6 Tips To Get The Best Life Insurance Quote
If there’s a to-do list for life – something that ensures your loved ones will be cared for and financially secure, allows you to rest easy without the “what ifs” floating around in your mind – securing life insurance would be at the top of that list. One of the questions we hear most often is, “How do I get the best rates on life insurance?” Many people assume the process to get life insurance is lengthy, or calls for invasive medical exams, but the truth is, it’s a simple process. When you work with the right life insurance team, you and your family come first. Here’s a checklist to help you get the best life insurance quote.
Know Your Options
As with any insurance coverage, it’s best to shop around. Reach out to a number of companies, or work with Texas Republic Insurance Solutions, to get a number of rates with one stop. When you have a variety of companies from which to choose, you not only get the best deal on life insurance, but you also have a few backup options if your application is refused for any reason.
Be Honest
Obtaining life insurance isn’t a test to stress over; this is going to allow your financial legacy to be developed through careful planning. For that reason, it’s important to be straight forward with your agent. While it might be easier to deny any health problems, jot down a lesser weight, or not be completely forthcoming about family medical history, your agent can help you find the best policy for you. Be honest upfront and save yourself time and money.
Exam or Avoid It?
With an abundance of life insurance options on the market, you’ll have to decide if you want to obtain coverage with a company that requires a medical exam or if you’d like to avoid it altogether. While there’s no hard and fast rule about life insurance medical exams, here are some things to consider:
If you’ve had a recent exam and everything came back healthy (blood pressure, cholesterol, blood sugar levels), you should be ok to take the insurance medical exam
If you haven’t had an exam in a while and can’t say for sure what your test results would be, seek life insurance coverage that doesn’t require an exam
Don’t feel pressured into a medical exam. Most Americans – 70 percent – say they’d rather obtain coverage without an exam, so you’re not alone.
Dangerous Hobbies & Travel
If your adventurous side tends to take over and rock climbing, motocross racing, or exploring countries with health concerns (i.e. – Ebola breakout, Zika, etc) is just part of your everyday, share that with your agent. Life insurance coverage can still be obtained, but it will help your agent narrow down the type of coverage best suited for you.
Sooner Than Later
Buying life insurance is not only less expensive in your younger years, but it’s less likely you’ve experienced any major medical concerns for which an insurance company may question offering you coverage. From depression to a heart attack, being labeled a “high risk applicant” makes your need for working with an agent who has access to many insurance companies even more important.
Don’t Assume A Price
The number one reason most Americans don’t have life insurance is because they overestimated the costs. According to the study by Life Happens and LIMRA, 80 percent of consumers misjudge the price for life insurance. When survey participants were asked to price a $250,000 life insurance policy for a healthy 30-year-old man, the median estimate was $500—more than three times the actual cost. Don’t talk yourself out of life insurance coverage because you assume it would be too costly. Coverage is much less expensive than most people realize.
There is no one-size-fits-all policy when it comes to life insurance. Your coverage should fit your life, your family’s needs, and your budget. Working with the team at Texas Republic Insurance Solutions means you have access to a number of insurance companies that offer different services and costs – we’re sure to find the right fit.
