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Information About How Insurance Companies Evaluate Risk to Prepare Term Life Insurance Quotes
Whether you know it or not, you are a "risk" in the eyes of term life insurance quotes companies when considering term life insurance quotes. If you are like most people — you're not an Olympic athlete but you don't have serious health problems — then you are probably what is called a "standard risk." Standard risk individuals qualify for an insurance company's standard term life insurance quotes. If you are in better than average health though, you could be a "preferred risk" and qualify for lower, preferred life insurance quotes.
Yes and no. Some things about your health you can't change. But there are lifestyle choices you can make to reduce your term life insurance quotes : quitting smoking, for example, or taking steps to lower your cholesterol or get your weight down so that you'll become a better risk and improve your rating. Each life insurance company has its own standards for setting term life insurance rates but, if you demonstrate improvements for a year or two, most will consider that evidence of permanent improvement and will consider you for preferred status.
Term Life Insurance Quotes Factors
Here are some of the factors insurance and term life insurance quotes companies consider when categorizing someone as preferred risk. But keep in mind that definitions of standard and preferred risks vary from company to company: