Will the final price of my life insurance be the same as my quote online?
Do you prefer to learn by looking? We answer this question in a video below. Click here to jump ahead.
If you have compared your lifetime insurance quotes and filled out your application online, you may be wondering what the final price of your life insurance will be.
In this post, we explain why your final offer from your life insurance company may be more or less than the quote you received when you shopped online.
The more you understand how the insurance guarantee works, the easier you can evaluate your insurance options and determine the pricing that is best for you and your family.
Will my life insurance rate be the same as my online quote?
If you use an online shopping tool (like Quotacy & # 39; s) To compare quotes for life insurance side by side, you will notice that each life insurance company offers different rates for the same term and
In the screenshot above, you will see quotes ranging from $ 17.43 to $ 18.16 per month for a $ 500,000 20-year life insurance policy.
Each life insurance company has its own pricing structure. At Quotacy, we've made the process of comparing life insurance quotes from dozens of trusted companies easier for you.
»Calculate: Life Insurance Needs Calculator
how much your life insurance can cost per month based on your own preferences that you choose in our quotation tool.
Get started by answering 4 simple questions
 Our quotes are quite accurate for most individuals, but for some with more complex health conditions, risky hobbies or a high-risk job, the life insurance company may, for example, need to ask you for additional information to correctly determine your death risk and thus your final cost of life insurance.
Determine policy rates that are fair to you and that do not represent a non-accepting risk of life insurance The insurance company is what insurers do.
They look at the totality of your risk factors such as the combination of your age, gender, health, family history and so on, when evaluating your application.
Factors that affect your life insurance during your application process
Risk factors are what the insurance company refers to as aspects of an applicant that can affect his or her life expectancy and therefore, constitute a risk to insure.
The insurance company evaluates these risk factors by looking at your application, medical examination results, medical records from your doctors, your medical record, financial records and criminal history.
Insurance companies won. Do not take a deep dive into these records for ALL applicants. Some applicants are eligible for an accelerated emissions guarantee, which speeds up the process and does not require you to have a medical examination.
If you have to do a medical examination, do not worry. The test is free. No deductions, deductibles or fees of any kind. The examiner comes to your home or office, wherever it is more convenient. And the examination only takes 15-30 minutes.
The medical examination results give the insurance company the most up-to-date picture of your general health. The following conditions are some common factors that can make a final price of life insurance different from a listed price.
Blood pressure and high blood pressure
If your blood pressure value is high during your medical examination and you have not entered your application to If you suffer from hypertension your life insurance company can investigate further. This can affect your life insurance rates and cause them to be higher than your online rates.
If you really have high blood pressure, but your blood pressure is under control and you have not experienced end organ damage, your application may be considered within a standard risk class.  If your blood pressure reading indicates previously undetected hypertension, you may have a higher frequency.
It is important to fully disclose all of your medical conditions in your life insurance application. By doing this, Quotacy's in-house insurers and life insurance agents can help you place with a life insurance company that works best with your health history.
Our in-house insurers can do what is called an "underwriter & # 39 ;s first look" before submitting. your application. The first look uses their industry experience to guide you in the right direction from the beginning. It is an advantage to work with a life insurance broker like Quotacy.
When preparing for your medical examination, it is important to be aware of the effects of what you eat near the time of your examination.
If you are not treated for high cholesterol levels, the occurrence of elevated levels of low-density lipoprotein (LDL), which is an indicator of coronary heart disease or stroke, can make your life insurance quotes higher than your first online quotes.
Eating fatty foods at the time of Your exam can temporarily raise your cholesterol levels, causing you to get a reading that gives a false portrait of your health. It is best to fast 8-12 hours before your medical examination.
Height and weight
Changes in your height and weight will affect the offer for your life insurance. Insurance insurers look at your Body Mass Index (BMI) differently than your doctor can. They use a special Construction Chart to place you within a specific risk class.
If your weight is different than you reported when you received your first quote, your life insurance rates may be higher or lower than the premiums you found online.