Life insurance at the present time is very affordable. Competition in the life insurance market together with the cost savings that life companies are making by operating on the Internet has depressed insurance rates, bringing them down to historic low levels. For a healthy non-smoker in their 20s, life insurance rates can in fact be as cheap as 5 per month!

However, there are many factors that influence the final outcome of the life insurance rates for any one individual. Everything from hereditary diseases to diet will figure and, depending upon the answers that we give to the insurance company, will see our life insurance rates climb higher or drop lower than the average rates for our age.

So, just what factors will affect the insurance rates that a life company will quote for life insurance? Here is a summary of the most important elements to consider: –

Age – The younger you are the lower your life insurance rates; the older you are the higher your insurance rates. Young people are seen overall as less of a risk to the life insurance company than older people. This is because the life company simply anticipates that young people with live longer than older people over a finite time from the current date forward. As a result, young people will contribute a higher number of monthly insurance payments before they die than will older people over the same timescale.

If you’re in your 40s or 50s and lead a very active and healthy lifestyle this age-bias may seem a little unfair. However, given that a 25 year-old may clock up more than fifty years of monthly repayments to reach the age of 75, you on the other hand would only complete twenty-five to thirty-five years worth of repayments to reach the same age. When factored in with the increasing likelihood of death the further we get to our life expectancy limit – so heightening the risk that life companies take on paying out – it is quite easy to see why life insurance rates are bumped up to compensate as we get older.

Smoking – Non-smokers have lower life insurance policy rates than do smokers. In fact, should a smoker quit and then take out life insurance they could save as much as 50% on their insurance rates. If you are thinking of quitting though it is important to check your life insurance policy, as some insurers will not reduce the rates if you quit during the life of the policy, forcing you to change insurance company if you want to benefit from non-smoker rates.

Pre-existing Health Conditions – Hereditary diseases, especially those that run through both sides of the family, may have a significant impact on rates quoted for life insurance. Also, if you are required to attend a medical and are found to be less healthy than the ‘average’ for your age, then insurance rates are likely to be more expensive.

A Free Term Life Insurance Quote Is Only Easy To Obtain

By searching online for life insurance, you can get a free term life insurance quote with no obligation to buy. In order to get the free term life insurance quote, you fill in the form on the appropriate page of the life insurance company website. You do have to make sure you provide honest answers to all the questions in order to get the life insurance you need.

Once the company receives your request for a free term life insurance quote, then an agent will carefully review the application and email a quote to you based on the term of the policy and the amount of the death benefit. You should not base the quote you receive on that of a friend or another family member because every individual is different in hisher needs. Because you are shopping for low cost term life insurance, you do need to request free quotes from at least three companies.

Term life insurance is only good for the life of the term. At the end of the term, you have the option to renew the policy, but you may not get it for the same free term life insurance quote as you started with. This is because your age has certainly changed and your needs in terms of a settlement have also changed. However, you still want to get the best rates possible for low cost term life insurance.

You do not have to be in perfect health to get a free term life insurance quote. In fact, you can get low cost life insurance without even having a medical exam. Even if you do have life-threatening diseases, you can get a free quote for term life insurance but it may not be the low cost term life insurance you are hoping for. This is because you are in a higher risk category because your chances of dying within the term are much greater. Even if the premiums are a little higher, you are still leaving something for your family and to pay for your funeral.