LIFE INSURANCE Quote Online

Underwriting Factors

Life insurance companies evaluate many factors to determine your underwriting rate class. These factors involve many aspects of your health history, occupation, and lifestyle. Your rate class then determines your life insurance premium. The goal is to charge you a premium that is proportionate to your risk of dying.

Some of the most important underwriting factors are your height and weight, health history, parental history of cancer or heart disease, risky occupation or hobbies, driving record, residency and foreign travel. Some additional factors are blood pressure, cholesterol, and whether or not these are being controlled by medication.

Choosing a Company

Each company uses its own set of underwriting guidelines. Although there are similarities, there are also wide differences. For instance, most companies reserve their best rate class for people with cholesterol less than 220. But, First Colony Life Insurance Company assigns their best rate class up to cholesterol of 240.

Another example is American General Life Insurance Company, which does not use parental history of cancer as a factor. Almost all other companies do. Some companies will even consider parental history of stroke or diabetes.

One more example is regarding citizenship status. Almost all companies require at least a green card to be considered for life insurance. But, Chase Insurance and Transamerica will issue a policy with just an H1B work visa.

Choosing the right company can be worth hundreds of dollars per year. Just follow this link to request a life insurance quote online. An agent will be assigned to completely evaluate your case, and help you choose the best company.