It is a well known fact that the term life insurance cost is very high if you want to get a life insurance policy without taking the medical test. The life insurance carriers may ask you many questions related to your health of may even run you through Medical Insurance Bank or Motor Vehicle Report, but the best way is to take up the physical verification to determine the actual state of your health. So do not be surprised will you are charges a high insurance rate when you do not take the medical test.
The state of your health is very important to the life insurance carriers and it takes up a special dimension if it is a term life. Under a permanent policy, the benefit is paid whenever the insured dies, provided the policy has been kept in force by regular payment of premiums. However, under term life, the benefits are paid only if the insured dies within the valid term for which the policy has been sold and therefore the health of the insured takes up greater importance under it.
By taking the medical test, this only tells how healthy you are, but also shows what kind of life style you live. If you are someone who is young and healthy you are sure to live longer and thus when you take up a policy when you are young and healthy, you will surely get a low insurance cost. If you use tobacco or addicted to alcohol or cocaine, then it is a known fact that you will not be healthy and thus this can only lead you to getting an high insurance rate.
So how is the carrier going to know about your addictions or any such habits or in general you health itself? The only way is to have a blood test done. There are many people who don't indulge in such habits, once they cross their teens or twenties, it's only a medical test that can show what kind of future health the person will have. With the information on your health; the insurance carries will be able to calculate the longevity of a person more accurately and this can help them determine the insurance cost.
Therefore, it is imperative that you sit for the medical test and have your profile fully underwritten to be able to receive coverage at rational cost. At the same time, it is important to remember that a life insurance policy cannot be bought. You can at the most apply for one. The carriers will provide the coverage only if they find you a good risk. Receiving life insurance quotes does not imply that the carriers are willing to sell the coverage to you; it simply represents an estimated price at which the policy can be purchased if all is as it should be.
Now we are going to learn what are the factors that determine the life insurance quotes of a policy and how it will differ from the actual price. Now we shall discuss all the factors that influence the term life insurance quotes and the term life insurance cost:
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