When Does Term Quote Not Make Sense?
For most people, buying life insurance or getting term quote is about providing a death benefit to those left behind when an insured person dies. That was the original purpose behind the concept of life insurance, and it’s still the leading reason that most people include life insurance in their financial planning. Life insurance industry has design a machine – A MONEY MAKING MACHINE that makes discounted dollars for your family when it needed most for their financial security and comfort. But the way we are getting term quotes today - in most cases does not make any sense as you will NOT be getting the same term insurance rates that you originally show in your term quote from a naïve local life insurance agent or an in-experienced website. Today term insurance companies are going through a severe price competition and to continue their market shares many term insurance companies play very smart term insurance quotes and rates games. They will show you something that is very affordable when you first called but, when you finally receive underwritten and approved policy from a specific life insurance company is totally out of budget or shocking! Why this is happening? To get the best rates you need to be in a best shape and fulfill Life Insurance Company’s many underwriting requirements. Following is the list of requirements from one of the cheapest and the best priced term life insurance company to qualify for their best or first preferred underwriting class:
Nicotine or Tobacco Use: No nicotine for last 5 years Blood Pressure: No Blood pressure treatment in past and present. The current and average readings in past two years not greater than 135/85 up to age 60 and 145/90 age 61 and over Cholesterol: Level cannot exceed 220. CHL/HDL Ratio: Maximum 5.0 with no treatment and with treatment greater than one year, maximum 4.5 Family History: No cardiovascular dieses or cancer in either parent or sibling before age 60 Driving Records: No DUI or reckless driving in last 7 years. No more than one moving violation or license suspension in last three years Substance or Alcohol Abuse: No history of substance or alcohol abuse or treatment Personal History: No personal history of cancer, cardiovascular dieses, diabetes or mellitus Residence: US resident for last 2 years and US citizen or permanent Visa or Green card. No intention to travel risky countries Occupation /Avocation: No hazardous occupation/avocations; Private pilot ok with exclusion. Active military not accepted. Scuba diving less than 30 feet
So you get the point! And, if you missed any one of by an inch and your premium will jumps to 25%, 50% or even double than your original term quote. Buying life insurance is more than comparing term quotes. It’s about getting right amount of life insurance protection for you and your family. It is about structuring your life insurance policy in a way so you can get maximum coverage with minimum dollars for the longest possible time, ideally until you die. Term quotes are good start but you need to consider many moving parts of life insurance policy to make sure you create a wealth for your next generation. We at BeamaLife believe in providing the most accurate term quote by asking you the most relevant information about your health, life style, family history and driving records. The more accurate and honest information you make available, the cheapest and most accurate term quote we can provide you. We are on your side and will do everything possible to find the best possible term insurance quote for you. Please call one of our life insurance specialists at (877) 972-3262 to find the best, cheap and most affordable term quote or for you and for your family’s financial security or complete thisshort form to compare top 100 best priced and highly rated life insurance companies now.