Some people are reluctant to shop for term life insurance because they fear they will have to provide personal information that they don’t want to disclose.
This is purely a matter of personal preference, of course. However, it is important to know what to expect so you can determine if the information requested is really something you can’t share and if that’s worth delaying, or avoiding, getting term life insurance quote, a very important form of protection for the financial security of your family.
Know, before starting, that all information you provide is confidential. The information is not being collected for sale to telemarketers. No information in the brief application leaves you vulnerable to identity theft-for example, your social security number is not requested.
Instead, you are asked a few short, simple questions. They include:
Your gender: Generally, females are a better insurance risk than males. Life insurance companies factor gender into their quotient for setting rates. Your height and weight: These facts provide two important indicators of your health.
In most cases, you also are asked whether you have ever had a condition such as cancer or diabetes. Why does an insurance company need to know? This is the type of information that helps them determine how significant a risk you pose. You also may be asked if your parents or siblings ever had a condition such as cancer or diabetes. Many diseases are hereditary and if one or both of your parents had a condition, you may be more likely to get that condition as well.
In many cases, you are asked if you have been arrested for DUI. This may indicate what is considered risky behavior-risky for your wellbeing and risky for the insurance company’s gamble that you won’t die before the end of the term of your policy. Other more “lifestyle”-oriented questions include whether you are a smoker and even whether you engage in what are regarded as riskier endeavors such as scuba diving or piloting a private plane.
Finally, you will be asked approximately how much coverage you would like to buy, if possible, and approximately how long you want the term of your policy to be. Some policies are for 10 years; others are for 20 or 30 years. The term of the policy you seek-and the options you are likely to find-depends on your age as well as other criteria.
You have to provide very little in the way of personal information to obtain quotes on term life insurance. And, of course, you want to get as many quotes as possible in order to make sure you get the best value on coverage that you will have (and pay for) over the next 10, 20, or 30 years. The best way to make sure you get the best term life insurance quote is to use a free, unbiased online quoting service. It gives you the power to collect many quotes from many different companies, all in one place, all at one time, all in just seconds, and all at no charge.