The advent of term life insurance policy has made the dream of having insurance by scores of people across the country a reality. Term life insurance is the most popular and sought after insurance in the country today. Contrary to the whole life policies, the term life insurance is substantially cheaper. Term life policies do not gain any cash worth or pay off dividends; they are purely designed as benefit policies. When the policy holder passes within the stipulated term, the beneficiaries are handed out the lump sum. If they live longer than the term no pay outs are made. The term life policy is convertible to whole life policies as well as renewable. But the costs involved in both the options are quite high and you need to weigh your present financial conditions and future concerns before choosing an option. The whole life policies on the other hand are quite expensive and act as investment as well Term life policies must not be viewed as investment. The premiums of term life insurance are easily affordable to most families and the coverage term is up to 30 years. The term life insurance amount is enough to take care of major financial and monetary issues such as repaying home mortgages, paying for children’s college tuitions and settling healthcare bills.

Term life insurance rates are influenced by several underwritten aspects. Age, health, family history, smoker/non smoker and lifestyle factors are all taken into consideration by insurance companies. Purchasing insurance at a younger age qualifies for better rates as does the individual’s health. Hence it is important that you take good care of your health and perform well in the medical examination which would qualify you for lower rates.

Tobacco or nicotine users get higher rates because the insurance companies take into account the proven fact that such people die earlier than non smokers in tobacco or nicotine related deaths. Tobacco affects the health of a person in more ways than one and there are more instances that such people suffer from cardiovascular conditions and develop cancers. So quitting smoking before applying for insurance gets you good rates. If you have been nicotine and tobacco free for a minimum of one year then most insurance companies would offer you non smoker rates.

The medical examination is conducted by the insurance company to determine the state of your health. The blood and urine samples are tested for presence or indicators of any illnesses. Blood sugar and cholesterol levels, HIV and other standard tests are done along with measurement of your height and weight. If you are found to be in good health condition, you get lower rates and have to pay low premiums as compared to those who have tested positive for a health condition.

The genetic history of an individual also influences life insurance rates. If there have been cases of any serious illnesses in the family then the chances that the person would get the disease increase manifold. This factor makes the individual more prone and vulnerable to die from a health condition than someone without any such family history. The insurance companies increase the rates of insurance in such cases.

The lifestyle of a person and the conditions at their workplace are also considered by insurers when the rates on the insurance policy are being decided. If the individual does not drive rashly or participates in life threatening dangerous sports and works in a relatively safer environment then there are more chances of such a person for living longer than a person who participates in extreme sports on a regular basis or has cases of DUIs or works in a potentially dangerous environment.

Instant term life insurance quotes are now readily and easily available on the internet. Feed the information asked and get free quotes. This will help you a great deal on the coverage that you qualify for. The information is about your date of birth, sex, weight, health condition, family history of illnesses, lifestyle and whether you smoke or not. These are very easy questions to answer and it would take you very little time to answer them and get the quote. Collect some quotes from different insurance companies and compare them and then determine seller from whom you would buy insurance from.

Author Bio: Article by David Livingston of EQuote.com, a website with the best term life insurance quotes and life insurance no exam information in the country.

Category: Finances
Keywords: affordable term life insurance, life insurance no exam