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Buying Life Insurance

Buying life insurance can be quite an exhausting experience. If done correctly, however, it can be a quick process and quite rewarding.

It is very important that you first satisfy yourself that you need to own some sort of coverage. A good exercise is to discuss the matter with your spouse before you proceed.

Once you agree that you need to own a policy, or increase what you now own, you should proceed to determine just how much fits your particular needs. You have a spouse who you need to protect from financial disaster, you have children who depend on you, you may also have an elderly parent or other relative that you have chosen to take care, American Insurance can help you. What about the balance owed on your mortgage, what of college costs? Surely, these are excellent reasons for buying life insurance.

Before buying life insurance you should determine how much you need. There are several calculators to assist you with this online. All you do is fill in the information on the form and the need calculator will provide you with an accurate evaluation. It will show you the total amount you should purchase.

If you are buying life insurance for the first time you should begin with term life insurance as it gives you the maximum amount of coverage for the least amount of money. The shorter term policies, like the 10 year term or the 15 year term policies, cost less than those that last a long time, like 20 or 30 year term life policies.

You next go to your favorite search engine and type in the name of the term policy you are about to purchase and compare rates. There is really no bad life insurance company. These companies are financially stronger than those with lower ratings.

There are different ways to go about actually buying your life insurance policy online. I know of one carrier that allows you to complete the application online, they make a decision as to whether you qualify or not instantly. There are others that allow you to complete a short questionnaire, submit it to the company and wait for an agent to contact you. Some will contact you in a few minutes, within the same day or within a week.

You do not need to do a physical exam for some carriers if the amount you require is within certain amounts, $350,000 or $400,000. This differs from company to company. If you will be buying life insurance in larger amounts you will need a medical exam. Some companies only offer life insurance after you go through a physical exam.

After your Application is submitted to the company the underwriters take over. They thoroughly investigate whether you qualify or not. They check out the Medical Information Bureau, they get a Pharmacy Report on you and if there is anything that they are concerned about they will ask for an attending physician’s report.

If you are buying life insurance and you are in very good health the policy will be issued a lot quicker.




Life Insurance Free Quotes

If you are looking for life insurance free quotes before you make a decision to buy you can find them by clicking the link to the right of this paragraph. There is something about getting something FREE that attracts people. They investigate it because it is free but they do not accept the product as valuable simply because it is free. I know a businessman who charged a small fee for an online offering just for this reason.

I encourage you to examine these life insurance free quotes which are of very high value. Let us now move forward and see what these free quotes will uncover.

First they will give you the most competitive rates available on the internet. These are the same rates you get offline. The beauty of the thing is that they show you which carrier is the most highly rated in addition to the life insurance quotes. You therefore can make a very informed decision.

Life insurance is one of the most important investments you will make in your lifetime. You earn an income, you want to guarantee that it continues if you die too soon. You buy a home and you want to guarantee that the mortgage is paid off in the event of your premature death.

You attain wealth and you want to protect it for the ones you love, the spouse and children that motivated you to achieve in the first place. Life insurance, if effectively applied, can take care of all these desires.

Life insurance companies offer several types of policies to choose from, the one you select would depend on the reason for your purchase. You could buy your policy to continue your income to your family, to pay off a mortgage, to pay off an outstanding loan balance or possibly to pay Federal Estate Taxes.

When you decide why you need to purchase a policy go on the internet and examine life insurance free quotes, you will make a very informed decision.




Compare Life Insurance Quotes

It is common practice to compare life insurance quotes from several different carriers online. Get the most for your money, compare life insurance quotes. You learn to trust the companies you have seen doing business for a long time, usually they are worthy of your trust.

It is not difficult to check them out. There is a company that we all use to check out life insurance companies, this is the A.M. Best Company. The function of A.M. Best is to keep an eye on and let the consumer know the financial condition of insurance companies.

These companies use quote engines to give you the rates, they are updated regularly so you really get up to date information. The rates are quite accurate.

Each company doing business online could offer you literally hundreds of term life policies to examine. The problem is that people would get confused and sometimes would buy no life insurance as a result.

What we do is to narrow the field for you. We select carriers by ratings, reputation, size and number of years in business. Most importantly though we select the companies with the lowest premiums. When you compare life insurance quotes through us you can feel comfortable that you are getting the best available policies.

You decide the type of term policy you want to examine, you know, 10 year, 15, year 20 year or 30 year term. You also decide how much you need then proceed to compare the premiums. If you like what you come up with you take the next step.

Sometimes you can complete the form and get your policy within 3 days. In other cases you need a physical exam before the company issues your policy.

Buying life insurance is real simple an exercise. You decide how much you need and what type, compare life insurance quotes then buy your policy.




Cheap Life Insurance Quote

A cheap life insurance quote is available for an applicant in fairly good health. People who do not smoke will get a policy at a lower rate than a smoker.

There are several rate categories, let us take a look at them and discover where you can find a cheap life insurance quote.

Preferred Plus

These are the people that life insurance companies want most of all. In this category you will find people who are in excellent health, no negative medical history, height and weight are within a good range, there are no hazardous conditions in the workplace, no history of alcohol or drug abuse. You will qualify for a very cheap life insurance quote if you fall in this category. Each life insurance company set their own guidelines. They all, however, have very similar rates in each category.

Preferred

Similar to preferred plus but probably not so perfect in one or more of these areas.

Regular Plus

Higher rates than any of the above.

Regular

Rates here are even higher here.

Each of the above categories are also adjusted if you are a smoker, you pay a higher premium as a smoker. Statistics show that people who smoke are likely to die earlier than those who do not smoke, all other things being equal.

You can also qualify for a rated policy but these rates cannot be thought of as cheap in any way. Your agent will have to get quotes for these as they are not on any quote engine.

To sum up you qualify for preferred plus or preferred rates if you enjoy excellent health and family medical history, very low cholesterol, low risk lifestyle and working conditions, good height and weight and no history of drug or alcohol abuse.

You get a regular plus or regular rate if you are in fairly good health, average cholesterol use, no history of drug or alcohol abuse, a relatively low-risk lifestyle.

If your health and lifestyle fall outside of these areas you are either rated or declined.

Go to a quote engine and see what a cheap life insurance quote looks like, see where you fit.




Cheap Life Insurance Policy

A Cheap life insurance policy from a highly respected carrier can easily be purchased online. Perhaps it would be good to do some preparation before looking at the premium costs. You would perhaps want to discuss it with your partner and come up with a reasonable amount to buy, there are also tools available online that would be of some help.

How Much

You should decide how much you want to buy. In fact you should look at how much you really need. There are available calculators that would help you determine your need. In talking with clients I have come to learn that they use no particular financial formula to determine their need. You may buy more than you need or less than you need if you ignore this exercise, you should therefore use a proven calculator based on a proven formula.

Get Rates

Once you determine how much you should examine cheap life insurance policy rates online, here is how you do that. You enter the key phrase, “cheap life insurance policy rates” in the search field of the search engines online. Go through each result until you find what you want. There are many companies doing business on the Internet, I believe they all are safe to do business with. You can check their Financial Soundness at the A.M. Best company, also available online. Select a carrier with a low premium that is rated A or better by A.M. Best.

Fully Underwritten Applications

You can then proceed to buy your cheap life insurance policy online. If the amount is very large you just fill out a short questionnaire and a licensed agent for your state will call you to complete the application and set up your medical. Approval can take a while on these.

Non Medical Applications

If the amount you will buy is less than $400,000 the agent will complete the Application itself online. Some decisions are made by the company within 24 hours, others take a few days.

Search cheap life insurance policies online, get started today.