Insurance quotes are estimated rate you afford with a potential insurance carrier. The insurance quotes are subject to change based on how much information you provide at the time of the quote. The more information, you provide, the more accurate your insurance quote will be.
Dealing with your life insurance, how long does it take to get a life insurance quote?
It does not take a lot of time to get a single quote. In a matter of fact, there are some factors that affect the time it takes to get an insurance quote. At least, there are 7 factors affect the time it takes to get an life insurance quote:
1. Age
The number of factor behind the life insurance premium to pay is the age of the policy holder. The older the age of policy holder, the higher rate they have to pay. That's why it is important for you to set your life insurance as young as possible, but of course, as you do not have any financial problem in terms of paying the premium. Still, it does not mean that you have to buy your life insurance policy right after college.
2. Gender
Gender is at the second position of life insurance quotes. Woman will have to pay cheaper with the same life insurance benefits compared with man. It is because, according to the statistic research the life expectation of women is five years longer than men.
3. Smoker
Smoking is the highest risk in terms of all kinds of causes of death and critical diseases. Smoking will risk you with a lung cancer that in turn will risk you to die faster than the non smoker. Because of this high risky habit, the life insurance company will quote smoker higher than the non smokers, and even twice. Then, how to trick it out? Just quit smoking two years before applying for a new policy.
4. Health condition
An insurance agent as the first underwriting processor will ask you to provide them any information dealing with the health condition you have - the critical illness you have had. What you have to do is just be honest for what you have or what you feel. It is because the information will deal with the quote you will rate as well as the claims you will propose later. There will be in time you need to have a medical check up for your blood pressure for example, in case the the first underwriting processor think you should to.
5. Lifestyle
Your hobbies are also included in lifestyle. The risky hobby, such as racing cars or climbing mountain, will end up with the higher quote you have to pay. You must be honest about the lifestyle you have since, for example you don't let the insurance agent know that you have a racing car hobby and next time you claim for the accident caused by such a hobby, the insurance company will deny your claim.
6. Family medical story
Family medical story deal with your insurance quotes in which the agent will ask you about your parents or siblings's health condition, whether they have experienced such critical illness, like cancer stroke, heart attacks and other critical illnesses, including premature death. This medical story will impact on some higher premium to pay.
7. Driving habits
Not all life insurances will pay such an attention on this aspect, but some will. Whether the insurance companies ask about violations on the application, they can access Department of Motor Vehicles records to find out if you have run afoul of the traffic laws. If you have good driving habits, the life insurance companies likely rate you with a more favorable premium.
Those 7 factors affecting the quote of rate you will pay needs to pay your attention at. In fact, just as important is whether or not the quote has the coverage you need and want, when you are getting quotes on life insurance, you should have each company run the quote a similarly as possible. It is the only way you will know which carrier has the best price for you.
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