Getting discount term life insurance is as easy as knowing what factors the life insurance companies are looking for. You may have come here just looking to get free life insurance quotes, and if that is the case, please fill out the form on the side of this page. Otherwise we will be exploring the major factors that can increase or decrease the amount of your premiums.
There are a few factors that life insurance companies take into account when qualifying you for discount term life insurance that you have no control over. The most obvious two are age and gender. Some that people do not think about are location and family history. Both of these factors can be an indication to a company that you are a higher or lower risk of them having to pay out a death benefit. While this does not seem fair to anyone who gets flagged for any of these factors you have to remember the insurance company is betting that you will not die in hopes of collecting years of premiums. It’s kind of like who would you place a bigger bet on to win the world series? The cubs, who haven’t won a world series in over 100 years, or the Yankees, who seem to win at least three every decade.
Now that we know what factors you cannot control let’s look at what you can do to qualify for discount term life insurance.
Weight – Keeping your weight down is a prime way to decrease your premiums. People who are overweight are at higher risk for heart disease, diabetes, and a whole host of other health problems. Health problems equal a greater risk of death, and thus, a greater risk to the insurance company. People who keep their weight down quickly get discount term life insurance.
Smoking – Quite simply people who smoke pay higher premiums and do not qualify for discount term life insurance. If you are currently smoking you should quit right now so that you can start the clock ticking. Some companies will only ask if you have smoked in the last two years so the sooner you quit the sooner you may qualify
Credit Score – This may seem crazy but your credit score can be a factor in your insurance premiums. This is not just for life insurance but for all types of insurance. People with better credit scores tend to be more responsible and thus a lower risk.
At TermLife360.com we want you to get the best rates you can. So the final way to make sure you get discount term life insurance is to get a set of quotes. By doing so we will shop all the companies in your area to see who has the lowest rates for you. You can look at how the quotes work on our term life insurance quotes page HERE. If you ever have any questions or if there is any way we can serve you please let us know.