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Admiral Jepsen

Why do life insurance quotes vary so much? - 0 views

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started by Admiral Jepsen on 19 Jul 12
  • Admiral Jepsen
     
    One of the first steps in purchasing new life insurance is to receive a quote. Life insurance quotes can be confusing because they are not guaranteed. The life insurance company is not bound by the quoted price because quotes are typically requested before people go through the application process.
    The purpose of the quote is to provide an individual with most accurate prediction of what new coverage will cost. Unfortunately, this is not an exact science. It is the job of the life insurance agent to collect the relevant information needed to provide an informed and accurate quote.
    Life insurance companies consider several factors when evaluating an individual who is applying for new coverage. Life insurance companies look at obvious factors such as your age, sex, health history and whether you use tobacco. But they also look at less obvious factors such as your finances, your family health history, your driving record and your criminal history.
    Once the life insurance company has completed their evaluation they will provide an offer. The offer is the actual cost of the new coverage.


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