If you have finally decided that it’s time to get life insurance, you should know about some basic things that will play part in the whole purchasing process. For instance, it is a must for you to learn about the different rate classifications. This will somewhat determine how much will be the cost of your policy. Below is a list of the common criteria, get familiar with it so that you can at least have an idea as to which classification will you belong.
* Preferred-Plus Term Life Insurance Rate – To qualify for the ‘preferred-plus’ life insurance rate, you must not use tobacco in any form, you should have no history of drug or alcohol abuse, and you cannot engage in any perilous activities. According to actuarial tables, these are the people who will perhaps live the longest, and therefore qualify for the lowest available premiums.* Preferred Life Insurance Rate – In order to qualify for this rate, you must be in your best health condition and you should not participate in hazardous activities.
* Standard Life Insurance Rate – Individuals who have minor health problems like cholesterol or someone who is moderately overweight can possibly qualify for these rates.
If some things are quite unclear to you, contact an agent and let him explain these to you in detail and remember, never settle for the first offer you receive.
