A: First of all, there are lots of reputable term life insurance quoting sites out there that offer instant quotes for many carriers as well as helpful advice, so we're not here to slam the competition.  But for those who want to shop without fear of intrusion, there are lots of sites which seem to offer live, instant quotes, but don't.  When you submit your information hoping to get a quote, your information is actually sold to several life insurance agents, and this is something you have no control over.  Any one who is willing to pay for the lead gets it.  Do you know which sites offer instant term quotes and which ones don't?  If not, and if you do not want to be hounded by 5 or more life insurance agents for the next month, then you may want to end your search here. We will never sell your information to anyone at any time for any reason.  If you want to remain anonymous, no problem with that either.  We understand that you may just be curious without being ready to buy, so we do not use form validation.  There is also one more reason, and that is, we are passionate about saving you money.  If we are privileged enough to earn your business you will find out that this is true.

Q: Who is eligible for term life insurance?

A: For any kind of life insurance, the first thing you must have is something called Insurable Interest.  Secondly, you must be able to medically qualify.  Third, you must be able to pay for it.  Term life is available for seniors, college students, kids, really just about everyone.  That is to say, basically everyone between the ages of 0 and 75 (and sometimes older in special cases) can qualify for term life insurance).

Q: So I have to take a medical exam before being considered for life insurance?

A: No.  If you don't want to take an exam there is something called No Exam Life Insurance offered by several carriers including HSBC, Fidelity Life, RBC, GTL, and a few others.  It is quite a bit more expensive than regular term life insurance, but it is also a lot faster to obtain, and of course, it doesn't require an exam.  This should not be interpreted to mean, however that everyone can qualify for it (or, as they say in the industry, "Guaranteed Issue".  There is such a thing as guaranteed issue health insurance, but any life insurance product will require some kind of medical evaluation even if it is only a written one.  Note: Beyond Quotes used to recruit agents who were interested in selling this product.  IF you have come to this site for this purpose, may we kindly refer you to: Health Insurance Leads .You should also know that with No Exam Life Insurance, your policy is likely to offer fewer benefits and options.  For example, it might have an accelerated death benefit, and there may not be a convertibility option either.  One thing to think about if you decide to go with a traditional term policy is that the paramed exam is basically a free head to toe physical.

Q: How is term life insurance priced?

A: The cost of term life insurance is influenced by many variables including sex, age, health status, amount applied for, riders added, state, and term length.  For most people a fairly considerable amount of it can be had for less than $35 per month.  But the price can be much higher or lower.  Every situation is unique.

Q: How will my health status affect the amount I pay for term life insurance?

A: This is the second most important variable behind age, and in many cases the most important variable affecting life insurance rates.  When you get your quote, keep in mind that most people qualify for "Standard".  IF you are not in absolutely perfect health, you will be disappointed if you assume that you will somehow qualify for the rating class of preferred best.  Most life insurance companies set divide applicants into at least 5 general health categories.  They are:

• Preferred Best--You have to be in excellent health to qualify for this rating class. 
• Preferred --This means solidly better than average health
• Standard Plus--Height/weight proportionate, maybe one or two meds
• Standard--This is the rating class that most people qualify for
• Tobacco--For most, but not all companies, it doesn't matter if you smoke cigarettes, pipes, cigars or chew.  If you use tobacco, you're going in this category and you're going to pay more for life insurance

Q: If I am approved for one rating class, can I later be approved for another rating class if my health improves?

A: Yes!  You most certainly can.  Different carriers have different waiting requirements, but if you purchase life insurance, then subsequently lose a lot of weight, stop smoking, or lower your cholesterol and blood pressure, we recommend that you let us have a look so that we can get you qualified for a better rate.

Q: Should I consider whole life instead of term life?

A: Most insurance experts these days recommend term life insurance in just about all cases.  Beyond Quotes doesn't really take a position on the matter.  Whole life costs considerably more but it is permanent, and there are some people may like having that peace of mind.  One thing to keep in mind when buying term insurance is that many if not most policies have what's called a convertibilty option which will allow you to "convert" the policy to a permanent policy without evidence of insurability as long as you are willing to pay the for what it will cost at the time of conversion.  Usually the convertibility option expires between the ages of 70 and 75.

Q: What is the best age to buy term life insurance?

A: When you are young, of course.  It is at this time that you are most likely to qualify for least expensive rating class, Preferred Best.  Life insurance for people who are in their 20's, even those who qualify for standard, is dirt cheap.

Q: What are the term lengths available?

A: Term life insurance is generally sold in 5 year increments up to 30 years, so we have:

• 5 year term
• 10 year term
• 15 year term
• 20 year term
• 25 year term
• 30 year term 

The longer the term length, the more the policy will cost, but overall the value will be greater.  In most cases, 10 year term will cost about the same or less than a 5 year term policy because it takes the insurance company several years after a policy is issued to make up the cost of underwriting.

Q: Which company offers the cheapest term life insurance?

A: There is no one company which is cheapest for all people all the time.  In fact, the company that is cheapest for one person may be the most expensive for another.  This is why it pays to shop around a little and compare the rates of as many companies against each other as you can.  It takes a little work, but if you are diligent you can save a lot of money on your life insurance.

Q: I am not exactly in perfect health.  What is the possibility that I can get term life insurance?

A: Most people are not in perfect health.  If you have diabetes, or if you have had cancer or heart disease it doesn't automatically mean that you will not be able to obtain life insurance even if you've been told that by some agent.  Life insurance is a dynamic field and the major carriers have a much looser policy than they used to.  Be prepared to spend more, but understand too that the insurers risk is also greater.

Q: What if I want to cancel my policy?

A: If you buy a policy and then later decide to cancel it, no problem.  With life insurance, you are never contractually obligated to keep making payments for the life of the policy

Q: What if I already have a policy?  

A: Pat yourself on the back for providing this valuable protection for your family.  If it has been a few years, it is wise to shop the market to see if you may be able to get a better rate.  Your chances of paying less for your policy are actually very good.  The reason for this is that before the advent of the Internet, most people did not really shop for life insurance.  If they did, they may have compared up to 3 or 4 companies, max.  Now you can compare up to 40 companies within seconds, and there is usualy a great deal of difference in terms of price between the highest and the lowest.

Q: How do I know how much to get?

A: It is really up to you.  If you were going to calculate your life insurance need, you would want to look at how much you owe on your mortgage, what you salary is times 5 years, how much it might cost to fund higher education for your children, average burial expense, and these kinds of things.  Realistically though, most peole have a certain budget to work with, and it is really a matter of deciding, with the funds that are available, whether you want a higher face amount and a shorter term, or a lower face amount with a longer term.  For most people it probably would make more sense to go for the longer term and lower face amount since there as you age there is an increased possibility that you will die.  If you buy 30 years of life insurance in increments of 10 years, you will spend a lot more than you would if you just simply purchased a 30 year term.  Additinally you might also not be able to qualify for another term policy if your health declnes.  One other important thing to know: you can't apply for more than your entire net worth.  If you want to apply for an amount greater than $1,000,000 most life insurance companies are going to want to see documentation that you're actually worth this much.