Who has the cheapest life insurance or rather who has the best rates for life insurance? The company that has the best rates for insurance at a particular age and for a specified amount varies. No one company has all the best rates.
Perhaps the best way to answer this is to change the question to: How do I find the best rates for term insurance? You could start with an online quoting service to give you a point of reference. Be sure and compare renewal rates along with the initial premium.
There are more factors to consider than simply price. Which is why you would best be served by working with an independent insurance broker who can access several companies to get you the right plan at the right price.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
The cheapest term life insurance may not be the best route to go. What you really need is the best rate for the best term life policy that meets your exact needs for your unique situation. I personally have written three different polices with three different companies on the same client to achieve the best rates for the best coverage. There are way too many variables to predict one company every time for everyone. I suggest you find a trusted experienced independent broker to shop the market for you. Their expertise is free of charge to you as a consumer.
If you go to a website that offers free, instant life insurance quotes from multiple companies, you can enter some factors (date of birth, gender, term length, face amount, etc) and see which life insurance companies have the lowest quotes. If there were no questions about build or health, you are most likely viewing quotes for the best rate class, which may not be the class you qualify for. But that exercise does give you an idea of which companies offer the cheapest rates for term insurance for those in perfect health.
Keep in mind that being overweight, having a health condition, or being older will probably result in other companies offering the cheapest rates. To find the lowest priced term life insurance rates for you, it is best to call an agent so that they can gather all these variables and do the shopping for you.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The cheapest term insurance policy is one that accomplishes your desires. You are buying peace of mind in troubling times. Setting the appropriate limit is the most important part of the process. A trusted agent can guide you. If you die and your family discovers you could have saved $300 do you think that they will refuse the death benefit? Good advice is worth a great deal.
Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
No one single insurance company offers the cheapest term life insurance to everyone. Every carrier has their own underwriting guidelines so the carrier that's best for you may not be the best for someone else. There are 4 main factors that determine the premium that you pay for your life insurance policy - your age, the face amount of the coverage, how long it's guaranteed for (term vs. permanent), and the risk classification a carrier will offer you.
The risk classification is the MOST important factor in evaluating which insurance company will offer you the lowest rates for a term life insurance policy. The company will look at your personal medical history, smoker status, height/weight profile, results of the medical exam (if applying for a policy requiring it - no exam policies typically cost more), your family medical history (e.g. cancer or heart disease before age 60 in the immediate family), motor vehicle record, and any hazardous activities you may participate in (such as aviation, scuba diving, drag racing, etc).
Non-medical policies generally cost more than fully underwritten policies that require an exam because an insurance company is taking on more risk without having a full medical picture of you.
It's best to consult with an experienced life insurance broker who can shop your case among multiple carriers to see who will offer you the most favorable risk classification for your program. Please feel free to contact me for help or if you have any other questions. Thanks very much.
You could easily determine this by getting comparative quotes from one or more agencies that handle this type of insurance.
However, there is an important issue that should be considered. 'Cheapest' is often associated with less than quality. Think in terms of a small, under-funded insurance company that could fail financially, just when your family needs the coverage. You are far better-off getting comparative quotes for the amount of insurance you desire and then choosing the strongest company in the group. Your agent can help you with this process. Don't fall into the 'cheap pit'. It can hurt you and your family.
Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
I'm assuming that you want to know what company offers the least expensive Term life insurance policies in general. Most likely that would be an insurance provider that specializes in Term insurance and doesn't do a lot of expensive advertising. Personally as a broker I only work with companies that are A+ rated or better by the 4 independent rating agencies, and among those I've found that Genworth, Banner, and Transamerica usually come in with the lowest rates. However the specific circumstances of the insured will have a bearing on the premiums. Gender, age and health, as well as the length of the term and the face amount of the policy each have a good deal of impact on the premium.
My question to you, or rather my advise would be to get with a qualified Insurance Adviser and find out how a term policy may benefit you with your particular needs, and if Term may NOT be what you should be looking at implementing. Term insurance is the cheapest of the different types of life insurance to be sure. But is Cheap what you want or need, or is it rather Value that will benefit you the most?
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Perhaps the best way to answer this is to change the question to: How do I find the best rates for term insurance? You could start with an online quoting service to give you a point of reference. Be sure and compare renewal rates along with the initial premium.
There are more factors to consider than simply price. Which is why you would best be served by working with an independent insurance broker who can access several companies to get you the right plan at the right price.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
Keep in mind that being overweight, having a health condition, or being older will probably result in other companies offering the cheapest rates. To find the lowest priced term life insurance rates for you, it is best to call an agent so that they can gather all these variables and do the shopping for you.
The risk classification is the MOST important factor in evaluating which insurance company will offer you the lowest rates for a term life insurance policy. The company will look at your personal medical history, smoker status, height/weight profile, results of the medical exam (if applying for a policy requiring it - no exam policies typically cost more), your family medical history (e.g. cancer or heart disease before age 60 in the immediate family), motor vehicle record, and any hazardous activities you may participate in (such as aviation, scuba diving, drag racing, etc).
Non-medical policies generally cost more than fully underwritten policies that require an exam because an insurance company is taking on more risk without having a full medical picture of you.
It's best to consult with an experienced life insurance broker who can shop your case among multiple carriers to see who will offer you the most favorable risk classification for your program. Please feel free to contact me for help or if you have any other questions. Thanks very much.
However, there is an important issue that should be considered. 'Cheapest' is often associated with less than quality. Think in terms of a small, under-funded insurance company that could fail financially, just when your family needs the coverage. You are far better-off getting comparative quotes for the amount of insurance you desire and then choosing the strongest company in the group. Your agent can help you with this process. Don't fall into the 'cheap pit'. It can hurt you and your family.
My question to you, or rather my advise would be to get with a qualified Insurance Adviser and find out how a term policy may benefit you with your particular needs, and if Term may NOT be what you should be looking at implementing. Term insurance is the cheapest of the different types of life insurance to be sure. But is Cheap what you want or need, or is it rather Value that will benefit you the most?