4 Factors To Help You Get The Best Life Insurance Quote

When it comes to planning for your future, it’s never too early to consider the time you leave your loved ones. The earlier you begin planning, the better for your peace of mind. Getting a life insurance quote can make planning even easier.

Life insurance is one of the first financial products you should consider if you want to plan the right way.  The right life insurance policy can provide security for your financial future. 

With so many options out there, finding the best life insurance quote can be a bit of a challenge. You may have to shop around from one insurer to the next.  Comparing rates to get the best life insurance quote is standard practice.

Still, getting the best life insurance quote does not have to be difficult if you have the correct information at your disposal.  Also, shopping for quotes is a great way to be sure you’re saving on your life insurance policy.

Here are four factors that have the most impact on your life insurance quote:

AGE

Age is one of the critical factors that insurers look at when calculating your premium rates. Understanding how age affects life insurance can help you decide on when to purchase your policy. 

Buying life insurance in your youthful years comes with so many benefits. If you are in your 20s or early 30s and starting a family, you are likely to pay lower premiums than someone in their 50s or 60s. Younger people are considered healthier with their whole life ahead of them.  The expected low mortality rates mean a lower life insurance quote.

Since the policy will remain in force for a long time, the insurer knows that they can make more money from you. For this reason, they are willing to charge lower premiums for the duration of the policy even though the rates will increase 8-10% each year. 

The cheap premiums coupled with the number of years you have to pay for life insurance can benefit you and your family. 

SMOKING AND TOBACCO USE

Another great way to get the best life insurance quote is to quit smoking. Insurers do not tolerate habits that can lead to chronic conditions and ongoing health problems. It’s important to know that insurers do not prohibit smokers from buying life insurance.  Choosing to smoke means a person must be ready to adhere to restrictive terms, including paying higher premium rates.

Smoking can reduce your life expectancy and cause a variety of serious ailments, including cancer, chronic obstructive pulmonary disease, heart disease, and diabetes. The long list of health concerns caused by smoking and tobacco use explains why smokers pay different life insurance rates.

The insurer expects you to remain truthful during your policy application. If you are a smoker, you ought to reveal it in the application form. If you don’t, the insurer may refuse to pay out your policy if you die from a smoking-related illness.

OVERALL HEALTH

Life insurance quotes also depend on your general health. Some insurers may need you to undergo a medical exam to establish your health status before giving you a life insurance quote. If you have a chronic health problem, you may have to pay higher premiums.  Your condition might mean the insurer pays out your life insurance sooner than expected. In some cases, you may face policy denial if you are in poor health.

The good news is that you can increase your chances of getting a lower life insurance quote by improving your general health. Start by eating well and managing your weight.  Avoiding obesity gives you a better life insurance quote and can help prolong your life. Insurance companies usually check the Body Mass Index of applicants when calculating rates. Applicants who are obese also tend to pay higher premiums.

Remember to track your blood pressure and check your cholesterol levels to ensure that you remain in good health. Regular exercise can also help you maintain your health.  This will lead to getting the best life insurance quote and lower monthly premiums.

LIFESTYLE CHANGES

Your lifestyle can impact the kind of life insurance quote you can expect to get. Unhealthy lifestyle choices like drug abuse, excessive alcohol consumption, and smoking can attract higher insurance costs. Dangerous hobbies like skydiving, rock climbing, speed racing, and bungee jumping may also result in higher premium rates on your life insurance. 

If you want the best life insurance quote, consider changing your lifestyle. The whole point is to cut the risks involved. People who live a more conservative lifestyle enjoy lower premium rates. In any case, life insurance is a business, and insurers prefer to work with more responsible customers.

SO, WHAT NEXT?

Now that you know how to get the best life insurance quote, it is up to you to make a move. Shop around and compare rates from different insurers before deciding where to purchase your life insurance policy.