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How to Compare Life Insurance Quotes

Friday, July 24, 2009
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Instructions

  • Step 1:
    Know what questions the insurance companies will ask. When trying to get life insurance, you will need to give the insurance company your birth date, your height and weight, the amount of coverage you want and how often you use tobacco at the very least. All of these things are taken into consideration when determining your premium.
  • Step 2:
    Determine your health class. When it comes to pricing health insurance, this classification is one of the biggest factors in your health insurance rate. The health classes for health insurance generally include "Preferred Plus," for those without any history of health problems, "Preferred" for those with good health at the time of the policy, "Standard Plus" for those with some health issues, "Standard" for those with health issues, who are also overweight and taking current medication, and "Sub-Standard" for those with major health issues.
  • Step 3:
    Choose Term or Whole Life insurance. Experts recommend term life insurance for most people. Whole life is good for wealthy people who want to pay estate taxes with their policy.
  • Step 4:
    Get financial quotes online. There are several websites that provide quotes from several companies at once, including IntelliQuote and CompuQuotes. If you get quotes from more than one source, make sure that you give everyone the exact same information. This is the only way you will be able to compare the quotes fairly.
  • Step 5:
    Call for financial quotes from your local insurance companies. If you hold insurance policies, such as auto or home insurance, with one company already, you can usually save money by getting your life insurance policy through that same company.
  • Step 6:
    Realize that quotes are likely to change. The quotes given are based on a basic set of criteria that you have entered. Past health issues can affect the quote, and most life insurance policies are also contingent upon a physical by a certified doctor. If you have been sick in the past, the price will likely go up, but getting quotes can still help you determine which company charges the most based on the same criteria.

Resources


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