shopping for life insurance— The Only Three Variables That Matter

shopping for life insurance? we urge you to Make an informed decision before you buy... 

THE 3 VARIABLES THAT DETERMINE THE EXACT COST OF YOUR LIFE INSURANCE POLICY ARE:

1. How much coverage you are looking to buy
2. When the policy is scheduled to expire
3. Which health class the insurer approves you for

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1

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.

2

POLICY EXPIRATION DATE

The most important decision you will make is when does the policy expire.
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• Do you have  a short term need or goal?  If so, term life insurance is the way to go.  You can lock your rates so your policy does not expire for  10, 15, 20, 25, or 30 years depending upon how old you are when you purchase it.
  
  
• Do you have a long term or permanent need or goal?  If so, a lifetime policy like guaranteed universal life or whole life  is the way to go.  These policies have an expiration date at age 95, 100, or 121.   Your short and long term goals will help you determine which is the best for you.

*** 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.***

3

HEALTH CLASS

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.
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• Health class 1 is the best health class and least expensive, BUT you have to be extremely healthy to get it.
  
  
• Health class 12 is the worst health class and the most expensive because of poor health.

***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)***
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COMPARE RATES NOW

CALL:  1-888-681-4952

What Are Underwriting Guidelines and How Do They Impact The Actual Cost Of Your Life Insurance Policy?

Keep in mind—  the ACTUAL COST of your policy will NOT BE KNOWN until you have been approved and assigned a health class.  Before you apply to any company, consult that company's underwriting guidelines to see if you would qualify.