Why do Life Insurance Quotes Differ Depending on the Company? |
|
Answer:
As you shop around for life insurance, you will find As with any type of insurance, life insurance companies use several different factors when determining their rates. While these factors such as your age or whether or not you are a smoker are considered by all of the companies, they may be weighted differently. In addition, the policies being quoted by the different companies may not be identical even though you have provided each company with the same information. For example, one insurance company may be quoting a term life insurance policy while the other company is quoting a whole life insurance policy . Another may be quoting a policy with a lower death benefit. Another may be less expensive because you have multiple policies with the company. Another reason may be related to the market that the insurance company targets. For example, an insurance company that specializes in insuring a lower-risk population may have lower rates than one that insures a group of higher-risk people. If you are in the company’s preferred demographic, you may get a better price than if you fall outside of their demographic. Trackback(0)
Comments (0)
 Write comment
You must be logged in to post a comment. Join for free or Login.
|
TrackBack URI for this entry
Subscribe to this comment's feed
© QandAs.com, All rights reserved.
Save or Share