COVERAGE (also known as FACE AMOUNT)
The amount of life insurance you are looking to buy. For example, a 50,000, 100,000, or 250,000 life insurance policy.
POLICY EXPIRATION DATE
The most important decision you will make is when does the policy expire.
*** BE CAREFUL selecting your expiration date. You do not want to have your policy expire in your late 70’s, 80’s or 90’s and still have a want or need for life insurance. It is VERY EXPENSIVE to buy at that age even if you are healthy enough to qualify.***
Which HEALTH CLASS the life insurance company approves you at has significant impact on exact cost. Every life insurance company has about 12 health classes.
***An agent or a broker can tell you what the cost of each health class is before you apply. No agent or broker can tell you which health class you will be approved at until the application and underwriting process is completed for the life insurance company (carrier)***
There is much to consider when making comparisons between life insurance companies
The Most Important Factors
the exact cost of your life insurance depends on 3 variables
detailed sample quotes and underwriting guidelines