Insurance is the process in which money is collected from various people within the society and distributed among them when the insured event, which is mostly unforeseen, occurs. Stress is being put on the word unforeseen because the main benefit of insurance is that it tackles emergencies. The need for insurance was felt in the early days when there was a lot of destruction from natural elements such as fire, floods etc. The insurance industry has come a long way since then. Let me now tell you something about the development of insurance since then.

The life insurance policy that was first to be introduced is the traditional cheap term life insurance and it is prevalent even to this day. Term life insurance is the form of insurance where you avail nothing but death benefit. This form of insurance continued for sometime until cash back policies emerged in the insurance industry. People generally began to like cash back policies for various reasons.

In term life insurance, if you survive the term, no benefits are paid. However, in cash back policies you can get some returns even if you survive the term. The condition of no payback creates a problem in term life insurance that if one chooses a term duration which is insufficient then one may survive it and if he renews the term the term life insurance cost goes up. However, in cash back policy one can get some part of the money back which would be helpful. This would increase the utility of cash back value to a great extent for any insurance buyer.

One of the best ways of buying life insurance would be to divide the investment intelligently between term life insurance and other pure capital investments. This would help increase your returns to a great extent. There are several factors you need to take care of when buying a policy:
1. You need to buy the policy at a young age which would reduce insurance rates on your policy.
2. Your term period should be chosen carefully. It is better if you choose a longer term because it would suit your needs better and make it easier to manage the policy effectively without renewing your term several times.
3. Using tobacco and alcohol would not only damage your health but also insurance prospects due to increased risk of contracting several illnesses. If you quit smoking, you can get a reduction of upto 50% in insurance rates.
4. Obesity and high blood pressure can be detrimental to your life expectancy which would attract higher insurance rates for your policy. You can take up physical fitness seriously.

If you are too busy to appear for a medical test you can opt for life insurance no exam option. Most of the people resort to this option when they have a medical condition at the time of buying policy This policy lets you get life insurance cover without undergoing a medical exam to assess your insurability. It is a simplified issue policy which can be bought instantly from the website of the insurer by filling out an online health questionnaire.

This is a policy, which will suit busy and successful people to the hilt. Here you do not have to undergo the standard medical tests that are otherwise required by the carriers. Moreover, if you feel that you are not satisfied with the services of an agent then you can leave him and apply online. You will get quotes online. Then the form can be filled up and service will be provided instantly.

It is also important to work on your underwriting profile while looking for any kind of insurance option. Every insurance company has its own set of underwriting guidelines which serve as eligibility criteria for those seeking life insurance. One can improve his underwriting profile to meet the underwriting guidelines of the insurer. This would help a great deal in getting the best insurance rates and attractive features on your policy it is also important that you do not hide any issues form your insurer or it could result in later negative consequences for your policy. It is better to discuss any issues and sort them out to get the best results possible.

You can opt for specialized insurance options instead of sticking to life insurance no exam option when looking for a life insurance option. These options offer competitive insurance rates based on the severity of the medical condition. If you have a good level of health management, you can also get attractive features on your policy. If you manage your condition well enough, it would increase your life expectancy and help you get affordable life insurance rates for your policy which would make it easier to manage the policy in an intelligent manner.

About the author

Article by David Livingston of, a website with the best term life insurance quotes and life insurance quotes information in the country.