Five key factors have the potential to affect insurance premiums: dog or large animal ownership; occupation and lifestyle; history of past insurance claims; credit score; and smoking habits. While some of these factors may seem surprising at first, they make sense when one understands the reasoning behind them.

Dog insurance claims cost millions of dollars every year. For example, California insurers paid out $480 million for dog bite claims in 2011 alone. Claims like these fall under the umbrella of renter’s or homeowner’s insurance, so if you want coverage, an insurer will want to know what breed of dog or other large animal you have. Some dogs may be excluded depending on their breeds, or a surcharge may be added if your dog has displayed dangerous behavior in the past. If your pet causes too many claims, your premiums may increase significantly, or your future insurance coverage may be declined.

Have a high-risk career as a construction worker, rodeo cowboy or diver? Your premiums for life insurance will be higher. Insurers will want to know if policyholders who travel outside the country participate in extreme sports like ballooning or skydiving. Some sports activities can also raise insurance rates, though policies differ at each insurance company. Always shop around for the best prices and coverage.

Some states have rules and regulations dictating that insurance companies can increase your premiums once you have filed any claim. By company logic, if you file once, you are likely to file again. All claims are on record. However, some insurance companies do have claim forgiveness.

Some insurance companies will check credit scores when calculating premiums for life, property or casualty insurance. Insurers claim that credit scores show how responsible you are; bad credit indicates that you may not be responsible. This practice is legal in some states. These checks are not permitted for health insurance premiums. Get several quotes from different insurers if you are concerned about your credit rating affecting your life insurance rates.

Even though the Affordable Care Act ensures that no one may be denied coverage or charged higher rates for pre-existing conditions, insurance companies may add up to a 50 percent surcharge for smokers. Some states allow the highest possible rate; others have smaller surcharges. If you want to reduce your premiums, enroll in a class to stop smoking. Life insurers rate smokers at a higher risk for life-altering medical conditions.

Not many people think too much about buying term life insurance online versus in person. In fact, when they get online to ask for quotes, they are looking for a deal, not considering how an insurance company sets its policy prices. Here is a bit of information that might come in handy for you and make your life a little be less expensive when it comes to term life insurance.

Most of us use the Internet to pay our bills online, check car insurance rates, trade stocks or whatever other financial transaction that they need to do. And we all know you can certainly track down term life insurance quotes online. However, did you know that when term life quotes were first uploaded to the Internet that term life insurance rates dropped by almost 50 percent? They dropped because the big boys on the block now had to compete with one another because everyone now had their rates out in the open where all and sundry could see them.

It used to be that if someone wanted this type of insurance, they only saw the price listed on a proposal brought to them by an agent. It was not easy to compare rates unless you had more agents come to your home, write offers and provide a quote. In short, price transparency —- thanks to instant quoting/comparing —- has changed the pricing of term life insurance.

By the way, this drop in pricing is also applicable to health insurance quotes online. The prices have dropped for the same reason, competition. Look for a reputable insurance company, one that deals with a reputable network. Compare pricing online by asking at least three providers for quotes, whether you are searching for health insurance or term life insurance.

Price comparisons are the gold in your online shopping journey for insurance. Take the time to cross check and compare and you will find a deal. It just takes a bit of patience, and by all means, if you do not understand what a quote includes or why it seems to be different that other companies, pick up the phone and ask. It’s your money, your health/term life insurance policy and you want to know as much as you can before you buy.

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Even if you don’t really think you would convert your policy, it only makes sense to have that option available to you, in case something in your life changes and you need to convert it. And we all know how unpredictable life can be on occasion. So just be prepared by having various options at the ready for the future.

Is converting a rigmarole? No, actually it isn’t. You need to find out if you can convert, because it lets you do that without having to offer proof that you’re in good health. So should you develop a serious illness in the months just prior to the end of your insurance terms, you may be able to convert to a whole life policy and not get stung too badly on premium payments. If you don’t have the ability to convert, that is a whole other can of worms and it could well be expensive too.

