What is the best term life insurance?  That is an interesting question and how do I determine what that means?

I generally think this can be answered through a basic analysis when selecting the carrier you want to work with.  Which carrier will underwrite me the most favorably based upon my specific underwriting situation?  If you have sleep apnea and take medication for a couple of different purposes, then it might be one carrier.  If you have type 2 diabetes it may be a totally different carrier.  Based upon which carrier will underwrite your situation the best, that will determine your underwriting rating and your ultimate premium.  See what offers a Florida life insurance consultant can help with you. 

Another aspect of determining the best term life insurance for you is what is the company’s financial strength.   Generally you want to select a company that has an A rating or better.   This is something you will want to be comfortable as you select the carrier you work with.

When determining the best term you want to look at your short and long term goals and needs with the insurance.  For example, will you only want the term for the term period?  Will you possibly want to convert all or a piece of the term to permanent insurance?  If you will want this as an option then you want to look at what the term carriers offer as conversion options.   Do they have a good whole life option?  Universal Life?  How long do you have to convert it with no proof of insurability?

These questions might help you if you are trying to figure out what the best term life insurance is.  It is going to be specific to your situation and varies per person.

When you are looking for your next term policy it is important to have an agent shop rates for you as rates are dropping yearly.  On top of just the rates, you want to select a company that has good financial strength with all the current financial turmoil.    The average term rate has dropped by an average of 5% every year for the last ten years.

Another factor when looking at term rates, is the conversion options of the company.    Are there good permanent options to convert to if you want a permanent policy down the road?  Do they offer universal life, whole life, variable life, etc.  These are all important questions to ask your agent.

Term rate quotes are just quotes technically and just a guestimation of what the premium might be based on the limited info the agent has.  Just because an agent quotes you select preferred, don’t assume you can get that rate.  You might be able too, but you have to go through underwriting before you truly know the premium.    If something seems too good to be true, it probably is.   For a free analysis, and a realistic analysis you can speak to a Paramount Consultant

We will help you evaluate your different options as well as provide you insight on different company’s.  Certain company’s give better rates to smokers and that is important as you apply if you are a smoker.  What if you suffer from Sleep Apnea or are a pilot, where is best to apply?  At Paramount, we look at all of those factors and consider all of them to help our clients get the best offers.