AFFORDABLE TERM LIFE INSURANCE QUOTES

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Understanding Affordable Term Life Insurance


There are many commercials that pop up on television and radio promoting the value of getting an affordable term life insurance quotes. Now, most people have a clear understanding of what a term life insurance quote entails. However, they may be unaware what the concept of term life insurance centers on. For those that may have a number of questions regarding this form of coverage, the following is a brief overview of what it entails.


As with other forms of life insurance, term life insurance centers on offering a “death benefit.” That is, when the insured dies the beneficiaries will be paid a settlement amount based on the amount of coverage that the insured purchased. Again, this is standard with all life insurance policies. However, term life insurance is different in one respect. Specifically, term life insurance only provides coverage for a certain designated period of time. This timeframe is, of course, the term mentioned in the title of the coverage.


In short, the coverage is purchased for a specified term. When the term expires, the insured has the option of purchasing a new policy. In some instances, it may be the exact same policy at the same price. In other instances, it could be a new policy at an increased price or different terms. And, of course, the insured could also downgrade the policy for a lower premium. Really, this is the major benefit of purchasing a term life insurance policy. A person can save a lot of money on the purchase of a policy since the policies are being purchased in fixed terms.


This makes term life insurance perfect for those that may be on a proverbial budget. Anyone looking to make sure their family is properly covered in the advent of an emergency can take out a short term policy at a reasonable cost. That alone is a huge endorsement for term life insurance.

How Does Height And Weight Affect Your Term Life Insurance Options?

What if you are applying for term life insurance and you have no health issues...but...you are overweight for your height? Can this affect your ability to qualify for coverage and/ore the rates offered by the carrier? Yes. Let's find out why and by how much so you go into the process with correct expectations for your given situation.

First, why is height and weight a consideration in your process of applying for term life insurance? There is a significant amount of data that shows a link between height/weight ratio and other health issues. Some of these issues do not impact the basis for life insurance while others are pretty obvious. The most obvious and probably most critical is cardio vascular health. Cardiovascular is essentially the system comprised of heart, lungs, and the vein/artery network throughout the body. Heart attacks, strokes, and heart disease are major causes of death and disability in the United States. The simplest tie between height/weight ratios and cardiovascular health is the fact that more weight means more work for the heart. We have even had professional body builders with a very low fat percentage declined coverage or offered higher rates. When discussed with the underwriter, she said even though the applicant was in superior health, the extra weight (in this case muscle) puts a strain on the heart which must support all tissue in the body.

A higher height/weight ratio usually corresponds with other medical signatures of poor cardio-vascular health. Blood pressure and elevated cholesterol can both be a function of genetics and lifestyle decisions (sometimes reflected in height/weight ratio). All of these can be contributing issues to heart-related risk as it pertains to heart attack, stroke, and heart disease. This is a main concern for term life insurance carriers as it pertains to height/weight.

There are other issues that are affected by height/weight ratios. For example, Diabetes can be a function of a higher weight for a given height. Although Diabetes can be treated these days, it is a systemic break-down at a basic level that impacts all parts of the body.

How does height/weight affect term life rates and eligibility
The carriers have rate charts that they look at. For a given height (different for male and female), an ideal rate would fall into a range. For example,   if you are a 5'9" male, the maximum rate a given carrier might have for their best health class and rate could be 190. For the next tier down, Preferred, it might be 205. Finally, for the Standard tier, it might be 235 pounds. This means, it will be difficult if not impossible to qualify for life insurance with this particular carrier if you are a 5'9" male that weighs more than 235. This is without looking at our health or risk issues that you may have separate from height and weight.

The tier offered for term life insurance directly impacts the rates you are ultimately offered. For $500K of term life over 20 years for a 49 year old, the best rate average might be around $65/monthly; for Preferred Plus around $79/monthly; for Preferred - around $109/monthly, and for Standard - around $138/monthly. This is a significant jump in premium. Some carriers may not be competitive at different classes as well. This dollar difference is the ultimate effect of how height and weight affects your options for term life insurance.

About the Author:
Dennis Jarvis is a licensed insurance agent concentrating on term life insurance. Shop, compare, and instantly quote multiple carriers with professional guidance and resources.

Author: Dennis Jarvis
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