Article  Life Insurance Quotes: Asking the Right Questions Life insurance quotes can be confusing, particularly if you’re comparing several different policies in order to get the best rate possible. Not every life insurance policy gives you the same type of coverage. Many have exclusions or restrictions. You may get two price quotes for the same amount of coverage and wonder why the premium prices are so different. The answer may be that one provides better coverage than the other or that you fall into a higher risk group with one than the other. To make sure you’re looking at insurance quotes properly, reflect on what you’re really getting and know what questions to ask.   Exclusions and restrictions can vary a great deal from one insurance policy to another. Don’t assume your life insurance policy will pay out regardless of how you die. Most will cover many types of accident or illness, but some have more exclusions than others. Common exclusions include accidental death when you have been under the influence of illegal drugs or alcohol or illnesses caused by negligence. Some companies also exclude any claims that are filed as the result of suicide. Restrictions may limit how much of a payout you get after a certain age or if the claim isn’t filed within a specific time frame.   Be sure to find out how long your coverage will continue at the price quoted. Life insurance quotes generally give you what the price will be for one year’s coverage, but you need to know how long that price will last. Will your rates go up every year? Every few years? What affects the change in rates? Be sure you understand whether you’re getting a variable or fixed premium quote and how often your rates could change. You should be able to lock in a premium for at least one year at a time. Some companies will lock the premium for as long as three years so you can budget more easily for your life insurance.   Ask about the company’s restrictions on renewal. Ask if you will continue to be covered by your life insurance no matter how long you live. Will you ever be turned down or rejected when a policy is up for renewal? If this is a possibility, find out under what circumstances so you aren’t suddenly caught without life insurance at some point. You’ll want to be prepared so you can begin gathering alternative life insurance quotes when the time comes. Also be sure to find out what the rules are for renewing, such as whether you’ll need to have a physical exam or blood work done each time your life insurance policy needs to be renewed.   Risk groups are central to the cost of your life insurance premiums. If you’re concerned about the price of your life insurance premiums, it may be that you fall into one or more risk groups that drive up costs. Being overweight, a smoker, or having a condition such as diabetes are all risk factors that may adversely affect your insurance rates. If this is the case for you, be sure to find out how your potential insurer handles these risk factors. For instance, if you quit smoking and are a non-smoker for at least a year, can you get a new life insurance quote at a lower rate? Once you’ve gathered several life insurance quotes and asked these questions, you should be able to easily choose the coverage that’s right for you. Category Health Author Anonymous Add To Favorites Print This Article Email Article To A Friend Post Comments   Rate This Article (0) 1 - Poor2345 - Good678910 - Excellent Added On 02-19-2010