Understanding
Term Life Insurance Quotes

Term life insurance is protection for your
family in the event of your death. If you die while your term life insurance
policy is in effect, your beneficiaries will receive the value of your policy.
Term life insurance quotes are based on several factors – your age, family
status, occupation and lifestyle all influence your term life insurance quotes.
What you are basically purchasing is financial protection for your loved ones
in case you die suddenly.

Generally, term life policies are for 10 to
20 years, and the premiums for term life can be very affordable. Term life
differs from whole life because there is no investment portion and no cash
value. When your policy expires, you do not receive any cash value payout, but
you are also not paying someone else to invest your money. The difference in
term and whole premiums can be invested by you, and in many cases give you a
higher return than a whole life policy.

What
Affects My Term Life Insurance Quote?

As stated earlier, there are many factors
that affect your term life insurance quote. All term life insurance quotes are
based on your life expectancy. Your age is a major factor in determining the
amount of your term life insurance
quotes.
You will pay less if you are under 40 that if you are 40 and above. The
duration of your policy, the amount of insurance you want, your health, your
job and your hobbies all affect the quote you will receive. The longer your
policy will be in effect, the cheaper your life insurance quotes will be. Of
course the more insurance you want, the more you will pay for it. But if you
are young and healthy, this cost can be spread out for a longer period of time,
and your quotes will be lower than if you want the same amount for a shorter
period of time.

Your health is also another one of the
major considerations that companies look at to give you term life insurance
quotes. You will probably be required to submit to a medical exam before the
company will issue you term life insurance quotes. Insurance companies use
paramedicals to perform exams and you can’t get one from your family doctor.
Many paramedicals will come to your work or home and perform the exam and tests
there. You can also make an appointment at selected clinics to receive your
medical exam. Your medical exam will include your weight, height, blood
pressure, a urine sample, a blood sample, and if you are taking out a large
amount of insurance or are older, you may be required to have an EKG and
treadmill test.

The job you hold, your hobbies, and your lifestyle
are also taken into consideration. Life insurance quotes will be higher if you
have a job that puts you at risk – such as a police officer, firefighter, heavy
construction worker, or any other job that carries a high risk factor. If you
engage in hobbies and sports that put you at risk, these will also raise your
life insurance quotes. Engaging in harmful habits like smoking, excessive
alcohol consumption, or drug abuse will not only raise your quotes, but may
prevent you from getting term life insurance at all. All of
these combined factors help insurance companies determine life insurance
quotes.