Q & A: Instant Term Life Insurance Quote

An instant term life insurance quote is the most convenient way to protect your family against the unthinkable.  With the advent of the internet, families can often obtain term life insurance coverage within one business day.  To ensure that you can secure the best rates possible, prepare your answers for the following seven questions that are part of the instant term life insurance quote process.

Where do you live?

Term life insurance quotes vary by state.  Some states have higher risk factors, such as homicide rates or frequency of natural disasters, and this can impact your term life insurance rates.

When were you born?

Your birthdate plays a large role in determining your life insurance coverage during the online instant term life quote process. As your risk of death increases as you age, the older you are, the more your life insurance rates will be.  This is why obtaining a policy is the most beneficial for young families; you can lock in a low rate while you are young and enjoy the decreased costs.

What is your gender?

Life insurance companies associate males with greater risks, and thus, men will have higher insurance policy costs.  Typically, the cost difference between men and women, who otherwise share the same characteristics and demographics, amounts to a few hundred dollars annually.

How much term life insurance do you need?

The value of your “death benefit” plays an important role in determining your overall insurance cost and this is correlated with the value of your desired payout.

What term length do you need?

Generally speaking, the longer the term you purchase, the lower your annual rates will be.  This is because the cost for each year is amortized across decades.

Do you smoke?

Smoking is a huge red flag for insurance companies.  Your term life policy will be drastically impacted should you smoke.  Term life insurance companies generally encourage smokers to quit smoking for at least one year before they apply for a policy.

What is your weight and height?

Insurance companies use the ratio of your height and weight to determine how healthy you are.  The more you fall within the “healthy” range of weight for your height, the lower your term life insurance quote will be.

How healthy are you?

Of course, the level of your health plays a large role in determining your life insurance rates.  Typically, there are four categories: regular, regular plus, preferred, and preferred plus.  Most people fall within the range of regular and regular plus.  However, if you are in exceptionally great health, meaning you do not have any medical conditions, you exercise regularly, have an ideal weight, and do not smoke, then you can qualify for preferred status – which can save you hundreds each year for your term life coverage.

There are other questions that your instant term life quote may ask, including your family’s medical history.  However, by answering just these eight basic questions, you are well on your way to obtaining an coverage that will help protect your family for decades to come.