How can I get the Best Life Insurance Rates?
Hey, what’s up everyone? Let’s talk about life insurance rates. If you’re looking for life insurance, you want the best rates possible. You want the lowest premiums and the most amount of coverage that you can get.
Everyone wants to know, “How can I get the best life insurance rates?” Well, hopefully I can help answer that question for you. There are three main things that a carrier looks at, primarily. It’s what determines you getting the best life insurance rates. There’s a lot more to it than this, but I’m going to keep it simple for you.
Number 1 is your health
That’s the biggest determining factor, is how healthy you are. What are you going through? What medications are you on? Have you been diagnosed with any health conditions? Has there been been left untreated? What are they in the middle of? Is there anything they are still testing? What is your health history?
If you’re getting fully underwritten, that means they have access to all of your blood work and all of your health history. On the other hand, if you apply for non-medical, they don’t access all that. But they do look at other things, including your Medical Information Bureau report and your driving record, among other things, so your health really has a lot to do with it.
Number 2 is your age
With life insurance, the older you get, the more expensive it gets. It’s never in your best interest to wait for better rates next year. In fact, if you’ve got a policy from a few years ago, chances are you’re never going to be able to beat those rates again. So hang on to that sucker.
But we always check just to make sure. Whenever I meet with somebody, I’ll always look for you. If it’s a recent policy, sometimes I can save you some money. But as you age, life insurance just gets more expensive because of the mortality rates. You’re getting closer and closer to life expectancy, so age is definitely a factor.
Number 3 is your build
In life insurance terms, your build is your height and your weight. There are different carriers with different parameters. They all have charts where they say, “if you’re this tall, you need to be up to this amount in weight.” Obviously, the heavier you are, they’re considering you a higher risk. Many heavy people are also very healthy. So they do factor in everything, but build is certainly one of the things that they look at.
Bonus: For the best life insurance rates, avoid smoking
Those are some of the first questions. It’s not on here, but the final factor I’m going to cover is whether or not you smoke. Smokers are more inclined to get other health conditions. Being a smoker is going to limit your options or make the options that you have available more expensive.
But know that it depends on what how you use tobacco. I do work with carriers who are OK with chewing tobacco, occasional use marijuana and vaping or e-cigarettes.
How can you get the best life insurance rates?
If you’re looking for the best life insurance rates, apply when you’re the healthiest and the youngest you’ll ever be. That’s probably today. And that’s why there’s an urgency. If you talk to an agent, they’re probably encouraging you to hurry with that decision. Because if something happens to your health or if you become a little bit older, those are all factors that can change your options overnight.
If you want to discuss more regarding the best life insurance rates available to you, I’d be happy to chat. Go ahead and schedule a quick chat and we’ll see what we can do. Otherwise, I hope this is helpful for you to understand how life insurance rates work. Have an awesome day. Bye.