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| Life insurance shows how much you love them long after you're gone. | ||
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Life Insurance |
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Life Insurance is a very difficult product to compare solely based on price. You should compare the premium being offered by different carriers but you should also consider the ratings of the company, the underwriting criteria and the product features. Permanent life insurance consists of universal life insurance, whole life insurance and variable life insurance. Term Life Insurance is much more price sensitive in this very competitive market than permanent life insurance.
Sometimes it appears that term insurance companies have continually cut their prices. In reality, the term carriers have lowered the premium for their best-class insureds but tighten the underwriting categories for each underwriting class. This would be comparable to shopping for a specific car and the dealer telling you that even though the manufacturer cut the price of the car you would not qualify for the lower price because of your customer profile.
Shopping for price
Life insurance is a very personal product and it must be underwritten based on the entire health and financial profile of the insured person. Why are we making this point? Because it doesn't matter what premium you see on any web site after "shopping" for the lowest term cost. A web site quote is meaningless without a field underwriter assessing your personal information and making a product recommendation. No one can tell you definitively what your exact term premium will be until the company underwriting department receives all the case information including blood profile, urine specimen results, financial statement, and medical records (if necessary). Only after the underwriting is completed can an insured know the exact term life insurance premium he/she will pay.
This being said, you need to work with someone that will look at your personal information and recommend the best carrier for your needs. If you have family history of diabetes before age 60, you would need to know if the company you are considering asks about family history in diabetes earlier than age 60. With some term life insurance carriers this fact could throw you out of the preferred category altogether. |
Life Insurance Product Choices
Product Information
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Copyright 1991-2007 Continental Five Insurance Group, Inc. All Rights Reserved.
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