When getting a life insurance quote, your agent should ask you at least 10 questions about your health and lifestyle. If he doesn’t, you’re in danger of the old bait and switch move. This is a shameful sales tactic agents use to hook you in. The agent tells you you’ll qualify for the best health rating and quotes you their lowest premium based on lack of information (because he didn’t ask the proper questions), or the quotes are a blatant lie just to get you to apply for the policy.
Then the insurance carrier approves you at a lower health rating (and higher premium). Now the agent has to call you with the new price (the switch). By now you’ve already waited a month or so to hear this news, and the agent tells you you probably can’t get a lower price elsewhere, so you should accept the offer. You agree and end up paying more for term life insurance, universal life insurance, or whatever the case may be.
A good agent asks questions about all the following before giving you a quote. As it relates to health, the agent should ask about any medical conditions you have or have had in the past 10 years, whether you’re taking medications or not, if you smoke, and even will inquire about your build. Of course, you’ll also have to reveal your date of birth, as age is a primary factor in calculating premiums. He should also ask whether you have a history of cancer, diabetes, or heart disease in your family. Due to genetics, life insurance underwriters do factor this into your offer.
The life insurance agent should also ask some questions about your lifestyle, such as if you participate in any hazardous activities, like skydiving, rock climbing, racing, and so on. Have you had any DUI’s, DWI’s or tickets in the past 5 years? What is your occupation? These questions may seem intrusive, but it’s good common sense, isn’t it? If you race speed boats or had a DUI 2 years ago, you’re a riskier person to insure than the average joe, right?
Keep these factors in mind when you get a quote on the right hand side of this page. If you think any of the health or lifestyle factors I mentioned would make you a riskier person to insure, you might not qualify for the best rating “preferred plus”. Try “preferred” or “regular” for more conservative quotes. The best thing you can do is talk to an independent life insurance agent like me, who will ask you all the right questions, find the carrier that has the lowest premium for your specific medical condition or lifestyle choice, and give you an accurate quote.
Call me at (619)564-4873 and I’ll show you exactly what life insurance agents should ask their prospective clients.
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