Term Life Insurance Comparisons - What You Need Is Lots of Information

When you’re shopping for term life insurance you’ll need to do more than just compare rates to find the best policy for you. You need rates plus information.

The more useful information that is included in your term life insurance comparison, the easier it will be to select the insurance company and term life insurance policy that will best meet your needs.

Life Insurance for People Over 50, 60, 70?

In a number of recent blogs and financial sites there have been an abundance of articles and comments regarding life insurance for people age 50 and over. Unfortunately, a lot of the information and opinions provided are just plain wrong! For example, a major financial portal, in an article entitled “Term or Whole Life” states:

“……… people who need coverage starting in their 60s and beyond may have no alternative but to buy whole life. Most companies simply won’t sell policies to people over about age 65.”

What a bunch of baloney! Right now, I’m looking at term life insurance quotes for a male born January 1, 1938, making him age 70. The quotes I’m seeing show the availability of both 10 year and 15 year guaranteed term insurance from numerous companies.

Life Insurance - First, Make Sure You Have Enough!

As you might imagine, we get a wide variety of questions about types of life insurance and when to buy life insurance. Recently some of the hot topics have been:

• Should I buy return of premium life insurance?
• Should I consider whole life?
• Should I buy universal life to 100 for a lifetime premium guarantee?
• Is variable universal life a good investment?
• Should I buy a 20 or 30 year term life insurance policy?
• I’ve just quit smoking. Should I wait until a year has passed and I can get non-smoker rates before applying for life insurance?

Life Insurance Costs - Check for Volume Discounts

Given the right set of circumstances, at times you may be able to pay less for term life insurance by purchasing more. That’s because most life insurance companies charge less per $1,000 of coverage as the amount of life insurance increases.

These discounts occur in a couple of ways. First, some term life insurance products are only available at higher minimum amounts of protection. For example, American General’s Select -A- Term product requires a minimum face amount of $250,000. Other competitive term life insurance products may have even higher minimum amounts ranging from $500,000 to $1,000,000.

Life Insurance Quotes - Height and Weight Need To Be Accurate!

A recent shopper at 1stQuote.com completed his quote request indicating that he was 6′1″ and weighed 200 lbs. He had no medical issues, did not use tobacco and was shown rates based on a super preferred no-tobacco classification. The 20 year $600,000 policy he selected was priced at $302.00 per year.

When his medical exam was completed his height and weight were measured at 6′0″ and 210 lbs. The one inch and 10 pound difference changed his health classification from super preferred to preferred rates and his annual premium from $302.00 per year to $ 422.00 per year.

What’s In A Name - Get Anonymous Life Insurance Quotes

In looking through the 1000’s of term life insurance quote and shopping sites it’s amazing that many require the shopper to provide a name, address, phone numbers and email address to obtain an instant quote.This personal contact information is not needed and has no impact on the term life insurance rates provided.

In their review of life insurance quote sites, Consumer Reports Money Adviser said:

“Many insurance sites will give you quotes only if you give them personal information and agree to have an agent contact you. We looked for sites that give you instant quotes online and leave it up to you to contact them if you’re interested in purchasing a policy.”

1stQuote.com and a number of other quality term life insurance shopping sites do not require your contact information to provide term life insurance quotes and pricing comparisons. You can get the life insurance pricing and company data you need without being contacted by the shopping site or having your information sold to other insurance agents and agencies.