Cheapest Life Insurance
How to get the best life insurance rates
I am often asked about getting the cheapest life insurance rates. Everyone wants a good deal and it is my job to find the best possible rates for a customers current health and financial situation. Take 5 minutes to read my article and you will be one step ahead of other people looking for life insurance!
Cheapest Life Insurance
The cheapest life insurance rates are generally going to be for those that apply for a Full Medically underwritten plan. This means taking a physical exam at your home or office. The physical exam generally involves : Blood Draw, Urine Sample, Height and Weight , Blood Pressure check and filling out a questionnaire. The entire process takes about 20 or 30 minutes. Some people hate needles and for this reason they will consider applying for a No Medical Exam plan.
Another consideration is that full, medically underwritten plans, can take 6-8 weeks to finalize. If you need a policy in place in a faster time frame then this might be another consideration for a No Medical Exam plan.
Make sure you have an honest evaluation of your own personal health. Your health greatly impacts the policy premium. If you have a pre existing condition such as High Blood Pressure or Type Diabetes etc., you can generally get a plan but you need to work with a broker, like myself, who know how to place cases when the applicant has health impairments.
Take a look at your budget and make sure that you can make your monthly premium payments. Do not take out a policy if the premium payments are difficult to maintain. Better to get a lower face policy amount , with an affordable premium, than to try and handle a big payment that will cause you financial pain.
There are certain carriers that always show up on my quote results, especially if my potential customer , lists their health class as Preferred. Certain carriers want that business and will be aggressive in pricing to ensure they capture a good portion of that business. That is good for the consumer, but you need to work with an experienced agent who will first qualify you for the plan versus just applying and seeing what happens. If you work with an agent who says “let’s apply at the cheapest rate and let the insurance company come back to us with an offer” is doing you no favors. You could be wasting your time and you will become aggravated with the entire process. Work with an agent who will ask you probing questions , this means they want to find the best rate based on your current situations.
No Medical Exam vs Fully Underwritten Plans
As mentioned before Full Medically underwritten plans involve a medical exam and obviously, no medical exam plans do not. Both plans do a background check that will include your Medical Information Base check ( Kind of like your Credit Report for health), Pharmacy check and DMV report.
Since the no medical exam carriers do not bother with the medical exam , two things you need to know:
The Good: Your insurance plan can generally be in place within a week or two.
The Not So Good: Your monthly premium will generally be higher.
Work with an independent broker who is not married to one particular carrier. This gives you the widest variety of quotes. Make sure you disclose all health issues, if any, and disclose any DMV problems. Being upfront with your agent is the best way to ensure that you get the cheapest life insurance plan.
Contact me today for a no obligation, no hassle quote. It is always best to call. My number is 512-963-5000. You can also, if you prefer, fill out my contact request form and I will give you a call.