Be aware that there are some insurance companies that offer low premiums, but do not offer the option to convert. While that might be a nice touch up front, and get you interested in their policies, it won’t do you much good it you want to have the option to convert. Never buy an insurance policy without knowing what it does cover and what it does not, or what it offers and what it does not. Also, don’t compare a policy with the conversion option to a policy without the conversion option. That is apples and oranges, and does not work.

The long and short of it is that you want what is best for your family, and if that involves term life insurance that may be converted to whole life later, then you may wish to go that route. Always do your homework. Ask questions. Then, ask more questions. You have choices and it’s best to make decisions based on solid information, not just pricing.

Clelland Green is with Benepath.com, a leader in providing health insurance quotes. Benepath provides individuals, families, and businesses with affordable health insurance quotes in just a few mouse clicks. To learn more, visit http://www.benepath.com.

This can never be said enough: “Always read your insurance policy.” While that statement typically tends to elicit loud groans, it is vitally important you know what is within the four corners of any insurance policy you buy. This is why you need to read the policies and compare rates before you buy something. You also need to have a general idea of what you want in terms of an amount for your policy. Don’t get too uptight about choosing a number, because there really isn’t a magic number.

Generally speaking you need somewhere between ten and twenty times your income when choosing term life insurance. That is not a hard and fast rule. It is just a suggestion, as everyone’s situation is different. Some people will add up everything they make, no matter from what source. Others will just figure out a number based on their monthly paychecks. In short, you need to decide for yourself how much coverage you want. Or, if you wish, discuss that with an insurance agent and get some other suggestions. It’s pretty much up to you as to how much you want and need.

How long do you need your insurance? Again, that choice is up to you. Having said that you may choose anywhere from 10 to 30 years. Usually, younger people choose the 30 year policies, largely because they get a low rate for a longer period, but again, every situation is different. Some like 20 or 25 year plans if they have young kids. The point is you have choices and quite a lot of them, to make anything possible. In other words, you have flexibility and that is important.

Be aware that term life insurance rates are different for every company, and that is not unusual. Just do your homework, shop around, see what fits and go from there.

Many companies offer a wide variety of incentives to their customers as well, such as return of premium or a yearly renewable policy if that is more suitable than a long-term policy. If you want something, chances are it is out there for you to find with a bit of online searching.

Buying term life insurance is a big decision and one that you need to take time deciding on what you want. The last thing you need is to end up with a policy that ultimately costs you more than it should. Yes, it happens if you don’t watch what you are doing, ask questions and stay informed. Truly, it is your life —- insurance policy.

Clelland Green is with Benepath.com, a leader in providing health insurance quotes. Benepath provides individuals, families, and businesses with affordable health insurance quotes in just a few mouse clicks. To learn more, visit http://www.benepath.com.

What many American do not realize is that term life insurance quotes are actually some of the most cost-effective around. Check it out online and see what we mean. There are a plethora of different policies to choose from, so you are not tied to just one or two and therefore stuck with what the company is selling. And, one thing to understand before you start looking for term life insurance is that the way they are structured guarantees lower premiums that can fit just about anyone’s budget. You also get to choose your term, so if you don’t feel comfortable being tied to a long policy, this may be just what you need.

Remember, before you buy anything, understand what you are buying. Sure, you don’t like reading policies and the legalese, but it is vital that you understand what your policy will and will not cover. So, know your lifestyle and what kind of coverage you are looking for before you fork over cash.

Term life insurance is considered to be the original life insurance, and it is, when it comes down to brass tacks, really fairly straightforward. You have the option to make payments at a fixed rate over the period of time you choose to be covered. When that period is completed, the coverage ends. The reason the premiums are so low is because the risk to the insurance company of paying out is lower than with a universal life policy.

Term life insurance may be chosen for a period of a year and on up to 30 years if they wish. Should the insured pass away within the term period, the beneficiaries receive a payout. If the insured is alive at the end of their term, they may extend their coverage. So actually, you have the control over what works the best for you.
Don’t let uncertainty stop you from finding out about the direct benefits to you of buying term life insurance. You will be amazed at what is possible these days when it comes to keeping costs lower.

