The key to finding the lowest life insurance rates by age is to have options. At TermLife2Go, we provide our clients with options from dozens of top rated top life insurance companies and no medical exam companies. This is how we help our clients find the lowest priced life insurance at age 47.
Life Insurance at age 47
If you’re 47 years old and you do not have life insurance yet or your thinking about getting additional coverage, then this article is meant for you. Life insurance at age 47 can be really inexpensive if you know where and how to look. So before you make any decisions, be sure to consider the following tips on buying life insurance at age 47.
And just so you know, getting a million dollar life insurance policy with an exam and without an exam is available.
4 Tips to Find the Best Rates on Life Insurance at age 47
#1. If you don’t know, don’t test!
One thing about buying life insurance in your 40s is that if you haven’t visited you primary care physician in the past 12 months or had a physical that included a blood draw, and you’re not currently taking any prescription medications, you might want to avoid the risk of having an insurance company diagnose you with one of the following ailments such as:
- high blood pressure,
- high cholesterol,
- or elevated blood sugar (see diabetic life insurance).
Being diagnosed with any one of these aliments will increase amount you will pay for your insurance. Additionally, you should know that insurance companies do share information about applicants with one another so that once an insurance company performs a medical exam on you, that information will be recorded and stored for other insurance companies to review.
For this reason, if you’re not sure that your medical exam is going to come back perfect, don’t take one. You would be better off going with an alternative policy that offers coverage with a non medical option first.
TermLife2Go specializes in placing both medical and non medical term life insurance policies and have found that many of the non medical options are currently as competitive if not more competitive than those requiring full medical exams.
#2. Get it now!
An applicant’s age is usually the number one determining factor in the premium that you will pay. So today really is the cheapest your insurance is going to be for you. So don’t delay!
*** It should be noted that in some cases delaying getting coverage may make sense, for example:
- You are currently trying to stop smoking and need to wait a year to get non-tobacco rates.
- You need to wait a year to clear up a DMV issue.
- You have a pre-existing medical condition that may require a waiting period before a life insurance company will underwrite you.
However, for most 47 year old’s looking to buy cheap life insurance, waiting only means one thing: your life insurance policy is going to cost more when you do finally decide to take the step and apply.
#3. Not all Insurance Carriers are the same!
Each insurance company has its own rules and guidelines that it will follow when underwriting an application. Some companies may have very strict guidelines when it comes to certain conditions while carriers may not even consider the condition an issue. This is why it’s really important to know which carrier to use and why!
Now the good news is that the life insurance industry is just like every other industry out there competition is always pushing insurance companies to fight for your business. As a result, different life insurance carriers take on certain “niches” in an attempt to gain market share. These niches may shift from time to time but generally life insurance companies become known within the industry to zero in on certain groups.
Which brings us to our next point…variety is the key to saving money!
#4. Find someone that is working for you, not the insurance company.
With so many options to choose from and so many different carriers competing for your business, it’s essential for you as a consumer to work with an agency that is not bound to any one specific life insurance carrier. The agency that you choose should be able to shop your application to dozens of different life insurance carriers forcing them to compete for your business.
Only by choosing to work with an agency that represents multiple life insurance carriers can you ensure that you are getting the best policy to protect you and your family. After all…
Doesn’t it make sense to work with an agency whose sole focus is you?
Totally confused?…. Don’t be, this is where TermLife2Go steps in, as an independent agency our agents are committed only to you and your family. Our main goal is to help guide you through the process of:
- First, choosing from among the different types of life insurance, whether it be Term Life Insurance versus Cash Value Whole Life
- Second, determining the appropriate coverage amount.
- And third, determining which carrier will give you the best rate available.
By working directly with TermLife2Go you will have an assigned agent dedicated to your application. This agent will be available to you throughout the entire application process; he or she will provide you with status updates as your application goes through underwriting and will also review your application at time of approval to ensure that you are still getting the best deal out there!
So what are you waiting for? Just give us a call to see just what we can do for you!