- 1). Make a list of insurance companies you're interested in purchasing term life insurance from by visiting a website such as Terms4Sale.com, which is a term life comparison site (See Resources section). Request an online quote from each of the companies on your list. When requesting quotes, many companies will require you to reveal health related information such as your weight, whether or not you're a smoker, and your family's health history.
- 2). Decide on the amount of coverage you will need. You must account for many factors when making this decision, such as how many people depend on you financially, what your yearly income is, etc. Some companies calculate the lowest amount of coverage you will need by multiplying your yearly income by fifteen.
- 3). Utilize the services of an online agent by contacting them via their company website. There are websites where you can compare prices and buy term life insurance in one shot, but your best bet at getting a good deal on the coverage you need is working with an agent.
- 4). Find out if you qualify for preferred plus. Life insurance rates are largely dependent on your health underwriting class, which the insurance company will determine based on information you give. You may qualify for preferred plus with one company but not with another. An agent will which companies are picky about certain issues, which means they can make sure they qualify you for the best class with the right company.
- 5). Work with the online agent to fill out all of the necessary paperwork for the term life insurance coverage you've chosen. Most of this paperwork can be done via email. The requirements may also include getting a physical and having the results sent to the agent in writing.
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