Many people may wish to obtain life insurance, but they often do not know how to start the process. Some people hardly know what it is, let alone how to get it. Fortunately, most people are able to request a term life insurance quote by filling out a form on the Internet. Several websites offer this service, many of which are providers of life insurance. This way, if you approve of the quote that you are sent, you can often purchase coverage soon afterward online.
You might have heard of both whole and term life insurance and are wondering what the difference is. A term policy tends to work well for most people since it covers them for life only, and can be purchased for anywhere from one to 30 years. On the other hand, a whole policy includes an investment aspect, as it allows the person covered to build cash value over the years. Therefore, it is often compared to a forced savings plan, and is much more expensive on average than term life insurance.
If you have decided that you do not need the investment feature, it is time to get a term life insurance quote. You may choose to fill out a form on a particular insurance provider's website, or you could visit a site that shows quotes from several companies so that you can compare prices. Also, check whether the company that presides over your automobile, home, or health insurance policies offers life insurance. You could get a multiple line discount, or at least the peace of mind that you are already familiar with the company that is offering you the term life insurance quote.
Most forms will first ask for basic information, such as zip code, name, gender, height, weight, and date of birth. They typically then offer a checklist of medical conditions, allowing you to check off those that you have currently or had in the past. In most cases, you will need to answer whether you have been hospitalized recently, been to a doctor, taken prescription medications, or been diagnosed with any major conditions. Similar to any other kind of insurance, past issues can typically affect not only your term life insurance quote, but whether the company will offer coverage to you at all.
Expect to be asked if you currently have health insurance. This may affect your quote, but it may also be an attempt to sell you policies other than life insurance. You will then likely be asked the dollar amount of coverage you desire, and for how long. In general, your term life insurance quote is only a precursor to coverage, so be aware that you might need evidence to support your answers before your policy is officially created. Therefore, honesty is important so that your quote is accurate.