Clelland Green is with Benepath.com, a leader in providing health insurance quotes. Benepath provides individuals, families, and businesses with affordable health insurance quotes in just a few mouse clicks. To learn more, visit http://www.benepath.com.

Many Americans have misconceptions about term life insurance, and in fact, about life insurance in general. They think getting it is a jinx, and might mean they will die earlier, that it is too expensive, that it is only for a limited time, and that they have no control over the contents or dispersal. None of these myths are true, but they are heard so often, people think they are the real deal.

Here is the truth. You, the buyer, may decide on a plan that suits your specific needs and then set a specific time on when and how much you want to pay for premiums. In short, you dictate what your want and ultimately purchase, not the agent. You just need to remember that a term policy is for life coverage only and you may buy terms for up to 30 years. If the insured dies, the policy pays out to the beneficiary the face value.

Where do you start your search for the right kind of term insurance; insurance that you are happy with and at ease with, knowing it will do what you wish it to do on your death? The best place to start a search is online, as this gives you enough choices to compare the various policies available. Can this be a confusing process?

It can be, as inevitably there will be terminology that is baffling and not as clear as you would like it to be. Just pick up the phone and call the agent. Cut directly to the chase. Tell them what you want, how you would like to achieve your goal(s) and let the agent make recommendations based on their intimate knowledge of the products they carry.

You will get a good sense of what is out there by comparing the details of what you find. The best policies will offer you solutions that are affordable and let you revise things as needed. Keep in mind that not all term life polices do offer those features, and if you want them, you should ask for them specifically. You also want to ask what renewable means when it comes to term life insurance policies.

Interestingly, so many people are so intently focused on the buying details that they forget to re-evaluate and update their policies every few years. Let’s face it. Life changes for everyone, and there is no sense in having a policy that suited your needs 20 years ago when your whole lifestyle is completely different now. For instance, you may now have adult children and a second wife and the beneficiary on the policy is still your first wife. These things need to change.

Clelland Green is with Benepath.com, a leader in providing health insurance quotes. Benepath provides individuals, families, and businesses with affordable health insurance quotes in just a few mouse clicks. To learn more, visit http://www.benepath.com.

Choosing to buy life insurance while you are young, healthy and strong may seem silly to some, but it is important to note that younger people receive lower rates from insurance providers than older people. Why not pay for life insurance while you are financially secure and are able to receive a more favorable rate on a premium?

One of the options a young person might want to consider is term life insurance. Term life insurance gives coverage to a person at a fixed rate of payments over a specific period of time – or term – usually anywhere from 10 to 30 years. The rates vary depending on the age of the individual who is insured.

If the insured individual passes away during the coverage period, the beneficiaries get a cash payout. If the policyholder lives longer than that time period, however, they can renew at a higher rate or convert the policy into a permanent life insurance policy, sometimes without getting a new medical exam.

Because of their affordability, term life insurance plans are popular with younger people.

Even if you are just graduating from college, it may be a good time to consider a life insurance policy. If you are just starting a family or are thinking of doing so soon, it is important to consider who will take care of your loved ones should some unforeseen illness or accident impact you. How will they be provided for? A life insurance policy can bring peace of mind.

And even if you are not considering having a family yet and are still single, you still have others who depend on you. If something unexpected were to happen to you, your death would have a heavy financial effect on your family members. Life insurance could help to reduce this impact.

Also, as a young adult you likely have accumulated student loans that would need to be paid off after your death. A co-signor is legally responsible for the debt even if you pass on.

When we think of life insurance policies, we usually think we should wait until we are older to consider such an option. Yet the truth is that it is never too early to plan for the future and the unforeseen. The younger and healthier you are, the more attractive the life insurance rates.

To learn more about Boston MA life insurance, visit http://www.lifeinsurance20.com/.