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.