I am sure by now you have read articles concerning how to save money on the best Term life insurance or even the permanent plans designs referred to as “Universal Life. I am going to give you a simple 5 step checklist so you can follow this list to achieve receiving the lowest rates possible. These are the most important time proven ways I use everyday to secure the lowest premiums for our applicants. There are additional ways but these 5 are definitely the most important ones.
To make this list as effective as possible, I would recommend working with an experienced life insurance specialist from the very beginning so you can save time and experience a nice smooth process to saving money on your new life insurance plan.
Preparing the information from this list will help your agent to be more effective in helping you secure the lowest rates possible.
1. Prepare a list to give your agent of any possible medical conditions that could have a negative effect on your application. This list will make it possible to eliminate any unsuspected problems down the road during your application process. Keep in mind that any medical conditions you have will be provided to the insurance company in question by the many resources they use to acquire your medical history information. Here are just some of the conditions I am referring to:
- Medical conditions such as Hypertension, High Cholesterol, Overweight, Heart Disease, Mental Illness, Cancer, Diabetes, COPD, Tobacco use, recent surgery and the list goes on. To summarize this, any medical problems that you may have including any prescription medications you make take on a regular basis. This is the most important class of negative conditions a medical underwriter will be concerned with.
2. Consider your occupation to determine if you have a job that will have any impact on your rates due to on the job hazards such as:
- If you fly airplanes or helicopters for a living, Commercial Diver, Structural Iron & Steel Worker, Farmer or Rancher, High Tension Power Line Repairman, Commercial Logger, Commercial Fisherman, Toxic Waste Worker, Refuse Collector, Truck Drivers etc.
Most people shopping for the best Term life insurance with the lowest rates do not realize that a hazardous occupation, sport or hobby can have a serious impact on your final life insurance premiums.
3. Dangerous hobbies and sports is a very important category to be concerned with. You are going to want to consider if any of your hobbies and sports could put you in danger of being killed such as:
- Drag Racing, Stock Car Racing, Scuba Diving, Skydiving, Bungee Cord Jumping, Rock Climbing, Motorcycle Racing, Boat Racing, Hang Gliding, Mountain Climbing and other such hazardous sports.
4. Carefully consider your parents history of serious medical conditions (if any) that could cause you to inherit the the two major causes of death in the US which would be Cancer and Heart Disease. If your parents died at a young age from these two critical diseases, the history could be passed down from generation to generation.
5. The last step in the process to to make sure you are going to be applying with the most applicable life insurance companies for you specific underwriting information. This will include all of the above items on the list to seriously take into consideration. Exposing any possible negative aspects of your application will allow your agent to properly pre-screen your medical history and lifestyle to make sure you are on the best path to securing the lowest rates on your new low cost life insurance.
Simply using the most appropriate insurance company for your specific application could save you over 70% on your premiums.
Here is our service area where we shop the market to help our clients find the best low cost life insurance products at the lowest possible premiums.
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware,Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, District of Columbia.