Los Angeles, California 11/18/2009 10:10:44 PM
News / Business

Term Life Insurance Premium Quotes

How do you get the best term life quote?

Most Life insurance companies generally look at an applicant’s age first when evaluating an individual’s life insurance premium.  The mortality rate of an individual is the focus when underwriting a life insurance policy.  However, mortality can be affected by many things other than just age.  Professionals called actuaries look at many facets of people’s health and behavior and apply statistical analysis to attempt to predict the future of an applicant.  Aside from age, your individual characteristics will play an important role in the cost of your term life insurance policy.  Your quote for term life insurance may be higher than for another person of the same age due to the following factors:





As the Discovery channel has taught us, some jobs are more dangerous than others are.  Life insurers evaluate the likelihood of your premature death based on your career choice.  If you are engaged in a high-risk occupation such as a fisherman, pilot, or logger, your rates will be higher. People who are employed in low risk office jobs or similar professions will enjoy lower term life insurance rates. 



Recent statistics show that women outlive men by about 5 years.  Insurers view this as valuable information when determining rates.  Across a wide range of insurance applicants, these five years can add up to significant premium dollars when multiplied by thousands of policy holders.


Overall Health

Because mortality is so important to insurers when determining a rate for life insurance, an applicant’s overall health is another primary factor in determining rates.  Someone with a chronic illness may face higher premiums or may face the possibility that no insurance company will accept them.



Dangerous people do not make good candidates for life insurance.  Smokers, alcoholics and drug abusers will pay higher rates, and may be unable to obtain life insurance coverage.  Healthy, non-smoking, non-drug using people may face a similar dilemma if they lead a dangerous lifestyle.  Those inclined to participate in highly dangerous sports for example may cause similar concern to a life insurance company.



Insurers will ask for information regarding an applicant’s family history.  If heart disease or other hereditary disease is present in your family’s past, an insurer can rate accordingly.  People that come from families with histories of hereditary health issues are likely to suffer those same health issues in the future, thereby maintaining an increased mortality rate.


With so many opportunities for insurers to limit are deny coverage to applicants, the search for term life insurance quotes may seem daunting.  Life insurance companies take many aspects of risk into account when evaluating applicants.  That is why rates can vary from one person to another.  Two people may seem nearly identical in terms of age and appearance, but they may look drastically different from one another in the eyes of a life insurance underwriter.  These differences will determine the rates and availability of term life insurance for an individual.


Lower premiums are available to those who can endure lifestyle changes when needed.  One of the best overall strategies to obtaining lower life insurance premiums is to buy term life insurance for as long you can, as early in your life as you can.




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for life insurance news and information.   We offer many life insurance planning strategies that will help you build your money with tax deferment.   Get an analysis today to see how you can maximize your life insurance policy.  Contact Vince Bagni of Paramount Life today to get accurate and usable information.