Life Insurance Quote
Getting a life insurance quote online is easy – you simply answer a few basic questions, click the ‘send’ or ‘apply’ button and minutes later you get anywhere between one and fifty free life insurance quotes on your screen. You can use comparison websites or insurance company websites to generate any number of instant life insurance quotes and you simply pick from the results you get.
Have you ever wondered though how the insurance providers calculate their life insurance quotes? How exactly do they come up with a life insurance quote for you as an individual based on the answers you give to a few basic questions?
Regardless of whether you are looking for a single whole life insurance quote or a variety of term life insurance quotes you will undoubtedly be asked a series of simple questions. These questions often include the following:
- Your age
- Your gender
- Whether you are a tobacco user/smoker
- The US State you live in
- How much life coverage you want your instant life insurance quote to be for
- How many years you want the policy to run for (in the case of a life term insurance quote)
The answers to these questions will all be scored using the insurance company’s methodology; the result being a total score that indicates the probability you’ll die during the terms of a policy (term insurance), or whether you’ll die before the death payout amount has been covered by your premium payments (whole life insurance).
Each individual insurance company will plot your total score on their mortality chart with the outcome being your unique set of life insurance online quotes. Some mortality charts differ widely from others and so you’ll probably get a range of rates running from very affordable life insurance quotes through to the ridiculous.
If you are fit and healthy you can improve your score by undergoing a medical exam. This gives the insurance providers a lot more information to work with and you will nearly always get back a lower insurance life quote than before. Other ways to improve your score include lowering the amount of coverage you want and decreasing the number of years you want the insurance policy to run for (in the case of a term policy).
It is important however that you answer the questions truthfully when applying for your free life insurance quote. Any false answers you make in an effort to boost your score will be found out eventually, and when they are your policy will become invalid and you could even be charged with fraud.