One of the important things to consider is whether the company you are buying from is underwriting conservatively and collecting the appropriate amount of premium. As a customer you want to work with a company that collects enough premium and doesn’t accept to many risky applicants. The basis of a life insurance company is the ability to pay out a benefit to you and your family. If they are not collecting enough premium now, will they have enough money down the road to pay the benefit.
We try and work with our clients to not only determine the length of the policy, but also the strength of the company and the companies evaluation process. Also, certain companies will underwrite for certain conditions more favorably and establish a niche with those types of candidates. For example, if you are a smoker than often times Prudential will be the best company for you to go with as they seem to underwrite favorably for that.
Make sure to consider if the company you are going to apply for is asking for enough premium. Typically they are, but don’t always assume the lowest price is the best way to go. Make sure you are looking at companies with at least an A rating.