Comparing Quotes for the Best Life Insurance Cover

Choosing the right no medical exam life insurance cover is an important decision that can go a long way in providing financial support for your loved ones if something happens, such as the loss of a job or death. These kinds of plans are deemed expensive compared with the medically underwritten plans. However, shopping around and comparing no medical exam life insurance quotes can get you a plan that is priced competitively. Knowing the cost of your cover will help you determine whether you will be able to submit premiums when they fall due and help you determine whether you are getting enough coverage at an affordable price. Knowing how the insurance premiums are calculated can help you make an informed decision. The items often factored in the insurance rates include:

· Lifestyle

Insurance carriers take into account the lifestyle of insurance applicants to determine rates. Therefore, if you enjoy high-risk activities like skydiving & deep-sea diving or high-risk occupation like flying airplanes, you can expect insurance carriers to charge you a high rate or deny you coverage. However, the rate depends on the insurance carrier. In order to get competitive rates, it is advisable to contact an insurance expert to help you find the best rate class. Furthermore, smokers can expect to be charged higher rates than non-smokers are, although some insurance carriers view occasional tobacco users a bit differently, and could qualify them for a nonsmoker rate.

· Age

Insurance carriers determine premiums by taking into consideration the age of the applicant. Therefore, younger people often benefit from cheaper policies because they are deemed less risky. Insurance companies use mortality rates for purposes of “guessing” the chances of an applicant dying. Hence, it is important to ask your insurance agent about the age nearest and the age last. If you are 6 months or less from you next birthday, you can backdate the cover to “save age”. Therefore, you should do your calculations to determine whether you can “save age” on your insurance plan.