Are you interested in buying a million dollar life insurance policy?
If so, you probably want to find a safe, secure insurance company that offers the lowest rate for your policy.
How to Find the Best Life Insurance Rate and Carrier?
Here are some tips for choosing the safest, most affordable company to purchase your million dollars of life insurance:
1. Compare pricing among multiple leading life insurance companies.
2. Consider Term life insurance, which is the cheapest type of life insurance.
3. Choose an Insurer rated "A" (Excellent) or better for financial strength.
Tips for Saving Money on Your Life Insurance Policy:
1. Buy life insurance at least 6 months before your next birthday to get a lower rate.
2. Compare term life rates for a period of 10, 15, 20 and 30 years of coverage.
3. If you smoke, quit smoking, rates are much lower for non-smokers.
Do I need to take a physical exam?
Life insurance companies usually require a medical exam if someone is applying for $100,000 or more of life insurance. For a one million dollar policy you will probably be required to take a physical examination, blood and urine test.
However, there is an "A++" rated life insurance company that offers up to $1,000,000 of term life insurance without any health exam required, just some health questions.
By comparing rates for life insurance among the leading life insurance companies you will be able to quickly find the most affordable plan from a highly-rated insurance carrier.
Will I Qualify for $1,000,000 of Life Insurance?
You should also be advised not everyone qualifies for $1,000,000 of life insurance.
There are several risk factors that will affect whether or not you qualify, including your age, health, income, occupation, driving record, hobbies, if you smoke or not, your height-to-weight ratio, among other factors.
Also, the amount of life insurance you already own will affect your ability to qualify for $1,000,000 of life insurance.
Usually, a person may qualify to buy up to 10-20 times their annual income in life insurance. So, if you earn $25,000 per year, you may be able to buy up to $500,000 of life insurance.
However, if you already have life insurance through your employer, or you own other life insurance coverage, this may affect how much more life insurance you can buy.
Life Insurance Quotes
Top Pick – WholesaleInsurance
Compare the best life insurance quotes from 40 of the leading life insurance companies in less than 2 minutes. Save up to 73%. Request your free quotes for life insurance.
Highly Recommended – Haven Life
Haven Life uses the information provided in your application to make an instant decision on your application. Healthy, qualified applicants (based on the information provided in your life insurance application) can be insured immediately with no medical exam while other applicants can receive immediate coverage pending a medical exam.