Life insurance policies are usually fully underwritten which means that the insurance policy aspirant has to compulsorily undergo a medical test to determine his or her insurability. This medical test is fully paid for by the insurance company and you are tested by qualified medical personnel. In case you are found to be in good health with no signs of illnesses or potentially serious health conditions, you would be offered cheap life insurance rates than those individuals who are found to be suffering from a malady or illness. Life insurance companies sell insurance at cheap rates to younger buyers. This is because the younger applicants would live for longer time than older people. Younger individuals pose lesser financial risk to the insurance company in terms of settlements within the policy period, if it is term life policy.

Smokers worldwide are offered higher rates when they purchase insurance because they are more likely to develop a health condition than non smokers. Quit smoking a year prior to applying for insurance which would qualify you for the same rates of insurance as non smokers. The family history of illnesses also plays a role in determining the rates of insurance because if have a history of serious family illnesses then you are likely to inherit them as well and are expected to die earlier than those individuals who have no family history of medical conditions.

While there is not much you can do about cleaning up your family’s medical record, you can take steps to take care of your own. If you are overweight, have high levels of cholesterol or blood sugar then it is advised that you begin an exercise regimen combined with a healthy diet to get yourself physically fit. Get proper treatment for any health conditions which you might have. Once the medical test reveals that you are physically sound, you would get lower rates on insurance policy you wish to purchase.

Lifestyle aspects such as your driving record and hobbies that you routinely indulge in also dictate the rates you would be offered on the life insurance policy. If you do not have any instances of driving under influence and you do not indulge in extreme sports then you are expected to live longer and thus qualify for lower rates of insurance.

Term life insurance is the most affordable of all types of insurance policies available in the market. It is so because a term life policy remains active for a definite term only which can extend up to as many as thirty years. Ideally you must purchase insurance which is five to ten times your annual income to cover all aspects of your future financial obligations adequately. Among these obligations are paying off home mortgages, paying for a child’s college educations, making provisions for one’s own final expenses and such. You can now get to know in an instant how much insurance would you qualify for with the help of online tools offered by different insurance agents and insurers themselves. To get free instant term life insurance quotes, you only need to answer some questions like your date of birth, gender, coverage sought; health status, smoker or non smoker etc. and you would be given a quote on your query. With the help of free quotes from different insurers you can know which ones are offering you coverage which would be the best for you.

You can also add riders to the basic term life insurance policy. These riders are subject to the particular insurance company’s rules and guidelines. Some of the riders which the customers choose to attach to their policy are waiver of premiums which comes into action if the policy holder becomes disabled and unable to earn, a rider which pays additional benefits in case you die ion an accident, a rider which guarantees family benefits for spouse and children.

You can enquire in detail about these riders and the specific rules of the insurance company to which they are subject. Also ask about the charges you have to pay when you attach a rider to the policy. Select coverage and the term which is most suitable for you. You need to determine the future financial commitments and present budgetary conditions to do that.

Author Bio: Article by David Livingston of EQuote.com, a website with the best critical illness insurance and life insurance rates information in the country.

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