Tips and Techniques to Lower Life Insurance Rates By David Livingston At Isnare.com Ezine Articles

When you decide to buy a life insurance policy, the first question that comes to your mind is - Can I get cheap life insurance rates? Life insurance rates are also called the life insurance premiums. These are fixed amounts that need to be paid to the insurance company at regular time intervals. The life insurance rates may be affected by the following factors:

1. Smoking
2. Medical record
3. Occupation

The life insurance rates for smokers is often much higher than those for non-smokers. The higher life insurance rates are due to the fact that the smokers are more likely to die earlier in their life than the non-smokers. So, if you are a smoker and you want to get your life insurance rates down by 20 to 30 percent, then you may have to quit smoking at the earliest.

If you are suffering from some terminal illness, then the life insurance companies will definitely not grant you a life insurance policy. Also, if you are suffering from a chronic heart disease, you may not be granted a life insurance policy. However, there are some life insurance companies that do offer life insurance policies to people suffering from heart diseases. When the life insurance companies offer life insurance policies to people suffering from heart diseases, they increase the rates.

Your occupation is also a crucial factor in determining your life insurance rates. For example, if you are working on a ship containing gas or any other hazardous chemical, then you will have to pay a lot more for life insurance. So, for low life insurance rates, you may even have to switch jobs from a dangerous one to a safer sedentary one.

If you want to go for life insurance no exam policies, then you will land up paying more premium than the regular. For life insurance no exam policies, you don't need to give a medical examination; so the rate of the life insurance is relatively higher than the life insurance policies that need medical examinations.

The life insurance no exam policies are free of problems and vexation and one may procure them within a few weeks at the latest. But first one must ensure one is fit to buy these policies. They come with many terms and conditions that one comes to know only after a careful perusal of the policy papers. The life insurance no exam policies are also advantageous because there is no involvement of paperwork or of insurance agents either.

The life insurance no exam policy may also be obtained online - just get a hard copy of the same. That does not mean a visit to the life insurance company. All it means is taking a printout of it at your home or office. But keep in mind that the online policy can be obtained only after payment of first premium.

Also, there are restrictions on insurance coverage with life insurance no exam policies. In order to increase the coverage period, it may become necessary after all to go for the medical examination. Some insurance companies have mentioned benchmarks for medical examinations. Like for example if you are less than 40 and your coverage amount is not more than $100,000 then you do not need a medical examination.

If the insurance companies don't ask for medical examinations, they will surely ask you few medical related questions. Make sure that you answer these questions very honestly. If you are not honest with your answers, there may be chances that you may be caught later.

There is a variable called contestable period for most life insurance companies. The length of this is 1-2 years. Within in this period, your application must provide all your medical details failing which the company may change or altogether nullify your policy. Hence, if your requirement is low life insurance rates, do not opt for life insurance no exam policies and go for one that involves medical examination.

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