Finding the lowest life insurance rates that fit your budget can seem like a daunting task, but follow these 3 critical tips and you’ll be well on your way!
- Find an independent life insurance agency that has access to all the top rated life insurance companies.
Life insurance rates are the same no matter where you go. Every agent or agency uses the same published rates. So it makes sense to find an agency that can compare all the top rated life insurance carriers rates. Being able to shop the entire market will guarantee you find the lowest life insurance rates available. Only an independent agency can do that for you.
An example of an agency whose not independent and only represents one company would be Northwestern Mutual or Primerica. If you’re looking for the lowest life insurance rates, stay away from these “captive” carriers.
And don’t use a big call center life SelectQuote life insurance or any of the other big advertisers on TV. Call centers aren’t staffed with knowledgeable agents. They simply have big marketing budgets, but not the expertise an independent life insurance agent would have.
- Use instant quote tools IF you’re healthy.
Using an instant life insurance quote tool can be very helpful in comparing life insurance rates. You can see for yourself, without the bias or help of an agent what the best rates on the market are. If the rates are too high, you can re-run the quotes with less coverage or a shorter term length – all at the comfort of your own computer.
You can run instant life insurance quotes here.
However, final life insurance rates are based on your health. We only recommend using an instant quote engine IF you’re healthy. Otherwise, fill out the quote request form on the right and we’ll find the lowest life insurance rates based on your unique health situation.
- Be completely upfront about any health issues.
The worst thing you can do is withhold health information in hopes that the life insurance company won’t catch it, when in reality, it is feasible to find coverage with health issues such as diabetic life insurance.
We’re on your side. Being upfront and honest with your health issues helps us find the lowest life insurance rates available because EVERY life insurance company looks at your health differently. It’s our job to find the company that will give you the most favorable rates.
Also let your life insurance agent know if you’ve had anyone in your family pass away before the age of 60 of cancer or heart disease, any DUIs or reckless diving tickets, any hazardous activities or sports, foreign travel or recent bankruptcies. All of these will effect your life insurance rates and if you’re upfront from the very beginning, we can help you find the most lenient life insurance company.
Lowest Life Insurance Rates for Smokers
If you smoke cigarettes, your rates are typically double the rate of non-smokers, so keep that in mind. If you quit, you’ll have to have quit for at least 1 year to obtain non-smoker rates.
If you smoke cigars, non-smoker rates are available. If you chew, dip or use a nicotine patch, non-smoker rates are also available. You just have to use the right life insurance company.
If you smoke marijuana, you can also get non-smoker rates if you only smoke occasionally. If you smoke marijuana regularly, smoker rates will apply. Again, you just have to use the right life insurance company in this situation.
Lowest Life Insurance Rates for Seniors
As you get older, the cost of life insurance rises. For seniors, it’s very important to factor in any medical history into your quotes. Your rates will fluctuate even more so than those younger than you because of your age. Meaning the difference between a “preferred” health class and “standard” health class will be A LOT more in premiums.
Follow our 3 tips and you’ll be well on your way to finding the lowest life insurance rates available.