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What You Didn’t Know About Term Life Insurance Quotes

Here’s what you need to understand about getting quotes for term life insurance.

If you are shopping around for the right life insurance, you have likely requested quotes from multiple insurance providers. However, there is still a lot that you might not understand regarding your term life insurance quote. Here are some things that you might not know.

  • Your Quote is Not Your Final Price

While you might receive a quote from a life insurance provider, it’s important to remember that this is just an estimate based on the most basic and general information. When you actually apply for life insurance, you will have to offer more detailed information and probably complete a medical examination. Based on this information, your actual premium will be calculated. Chances are that your final price will be different than your original quote.

  • The More Your Agent Knows, the Better

The more details your life insurance agent knows about your lifestyle and health, the more accurate your quote will be. This is why it’s so important to be forthcoming and honest about any information they require. Keep in mind that lying won’t end up saving you any money. In fact, it’s much more likely that you will be caught and your premiums will be raised or your coverage will be denied altogether.

  • Premiums Will Vary Depending on Company

The same amount of coverage for the same term length will vary depending on the insurance provider that you choose. This is largely because certain companies are better equipped to handle certain risks as compared to others. For instance, some companies might offer more reasonable rates for smokers because they have plans designed to handle this risk. This is why it’s important to seek quotes from multiple companies. Oftentimes, your best bet is speaking to an independent agent who has access to multiple carriers and who can choose the best coverage option to fit your needs.

Interested in learning more about your life insurance? Don’t hesitate to contact the experts at Pierce Insurance Group. We are ready to assist you with all your coverage needs today.