The
factors that an insurance agent or life insurance company would need to begin the quoting
process for life insurance include the type of life insurance policy, how much face amount of life insurance coverage, for how many years, your age, your height and weight,
state of residence, tobacco use and your general health status.
The life insurance carrier you apply with, and a number
of other factors control how much a life insurance policy will cost. Premiums
can be anywhere from a $10 per month to thousands of dollars per year depending on the factors mentioned.
The
risk classification is the most critical factor in determining the price you will pay for a life insurance policy. The risk class depends on a number of
factors including whether you're male or female, your medical history,
height/weight ratio, any tobacco usage, your family health history, occupation, hobbies, lifestyle, driving record, etc.
Keep
in mind, every life insurance carrier has their own set of underwriting guidelines, rate structure, and
mortality tables, and each may offer a different risk class for a given medical
profile.
Non-medical life insurance policies usually cost more than fully underwritten life insurance policies that require a physical exam because an insurance company is taking on more risk without having a full
medical picture of your health.
Here's how you can request life insurance quote comparisons online today to compare the lowest rates from several of the leading life insurance companies.
