Life Insurance Comparison

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(-20%) Life Insurance

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When it comes to Life Insurance Comparison you have to be sure you are getting a real life insurance comparison.

Life Insurance Tricks

Comparing only own products

Some insurance companies compare just their own various life insurance products and call it a comparison. So you need to get a life insurance quote from each of these companies to compare them.

Quoting Fortnightly

Also when you compare life insurance you have to be sure you are comparing apples with apples. Some insurance companies quote your insurance premiums fortnightly, that way they look cheaper. Even if you want to convert it into monthly premiums it's not enough just to multiply fortnightly premiums by 2. You have to multiply it by 26 and divide by 12 to get monthly life insurance premiums.

Factors that affect Life Insurance price

Age & Gender

A large number of comparison points will be used to evaluate your life insurance quote. Firstly, they may consider your age. Older people are likely to have to pay higher premiums, as their estimated age of death will be nearer. Those under the age of 40 can usually take advantage of very low cost life insurance, as they are likely to be paying the monthly fee for many years into the future. The insurance company will also take your gender into account, as females tend to live slightly longer than males.

Health

If you have any pre-existing medical conditions, life insurance providers may request slightly higher premiums, depending on the severity of the conditions and how likely it is they will lead to premature death. The same can be said for there being hereditary health conditions in the family. Here, there is the risk you may one day contract the illness; one example is Huntington’s disease, which is seen only in the elderly. However, you could possibly eliminate this factor by undergoing a genetic test. If the test shows you are without the gene that causes the condition, it will not be taken into account.

Lifestyle

Your lifestyle is also considered by life insurance providers when they offer you an insurance quote. Those who work in a dangerous environment, where death on the job is a possibility, will face higher insurance premiums because of this risk. In the same way, participation in hazardous activities such as surfing, rock climbing or horse riding could increase the cost of life insurance. Alternatively you may be approved at the same rate as someone who doesnt perform these hazardous activities with an exclusion for this activity. This is because in both of these scenarios, premature death is of greater probability. Specific insurance covering these areas can be taken out (accidental death insurance; military insurance; hazardous pastime insurance).

Smoking status

Another factor that could affect your life insurance quote significantly is whether or not you are a smoker. Regular smokers often pay double the rate paid by non-smokers for full life insurance (typically, around 30 dollars a month). Smoking accelerates the body towards death, and can lead to a range of health problems such as lung cancer and heart disease. Past smoking habits may also be taken into consideration by life insurance providers as they can have an impact upon current health. You can get a non-smoker rates if you haven't smoke 12 months prior to the life insurance application.