(PRWEB) November 18, 2013
Life insurance agencies determine the cost of a life insurance policy during a process called underwriting. Over 70 factors are taken into account when determining life insurance rates. Understanding the most important issues is essential for people who need life coverage. Someone who knows how their life insurance rates are determined will have better chances of finding cheaper coverage. Online Insurance Marketplace presents some of the most important factors that have a big impact on your life insurance rates. These are: age, health, body mass index, vices, working conditions and many others.
All life insurance agencies work on the same principle: the healthier, younger and fit an applicant is, the better. Agencies want to insure people who are in no risk of dying in the near future. Since agencies work on risk categories, an applicant has to prove that he or she is in no danger of dying in the next several years. Of course, accidents are harder to predict, but it is possible to a degree to tell if someone will suffer from terminal diseases in the future. For example, someone who smokes is more likely to develop a form of terminal illness like lung cancer and someone who is obese is more likely to suffer a heart attack. Both these persons will get higher premiums at the agency takes higher risks insuring someone in any of the above conditions.
Of course, an agency can refuse to cover someone on various grounds like medical problems. Age can also stop someone from getting a life insurance plan. Agencies will not offer coverage to people who are older than 65 years. However, these people can still get life insurance, at higher rates, by applying for no medical exam life insurance. Besides health and age, the BMI (body mass index) also plays an important part in the underwriting process. Someone who suffers from obesity will get life insurance at a higher price. Even the workplace can have an impact. For example, people who like extreme sports may not be able to get any life coverage.
“Online Insurance Marketplace offers many valuable information about the life insurance underwriting process. Those interested, should read the tips provided!” said Russell Rabichev, Marketing Director of Internet Marketing Company.
Online Insurance Marketplace is an online provider of life, home, health, and auto insurance quotes. It is unique in that this website does not simply stick to one kind of insurance carrier, but brings the clients the best deals from many different online insurance carriers. This way, clients have offers from multiple carriers all in one place, this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.
For more information, please visit http://wholelifelifeinsurance.org!