Life insurance pricing is based on actuarial statistics and your personal medical information. Over half of Americans who own life insurance are in the wrong rate class. Understanding how to position your medical information and present mitigating credits like diet and exercise can elevate you one to two rate classes that may result in significant savings.
In general, you cannot negotiate life insurance. The rates are set at a certain cost per thousand dollars of coverage, and there is no bargaining allowed to reduce that cost.
However, if you are rated higher than you think is fair, you can use an experienced life insurance agent to go to bat for you. You may be able to get a letter from your doctor that helps the underwriter see your health in a better light. You may be able to provide additional medical records or testing to improve your rating. You might possibly even be able to obtain a lower rating from one company on the grounds of what another company rated you.
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However, if you are rated higher than you think is fair, you can use an experienced life insurance agent to go to bat for you. You may be able to get a letter from your doctor that helps the underwriter see your health in a better light. You may be able to provide additional medical records or testing to improve your rating. You might possibly even be able to obtain a lower rating from one company on the grounds of what another company rated you.