Life Insurance Quotes

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How Are Life Insurance Rates Determined?

Life Insurance Quotes

When you shop for life insurance online you can often get preliminary life insurance rates that help you compare while you shop. How can instant life insurance quotes be possible without a meeting? Insurance companies consider a variety of factors to arrive at fair life insurance rates for their consumers. Following is a tip on one of the biggest factors.

Your Health Rating Directly Impacts Life Insurance Quotes

• Insurance companies are interested in the health of their consumers. Depending upon how much insurance you are seeking, you will need to have a medical exam and answer questions about your health history. These two steps help the provider determine your health rating.

• Health rating categories are placed into classes such as super preferred, preferred, regular and standard. Individual categories are further divided based on the age and gender of the policy holder.

• Generally, a higher rating yields lower rates. In some cases, potential policy holders posing very high risk may be excluded from coverage or provided coverage at an additional premium.

• Policy holders with major health concerns should shop and compare widely. Additionally, they should work closely with an agent that has experience insuring individuals with their particular health concerns and knowledge about who offers the best rates under those conditions.

• If your health significantly improves, it is a good idea to work with your agent who may advocate with the carrier for reduced life insurance rates.

   

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