and how to apply and get the lowest rates possible. All you need to know is the basic fundamentals of the different plan designs. Once you have this working knowledge everything else will fall into place.
There have been many women holding the highest job titles in corporate America.
Women like Sheryl Sandberg Chief Operating Officer of Facebook, Indra Nooyi CEO of Pepsi Cola. Irene Rosenfeld CEO of Kraft, Virginia Rometty CEO of IBM, Ursula Burns CEO of Xerox, Meg Whitman CEO of Ebay. Marissa Mayer CEO of Yahoo, Sheri McCoy CEO of Avon and many more. The business world today is loaded with high powered women running huge corporations. The moral of the story is there is a major need for life insurance for women today. Unlike many years ago, life insurance looked like an insurance product most women would never need.
Many women today are professionals and have just a high of an income as their male counterpart.
Life insurance is becoming more important than ever for females to purchase. Their income being lost to a
sudden demise could easily become a financial tragedy to their family dependents well being. This was traditionally the case with the man of the house because they were normally the main income creator in the family.
Life insurance is now recommended for the husband as well as the wife in the average family. Even if the wife does not work, there would still be a considerable financial loss. If the mother of the children unexpectedly passed away. The children would have have to taken care of by Day Care while the father is at work. Hiring a Day Care center take care of the children can get very expensive. It could consume a large percentage of the fathers monthly income. This could leave the family in financial jeopardy to say the least.
Let’s take a close look at Men’s rates vs. Women’s rates.
We will run a quote for a 35 year old male in the preferred non-smoker rate class with a face amount of $250,000 and a 20 year term period. Then we will compare the rates for 35 year old females using all the exact information. Finally we will examine the life insurance quotes for women in comparison.
Male Rates:
- Banner Life – $202.49
- Protective Life – $203
- United of Omaha – $217.50
- Transamerica – $220.00
- SBLI- $222.50
- Prudential – $277.50
Female Rates:
- Banner Life – $179.31
- Protective Life – $179.54
- United of Omaha – $195.00
- Transamerica – $207.50
- SBLI- $192.50
- Prudential – $225.00
Comparing Term life insurance quotes for women is very important. This is due to the fact some companies offer a larger reduction in women’s rates than other carriers. If you need some help with deciding your projected face amount (death benefit) use our websites very simple face amount calculator. Just fill in the blanks and it will give you a good idea what an appropriate face amount will be.
Low cost Term life insurance is going to give you the most financial protection with least amount of premium.
Term life insurance is very affordable and the ladies can purchase a large face amount at a very affordable premium. If a permanent life insurance policy is required, Universal Life will work out great. Especially from a good company like Banner Life, Protective Life or Transamerica. These companies offer excellent permanent life insurance coverage for life at a very reasonable premium.
Low cost Term life insurance and permanent Universal Life can be purchased together. This is a great way to create a perfect life insurance portfolio and save money at the same time. Comparing Term life insurance quotes for women can easily be reviewed on our quote engine. Feel free to use the quoting system we have integrated to our website. All the most trusted companies can be compared side by side in the matter of minutes.
No Medical Exam life insurance can be approved within 24 hours and eliminate the need for a physical exam.
You also have the option of purchasing No Medical Exam Life Insurance also. This is a great way to go if you need your insurance fast. It is also great if you do not want a physical examination. Quite a few people do not like blood tests so this type of plan design can make quite a few people happy. No Medical Exam Life Insurance can cost a little more that fully underwritten policies. One of our favorite companies for these types of policies is the Lincoln National Life Insurance Company. You can get some of the best life insurance rates with no medical exam.
What could have an effect on the premium I will pay?
Here are just some of the negative causes that could effect your final rates;
- Smoking and other forms of tobacco use. Nothing can add to the cost of life insurance more than smoking especially cigarettes. There is a much higher risk of dying from smoking related diseases. Life insurance companies charge a considerable premium for using tobacco. This major increase in premium can be as much as 2-4 times as expensive as a non-smokers policy. How much tobacco you use also makes a difference in your rates.
- Dangerous sports and hobbies. Hazardous sports interest many thrill seekers, but they can also do a number on the rates you pay. Some of the companies will allow an exclusion on the hobby or sport which would eliminate the added expense.
- Your overall health condition. Anytime you apply for life insurance, the insurance company will ask you many different questions in reference to your current health condition. More serious health conditions add an added risk to the mortality rate. Applicants with certain types of health conditions will have to pay a higher premium vs. a very healthy person due to the added risk factor.
- Your current age at the time of the application. Life insurance rates and premiums are based off of mortality tables the companies use. Your age is going to be a huge factor. Applying for life insurance when your young is the very best time to apply.
- Your mental health also plays a big part in your rates. People who are suffering illnesses such as major depression is a serious risk for a life insurance company. There is always that threat of a possible suicide. Most companies want to make sure you are under the treatment of a doctor so the illness does not get worse.
When is the best time to start comparing Term life insurance quotes for women?
Right now is the best time to start shopping for life insurance. As each year passes, the quoting rates will go up which means the premiums will go up also. The longer you wait the more your life insurance will cost. The only time you would ever want to wait is if you were scheduled to have surgery soon. You can sometimes hold off if you quit smoking a few months ago. If you wait one full year you will be able to qualify for preferred non-smoker rates. If an individual is overweight or obese they can wait until they lost weight to apply.
The only side effect is while you are waiting, you are also uninsured. You can actually purchase life insurance when you are overweight and then loose weight and then re-apply. You can even do this by contacting your current company and asking for a rate reduction. As long as you have the weight down for a period of one year, you can get a rate reduction.
Quick & simple telephone applications are the easiest and quickest way to apply for life insurance.
The modern telephone applications make it very easy to apply for life insurance for women. Especially when compared to the older
method of using a long paper application. As the years have gone by, the life insurance rates have gone down thanks to modern medical science breakthroughs which enable people to life longer than they ever did. This has lowered the rates on a regular basis simply because of the risk factor being lower. Healthy people can always get the best life insurance rates.
If you have any medical conditions the final rates of your application could be affected. The best way to handle this situation is to have your agent run a quick and very simple medical pre-screen. This can eliminate any surprises that could arise later on down the road as the application is getting closer to being approved.
Choosing the most applicable life insurance company to apply with is one of the most important decisions to make.
All the best life insurance companies underwrite their applications differently. What might be the best company for Betty may not be the best company for Jane. An experienced life insurance agent can decide which company to apply with based on your specific information and lifestyle. This can make all the difference in the world when you make the final decision to apply. Your final life insurance rates will have a major impact on what company you choose to apply with. As I said before, women live longer than men, so choose the correct company and you should be destined for receiving some low life insurance rates.
Independent agents give you the best advantage to find and secure the lowest life insurance rates.
Working with an independent agent will always give you the very best advantage of getting the best life insurance rates. This is because independent agents normally represent many highly competitive companies compared to a captive agent. The captive agents would be working for one company such as State Farm or Farmers. They could only show you the rates for their one company. We utilize over 40 trusted and competitive life insurance companies so we can weigh all your options for you.
Your agent will take the confusion out of purchasing life insurance and ensure you receive the best rates.
Shopping for Term life insurance quotes for women can seem overwhelming at times. There are a lot of variables to stop and consider and you want to make sure that you’re always making the correct decision. Contact us today, we’re here to help you.
We can be reached via phone, toll-free, by calling 800-897-5699 7 days a week. Thank you very much for taking the time to read this article.
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