are plenty of websites that can run term
life quotes on the web...literally 100's
(if not 1000's). Most are quoting
the same batch of companies or at least
we hope so since it's so easy to provide
you with a full range of companies and
term life plans these days!
If you price shop the web, which many
people do, are you going to see the
exact same rates or will you save money
by finding lower prices like you might
with other purchases? Great
question. Let's look a little
closer at the quotes you get online and
what they really mean.
First, it's important that you have many
carriers and plans to choose from.
A big red flag is if you only get 1-3
carriers back when you run a quote.
Each carrier has certain "sweet spots"
where they price better than competitors
and you may just happen to be in one (in
terms of age, area, amount of coverage,
etc). Make sure you're getting a
breadth of options when comparing term
life rates. That's a starting
point and essential.
Secondly, and maybe most importantly,
understand that the online quote
provided at any site for term life is
essentially an estimate. It's a
base rate. Why? Let's look
at the structure of life insurance rates
for a quick second to understand better
how this works. Life insurance
rates are based on certain sets of hard
data which we can enter into any
website. For example, age, area,
gender, and amount of coverage are
concrete pieces of information we can
enter into the system from which rates
are derived. These criteria
definately affect the rates you will get
and if that's all we needed to produce a
quote, then we could definitively give
you rates and that's that.
However, there's a second set of
information which is not so black and
white which equally affect the possible
rate you will finally get. The big
one is health status. Some parts
of health status such as height/weight
are pretty easy to screen for but others
provide quite a bit of gray area.
For example, what will elevated
cholesterol do to your quote? For
that matter, what about cholesterol
treated by meds (even succesfully) in
conjunction with higher weight and maybe
a blood pressure medication? It's
gets grayer (if that's a word) by the
minute. This only takes into
account the health issues you know
paramedical exam is an important part of
the term life insurance enrollment
process. Essentially, you have a
quick medical exam by professional which
includes a blood work-up. You may
have higher cholesterol and not even
know it until the paramed results come
back. It's kind of hard to figure
this into the quote if it's not even
know by the term life applicant.
We all have varied health history and
health status so it's important to
understand that the quote you receive
online from any site is essentially an
estimate. Anyone or any site that
says differently is just plain dishonest
or in a more positive light, mis-informed.
So what is the quote you get online.
online term life quote is a base rate
determined by the concrete factors that
we can provide (age, gender, etc).
This rate can up or down (usually up)
based on other criteria such as health
history, lifestyle choices (that affect
life tables such as DUI's, etc), and the
paramedical exam results. How true
is the quote? Unless you have
absolutely perfect health, it's best to
keep in mind 10-40% higher when
considering which plan to go with.
We would be happy to run a more accurate
(or better informed) quote based on your
personalized information with this term
life quote form. Ideally, apply
for the plan/rate you want and we can
adjust after the carrier comes back with
one thing we can say for certain is that
you will not get a better rate from any
other website, broker, or carrier direct
than what we can offer for a given
carrier/plan. It just doesn't
No medical term