What Determines Life Insurance Rates?

There are several factors that go into determining rates for a life insurance policy.

First, each insurer has their own set of pricing guidelines, so rates on life insurance will vary by insurance carrier.

Next, rates will vary based on the type and amount of life insurance coverage.

Also, your own personal risk factors impact your longevity – how long you are expected to live, the longer the better as far as getting a lower rate. Risk factors may include your gender, age, health, lifestyle, tobacco use, hobbies, occupation, height-to-weight ratio, driving record, etc.

Compare life insurance rates online among several of the leading life insurance companies.

Does Life Insurance Test for Marijuana?

Yes, life insurance companies do test if you smoke marijuana.

They usually require you to take a medical exam (which they pay for) when you apply for a life insurance policy.

However, there are some life insurance plans that do not require a medical exam.

When you take your medical exam they may also require a blood draw and/or a urine sample which they send to a lab for testing.

Usually, your blood or urine are tested for illegal drugs, STD's, diabetes, high cholesterol, AIDS/HIV, etc.

If marijuana is detected in your blood or urine the insurance company may adjust your rate or decline you for coverage, depending on their position for accepting marijuana smokers.

In addition, it may depend on whether or not you have a medicinal marijuana prescription, and if you live in a jurisdiction where marijuana is legal or not.

Learn more about life insurance for marijuana smokers

Why Is Term Life Insurance Often The Best Value?

Term life insurance is often the best value because it has the lowest rates for your life insurance coverage for a limited period of time.

If you only need life insurance for 30 years or less, then a term life policy may offer the lowest cost.

Since term life is temporary, the chances of a death benefit being paid out are much lower than for a permanent life insurance policy. So, the rate you pay per $1,000 of life insurance coverage is much lower than you pay for permanent life insurance. Compare term life insurance rates from several highly-rated life insurance carriers.

What is Non-Medical Life Insurance?

The insurance company will ask questions about your health and will base their approval for your life insurance policy on that information.

There might be inquiries sent to your doctors or there might even be a request for a paramedical exam but that is very unusual. Some non medical life insurance policies even give you instant approval and allow you to start your life insurance coverage the same day you apply online for a policy.

Non med life insurance may cost more than life insurance requiring a physical exam because they may accept some applicants that may be declined if they had to take a medical examination to qualify.

Here's how to get non medical life insurance.

Can A 65 Year Old Get Term Life Insurance?

Yes, a 65 year old can get a term life insurance policy.

When choosing your term life policy you may have the option of getting coverage for a term of 5, 10, 15 or 20 years wt age 65, depending on your health and the insurance company.

If you purchase a term insurance at age 65, be sure that you do not need the life insurance coverage past the years in the term, because it will be difficult to get a new policy after your term ends, due to your age, and any health issues you may have at that time.

Learn more about life insurance for seniors age 65 and over

What Is The Best Life Insurance For My Parents?

The best life insurance for your parents will depend on what your goal is for your parent’s life insurance coverage.

If your parents need short-term coverage to provide security to pay off a home loan, then a level term life insurance policy may be a good option.

If your parents need lifetime coverage to provide for their final expenses including funeral and burial costs, then a permanent life insurance policy may be right for them.

Here’s how you can compare life insurance plans for your parents.

What is Mortgage Life Insurance?

Are you looking for life insurance to protect your mortgage, your home, and your family?

If so, mortgage life insurance may be the plan you need.

Mortgage term life insurance provides you with an affordable to to make sure your family can stay in the home they share with you, incase you die.

With mortgage term life coverage you choose the term of your coverage from 10, 15, 20 or 30 years. Usually, you’ll want to pick the length of tine you have your mortgage loan – 20 or 30 years.

You select a beneficiary to receive the death benefit from your life insurance (usually your spouse), who can use the money to pay off the mortgage.

Here’s how you can learn more about mortgage life insurance and request your free quotes online today.