If you are in perfect health, it’s easy enough to qualify for the best risk classification with the lowest cost for your life insurance coverage. The numbers are displayed on many web sites and easy enough to find (free instant life insurance quotes are even offered on this site). Those low premiums, however, are not available to everybody (only about 15% of all applicants qualify for them). A quote means absolutely nothing if you could never qualify for it in the first place, right?
A few examples:
- If your weight is too high relative to your height, the insurance company may automatically put you into a different risk classification (at a higher premium). Every company has different height/weight guidelines, so other companies may still offer a better rate. This information can be more difficult to find without the help of an independent agent.
- If you take certain medications (high blood pressure and high cholesterol prescriptions are the most common) some companies may assign a different risk classification (at a higher premium). Again, other carriers may still offer the most preferred rate.
- If someone in your family has been treated or died before age 60 for heart disease or cancer, some companies may automatically disqualify you from the preferred risk classes, even if you are in perfect health otherwise.
- If you have been personally treated with a certain medical history (such as diabetes or other conditions), you may be considered for high risk life insurance at a higher cost.
An independent broker (such as us here at TermInsuranceBrokers.com) can help you shop the case among a large number of the best life insurance companies to determine which will give you the best final offer, not just a price that you may not qualify for anyway. This process should be completed before you submit a formal application for coverage. If you find out ahead of time which program will provide the best rates, you will be sure to get maximum coverage at the lowest possible cost. The agent will check everything out for you at no additional charge – it’s part of the service provided to help you purchase what you need.