Costs, sum insured, insurance premium, medical tests are a few things that everybody looks out for when they want a life insurance policy. It’s not so simple to get a life insurance policy, everything does not only happen on paper with just a sign. Before giving the policy the insurance company arranges for a medical check-up, just to know about the person’s current health. It is not mandatory for all the policies as there are some insurance policies that do not require a medical examination. Alternatively you will be asked some health related questions, sounds too simple but make sure that you read between the lines. At times the terms and conditions get neglected.
The bonus of having insurance without medical exams is that it prevents you from the tiresome medical tests and you get the policy sooner. To top it you don’t even need to experience any painful needles. Anyways let’s not only concentrate on the advantages of the Life insurance no exam policies. The first drawback that we can count upon is the sum insured that is often less than that of any regular life insurance policy. Usually the range of the insured sum s restricted from $25,000 to $500,000. It’s not only this but the insurance rates are also higher when compared to other policies.
For the ones who want a temporary insurance policy term life insurance is the best. Though they ensure you a financial stability but they do not congregate cash at the end of the term. Looking for more information’s about term life insurance cost? You can opt for a life insurance agent or log on to the Internet for the research. These days lot of online quotes are also available but you need to fill a questioner before getting the access to these quotes and term life insurance cost calculators will calculate about the best options that you can have. Some questions that are to be answered are as follows :
# Your state
#Date of birth
#Usage of tobacco products
#Length of term
#Return of premium
It is you who has to decide upon the cost of the term life insurance and it is not difficult. It involves a simple calculation. Multiply the exact amount that you earn in a year to 15 and the product is insurance coverage that you need.
Everyone wishes for a good term life insurance policy but if you can’t afford it then just reduce the term life insurance cost and still get good benefits. Young individuals get the advantage of lower premiums on the term life insurance policy so one should not wait for too long and get the policy at a young age itself. The amount of life insurance premiums gets reduced by lowering the term of the term life insurance and it overall reduces the insurance cost.
When you are selecting a term life insurance, make sure to compare the term life insurance quotes of more than two life insurance companies. Due to increased competition in the life insurance sector, many life insurance companies are offering discounts and rate cuts. When you call up a life insurance company, the phone executive can answer all your questions related to life insurance. However, if the conversation takes a longer time, it is advisable to call for an insurance agent from that same insurance company.
Most insurance companies are offering free advice when it comes to life insurance. The life insurance company agent will call you up and fix an appointment with you. Make sure to give him or her your exact contact details to avoid any confusion. There only one major drawback of calling upon an insurance agent who is attached with only one insurance company. The drawback is that you will get the quotes of only one company and you cannot compare it with the quotes of other insurance companies.
It is always advisable to consult an independent insurance agent because they give the quotes from multiple companies. One bonus point that makes everybody go for an independent insurance agent is their aptitude to give you a better deal because of the increased competition.
About the author
David Livingston has been involved in the insurance industry for a long time and is considered to be one of the leading expert in this industry. For more information on how to get affordable life insurance or getting life insurance quotes, visit his site today.