Although there are not many discounts available on life insurance, consumers can take steps to compare rates and get cheap term life insurance quotes online. Understanding the methods life insurance companies use to rate and calculate term life insurance rates can help individuals get the lowest quotes online for the life insurance they need. Most people can save money by improving their health, lifestyle, habits and increasing their life expectancy.
Non-Smokers Get The Lowest Rates
Everyone knows that smoking leads to serious health problems and shortens life expectancy. When people quit smoking, they reduce their risk for cancer, heart disease, stroke, emphysema and chronic obstructive pulmonary disease (COPD), which substantially increases life expectancy. Consumers who are serious about getting cheap term life insurance do not smoke. Life insurance rates are based on the risk of the insured person dying prematurely and smoking increases the odds that a person will not reach the average expected life span used when calculating life insurance quotes.
Obesity and Serious Health Problems
Obesity is now known to be associated with a number of serious health conditions including hypertension, cardiovascular disease, Diabetes type II, sleep apnea, stroke, gallstones and high cholesterol. As with health problems associated with smoking, these conditions are known to significantly shorten expected life span. Losing weight and eating a healthy, balanced diet increases an individual’s life span and helps them get the best rates for any type of life insurance.
The importance of regular exercise in promoting both the quality and quantity of life is clear and insurance applications, companies, and underwriters may ask how often an applicant for life insurance engages in physical exercise. People who engage in at least 30 minutes of aerobic exercise 3 times a week substantially increase their life span and reduce their odds of developing serious medical conditions. The cheapest term life insurance quotes online will be given to life insurance applicants who exercise on a regular basis.
Buying Life Insurance Young
Since younger life insurance applicants will have a longer life expectancy than older applicants, the rates are always best for younger individuals. This is especially true of permanent life insurance rates, since the rates never increase over the insured person’s life. Term life insurance rates are also lowest for younger people, but term life insurance may have to be renewed at a higher rate when the term expires. There is no discount on term life insurance like youth, so it is wise to plan ahead and get life insurance as early as possible.
Employer Group Life Insurance Rates
One of the easiest ways to get an affordable term life insurance quote is to get life insurance as part of an employee benefits package. Employers negotiate special group rates with life insurance companies and often pay a portion of the premiums. The major disadvantage of employer group life insurance is that there is usually a limit on the amount of life insurance that can be bought which may be less than the amount needed by an individual. The cheap term life insurance quote for a group insurance policy makes it a good alternative to private policies.
Affordable Term Life Insurance
Employers are not the only ones who offer a group discount on term life insurance policies and rates. Professional associations, some credit card companies and organizations like the American Association of Retired People (AARP) also negotiate with insurers to give their members low cost term life insurance. An advantage of group life insurance is that it is often easier to qualify for these group policies than it is to qualify for a private policy. Consumers seeking a discounted term life insurance rate may be able to get group rates through their membership in an organization.
One of the few discounts offered on life insurance is the bundling discount. To qualify for a bundling discount, an individual must buy multiple insurance policies from a single insurance carrier. These insurance policies can be for home, auto, health, boat, or RV and the insurance company will give a discount on all the policies the person buys. Bundling discounts can be as much as 25% on each policy. By buying all their insurance needs from one source, consumers will certainly get cheap life insurance quotes and discounts on all their other insurance policies too.
Compare Life Insurance Rates
Comparison shopping is a tried and true way to save money on almost any type of product. While some people may not qualify for a low term life insurance rates, they can still save money by comparing the rates of different life insurance companies for the same coverage. Independent life insurance websites, like TermLifeInsuranceQuotes123.com, offer consumers free and instant term life insurance quotes online from multiple companies so consumers can perform side by side rate comparisons. While this may not be an actual discount, comparing term life insurance quotes online ensures an individual gets the lowest term life rate possible.
Requesting Term Life Insurance Quotes
To request a free term life insurance quote, a consumer simply enters their zip code, chooses a term life insurance company, and answers a few simple questions. The questions should be answered truthfully to get the most accurate term life quotes online. Once the information is submitted, the life insurance company immediately returns multiple life insurance rate quotes. The quotes are free and without obligation. Using TermLifeInsuranceQuotes123.com, consumers can find the insurers that offer the lowest life insurance rates. Getting a free quote online takes only minutes and all your comparison shopping can be completed from the comfort of home.
Buy Term Life Insurance Online
Once consumers have compared term life insurance quotes online, they can apply for a term life policy. The actual cost of the life insurance may be higher or lower than the quote since it is based on the more detailed information contained in the application form. Some life insurance companies require that applicants undergo a medical exam before they issue a policy. Another benefit of buying life insurance online is that online quotes eliminate an insurance agent’s or broker’s commission, helping you save more on your coverage.
There are many different ways to find affordable rates and get cheap term life insurance. Individuals can take a proactive approach by improving their health while looking for ways to get discounts through employers, organizations or with insurers that carry their other policies.