When shopping for life insurance you will need to decide between many variations including: term life insurance, whole life insurance, universal life insurance mortgage life insurance, and whole life survivorship. Each type of life insurance offer a unique level of pros and cons. Consumers need to take time to learn the details of each type of coverage to ensure the proper purchase.
It is essential for consumers to know a lot about life insurance before buying. As noted above, there are many types of policies as well as hundreds of companies that sell them. Those who have a strong knowledge of what is available and what they need usually have the easiest time finding and purchasing a quality life insurance policy.
Life Insurance Ratings -- Which rating is available to you?
Life Insurance health ratings are determined on current and past health history. These ratings take into account what you see the Dr. for, the types of medications you take, and pre existing conditions. Next is the the 'paramedical exam'. This is when a nurse comes to your house and gives you a complete physical. Blood, urine tests, and asks medical questions. Final determination will come from a combination of these items that are sent to the underwriting department.
Based on your 'health history' and your immediate paramedical exam, the carriers underwriting department will put you into a table rating with 'preferred plus' being the best rate class you can get. So, a young healthy person can usually get preferred plus, but - say someone in their 50's that has high blood pressure and his height and weight arent' that good will get a standard rating. If you need more help selecting a policy, give us a call -- Morgan Moran, or Vince Bagni - Paramount Insurance (800) 554-9142.
|"Dear Paramount. -- We are so grateful for your help in selecting our life insurance policy. Special thanks to our consultants, 'Vince' & 'Morgan' for answering all of our questions. We couldn't have done it without them." -- Jeff Bergin, Apopka, Florida.|
|LOWER LIFE INSURANCE RATES AVAILABLE
Cheap Life Insurance --- Life insurance is really the cheapest it has ever been per thousand. The reason that the rates are the lowest that they have ever been is that people are living longer than ever before with modern medicine. The amount of term life insurance that can be acquired by healthy people is sometimes quite staggering. For example, a healthy 30 year old female non-smoker can get 1 million dollars of term life for 21.44. Of course, her health was very good and most policies require you to qualify, so the rate is dictated by your underwriting.
When we give clients quotes, we let them know that the quoted rate is only a guestimate based upon the information they have provided us. Once the application has been submitted, they have done the medical exam, and the underwriting has been completed, then the company will come back with a hard rate. With the amount of life insurance companies in the market it really helps from a competition standpoint. The competition requires each and every company to evaluate their premium costs, underwriting requirements, etc.
With the cost of insurance at an all time low, it helps keep permanent plans affordable as well. It is important to look for plans that are obviously affordable and cheap, but to look for good quality too. We recommend that you only look at companies with at least an "A" rating. What is the point to get a cheaper rate, if they can't meet their obligations when you need them too. With all the financial turmoil in the world it is important to have a strong company. You can visit www.paramountlifeinsurance.com to get a free quote and their system shops all the insurance companies for you.
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