Senior term life insurance is relatively easy to purchase. When shopping for insurance, keep in mind that various details about you and your health will be asked. Providing various details to an insurance provider will secure your chances of obtaining the lowest premiums possible. The following are 6 leading questions and factors an insurance provider will ask while receiving a quote for senior life insurance.
What State do you reside in?
Different states have varying rules and regulations that govern senior life insurance policies.
What is your age?
A senior life insurance policy quote slightly depends on your age. Seniors are usually considered to be between the ages of 55 and 75. The closer you are to 75, the higher your insurance rate will probably be.
What is your height and weight?
While no medical exam may be needed in order to obtain a senior life insurance policy, agencies may still ask your height and weight. Agencies want to know if you are healthy. Those who are not at a healthy weight for their height will tend to receive higher rates. Information such as this may be verified with medical records if an agency feels that it is necessary.
Do you smoke?
Smokers tend to have more health problems, in turn making them a bigger risk to insure. Because of this policy rates may increase.
How long do you want the insurance?
In order to provide the most accurate quote, agencies will ask how long you wish to have the insurance. The length and amount of the senior life insurance policy you want is going to determine the senior life insurance rates available.
Once aware of these main questions and factors, the process of obtaining a senior life insurance quote will go quickly. Being prepared will not only make you feel better about the senior life insurance rates received, but will move you forward with the best policy for you and your needs.