How We Guarantee The Lowest Life Insurance Rates
Being able to purchase the best life insurance products on the market and also be able to receive the lowest premiums possible does not come by accident. This process takes a professional strategy, knowledge and plenty of experience and here is how we do it. What you will read about are the five most important steps in achieving the correct life insurance plan design and making sure at the same time you do not spend anymore of your hard earned dollars than you have to. With all of the other expenses folks have today along with a poor economy, saving money on life insurance is more critical than ever.
Keep in mind that choosing the correct life insurance company is one of the most crucial steps in the process. All carriers underwrite life insurance applications differently. We utilize over 40 life insurance companies so we may shop the market for you, compare rates and be totally confident you are getting the lowest premium possible with the carrier in question.
1. The first step on the list is to analyze what purpose this life insurance is to be used for such as family financial protection, a request by a financial lender, domestic relations court order requirements etc.
2. Calculating how much of a face amount is needed to establish just the right face amount of life insurance protection to cover your financial liabilities but no more than is sufficiently needed which would only lead to higher premiums.
3. Establish what insurance carrier would be the most applicable choice which may involve pre-screening health conditions, hazardous occupations, dangerous sports and other specific information.
4. The next step is to get an understanding of your budget so you can comfortably afford a life insurance premium along with your other monthly expenses. We always make sure you will never apply a life insurance policy that is going to maintain a premium which will eventually become a financial burden for you. This is the worst possible scenario that could be encountered. As a rule, the higher the face amount the higher the premium will be. Some companies offer lower rates for higher face amounts policies than other companies and this should be taken into consideration.
5. The last step in the process is our important task of communicating with the insurance company underwriting department to make sure you are placed in the best possible rate class. This will have a major impact on the final premium. Rate classes are commonly known as “Super Preferred”, “Preferred”, “Standard Plus”, “Standard” etc. Being able to qualify for the very best rate class will make all the difference in the world when it comes to the final premium.
Rate classifications are rarely understood by consumers and they don’t understand how important being able to qualify for one rate class to another really is.
One of the most important jobs of a good life insurance agent is to be able to help promote the underwriters to place their clients into the best possible rate class their client will be able to qualify for. This will enable them to receive the lowest Term life insurance quotes.