Millions of gun owners including myself have been NRA members for many years and I will always continue with the tradition. The NRA is one of the greatest organizations ever created and we would have lost our 2nd amendment rights a long time ago without them. The one fact you probably don’t realize is, they do not sell life insurance either now or in the past.
They have never been in business selling any form of insurance products much less life insurance as I will explain below. If you are shopping for life insurance for NRA members and you are a member, this article will answer most of your questions.
Table of Contents
- Purchasing Life Insurance for NRA Members Is Simple
- The NRA Life Insurance Misconception
- Life Insurance Rates Are Regulated by Law!
- How to Find the Lowest Rates on Life Insurance
- Pre-Screening Your Information Before You Apply
- How Can You Be Sure You Are Getting the Best Rates?
- How Your Rates Are Determined
- Common Mistakes Most Life Insurance Shoppers Make
- What Type of Life Insurance Should You Buy?
- What Companies Have the Lowest Rates?
- Women Pay Less for Their Life Insurance
- In Conclusion
Even though the NRA ad is not considered false advertising, they claim “it reels in a lot of fish” for an insurance agency in California that actually sells life insurance. However, this kind of advertising gives consumers the idea that the NRA is going to give them special rates on life insurance. There are no special rates on any life insurance and I am also referring to any type of group rates which do not exist as well. Many NRA members don’t realize this.
The NRA is not connected with the life insurance industry. They simply are in business to protect our 2nd amendment rights and they do a great job at that. If you look closely at their ad, they do allude to the fact that this is not a discounted product.
Here is the wording on the NRA website:
Individual Term Life:
“Let us help you get life insurance checked off of your “to-do” list. Life Insurance Central guides you through the process until you’re covered”.
- Our office shops a very large market of companies which exceeds over 40 top rated carriers and our list continues to grow.
- We are not a large call center that runs an assembly line of agents that have to meet a quota of policies sold each day. We take our time to make sure we have always find our clients the lowest rates available, period.
- Every applicant is carefully pre-screened before we have them apply with any company which eliminates any underwriting surprises later.
- We submit applications to multiple carriers to see what carrier will offer the best rates.
- It is very common for us to check with several other companies after our new client has been approved, just to double check for any other rates which may possibly be lower.
- We always insure that all NRA members are approved with the lowest rates possible and have an excellent experience throughout the application process.
You can run website quote engines to you’re blue in the face but you may be looking at rates that you may not qualify for. If you have medical conditions, a hazardous occupation or a dangerous sport among other concerns you need a insurance professional to review your information. There is nothing worse than applying for life insurance and then having a big surprise when the application process is over.
Knowing what company to apply with is extremely important and an application pre-screen can help you and your agent choose the best company. Once you apply with any insurer, that application goes on your record for all the other companies to see. You want to make sure you apply with the right company that is liberal towards any related issues you may have.
The easiest way to make sure you are going to get the best rates possible is to compare the rates of all of the most competitive companies side by side. You may easily do this with our websites quoting system. The rates you will see are being pulled directly from each insurers data servers. If their rates fluctuate up or down, they will immediately be reflected on our quoting tool.
We will also perform this quote comparison process for you at no cost or obligation. You will definitely know what options you have before you consider completing an application. This will give you an idea of what companies will offer you the best life insurance rates and be the smartest choice to apply with.
If you have any medical conditions, a medical pre-screen would be recommended. This is a simple process of determining what company will give you the best offer. We always communicate with the various companies underwriting teams first before you ever apply.
Having any medical conditions can impact your rates. Even having a risky occupation or sport can raise a red flag. Get a 5 minute medical prescreen and eliminate any surprises before you apply.
These are the basic categories the insurers look for to determine your health classification.
- Health History (Medical Conditions)
- Tobacco Use of any Form
- Occupation (hazardous types)
- Sports & Hobbies (dangerous types)
- Driving Record
- Parental Health History
- Medications Used
- Height & Weight
- Navigating from one website to another looking at the same companies. You will actually be reviewing the same companies and exact same premiums over and over.
- Quoting life insurance plans and using the default health class of “Preferred Best” where in reality this is a rate class you may not qualify for. If you have any serious health conditions, it is best to contact us for a medical prescreen and a life insurance quote right over the phone.
- Quoting face amounts that will be more or not enough of what you actually need.
- Review plan designs that you don’t fully understand such as Term, Whole Life, Universal Life, Non Med, Return of Premium life and a number of others.
The statistics clearly show that women outlive their male counterparts. The life insurance companies reward them with approximately 15% lower rates than men. The simple reason for this is. Females see a doctor more often than men do so potential medical conditions can be caught and treated much sooner.
The females also normally take care of themselves better than men do. Keep in mind that this is not my personal opinion, it’s a well known medical fact. If you are a female and you are going to compare rates on our websites quoting system. Make sure to check female in the gender menu. The rates are quite a bit lower.
The Best Way to Find the Best Plan Design With the Lowest Rates
- Find a life insurance website you like with a quoting tool and just stay put. The rates are all regulated by law.
- Learn how to understand the health classifications and use the one that applies to you.
- Carefully calculate and choose the face amount you are really going to need to satisfy your specific financial liabilities.
- Do your research on the different types of life insurance plan designs before you even look at premiums. We will answer all your questions 7 days a week.
The quickest and most efficient way to shop for life insurance is to simply work with an independent agent (broker) and let him do all the work for you! This is an agents job and there is no cost or obligation for an agents help.
You have three main choices in plan designs.
- Term life insurance – Keep in mind that term life insurance is a temporary product. These plan designs will pay a death benefit during a specified term period usually between 10-30 years. Banner Life now offers 35 and 40 year term policies also.
- Universal Life – This permanent form of coverage referred to as universal life will stay in force for the life of the insured.
- Whole Life – This is the oldest form of life insurance in existence. The plan design known as whole life insurance provides permanent coverage with the addition of a cash value savings component.
Term life insurance is the number one choice with absolutely no close second. Term has the lowest premiums and because of this, you can purchase a higher face amount (death benefit) and still be able to afford the premium. Also the no medical exam policies are a great choice if you want to eliminate an exam.
If you find you need a permanent policy, Universal Life would be the product for you. Whole life insurance is far too expensive to ever be cost effective. Whole Life is usually used for final expense policies and policies for babies and young children.
There are many excellent life insurance companies you can choose from. The best life insurance company is going to be the company that offers you the best rates. This will depend on your specific information such as age, health, occupation, and lifestyle. We work with over 40 top rated companies but here is a basic list of some of the ones with the lowest rates.
- Banner Life
- Protective Life
- John Hancock
- American General
- Assurity Life
- Principal Financial
- North American
- Lincoln Financial
- SBLI (Savings Bank Life Insurance)
Did you know that all life insurance rates are regulated by law? This means that bouncing around from one website to another running multiple quote engines is totally redundant and a waste of your valuable time. Most NRA members have better things to do than look at duplicate website information. The insurance companies publish the rates and they do not vary regardless of who you apply with. Speaking of rates, you can compare them on our instant quoting system.
It always pays to take your time shopping for NRA life insurance. Give us a call today and we will answer all your questions and get you pointed in the right direction. We will show you all your options so you feel confident in what product would be a good fit for you.
If you decide to apply, we will walk you through the simple process one step at a time. Remember, we will be happy to answer any of your questions you may have concerning life insurance with no cost or obligation. I hope this blog post has helped you and other NRA members learn more about life insurance and how to get the best rates. Don’t forget to keep your powder dry and get out there and shoot!
All the best,
Take a minute to set up a time to discuss all your options at your convenience. We are available 7 days a week and evenings.