Most companies provide temporary and conditional life insurance coverage at the completion of the medical exam provided a premium payment is made when the application is mailed. This coverage is subject to the conditions outlined in the conditional receipt.

NOTE: If you are replacing an existing policy, it is very important to continue coverage until a new policy is approved at a satisfactory premium.

Again, all reputable life insurance companies are rated by independent financial rating services such as A. M. Best, Standard & Poor's, Fitch, and Moody's. Insurance companies are evaluated on their overall financial strength and liquidity, and are assigned a grade such as A, A+, B, or C. Each rating service maintains their own specified rating system.

BuyInsurance.com carefully monitors the financial strength of each company we quote and represent. Each company we quote is required to have a rating of A (excellent), A+, or A++ (superior) by A. M. Best, the nation's leading independent evaluator of insurance companies since 1899.

You may want to consider having coverage on your spouse even if they are not currently employed. In addition to the emotional burden, the financial pressure on a family due to the premature death of a spouse can be significant. It may be necessary to cover various expenses associated with the loss of a spouse such as medical or burial expenses, or counseling. The surviving spouse will often take time off from work or make other career adjustments to deal with these issues, or to spend more time with children or other family members during this difficult period.

Life insurance coverage for children is available to cover final expenses and also can be provided to guarantee insurability for the child’s future.
You can get a life insurance quote and apply online for your spouse or dependents at the same time you get a quote for yourself. We will ask you during the application process if you desire coverage for your spouse.

Each company uses their own criteria to determine which health class you belong to and your resulting life insurance rates. In fact, it is entirely possible for the same person's health class to rate as "Standard" with one company and "Preferred" with another! Also, some factors such as smoking can have a direct impact on determining your health class. Here are some health class rating guidelines for non-smokers.

In order to receive "Preferred" rates, you must be in excellent overall health and lead a healthy lifestyle. Each company determines limits on weight to height, cholesterol, blood pressure, and you must not have any significant personal health issues. Family health history is also a factor used in qualifying for low preferred rates. You cannot use tobacco of any type. You must not have a history of alcohol abuse or drug use. You may not be involved in hazardous activities.

Because there are so many factors, determining your own health class can be complicated but we make it simple. We constantly update information for dozens of leading carriers to provide you with the most accurate health class information possible. Please note that all insurance carriers require a simple medical examination prior to determining your actual health class and resulting rate. This determination may differ from the initial health class or rates you were quoted during the application process.

It's a fact; due to the increased health risks, life insurance rates for smokers are higher than those for non-smokers. To qualify for non-smoker rates, most companies require that you be a non-smoker for at least one year. Some companies will even offer a special rate to healthy smokers who hope to stop smoking within one to four years. The individual agrees to re-qualification at the end of the period to maintain these low rates.

In many cases, life insurance companies view other tobacco products (cigars, pipes, chewing tobacco) in the same rating as cigarettes. However, several companies allow pipe, cigar, and chewers to qualify as non-smokers.

Each life insurance policy, if renewable, has a guaranteed maximum renewal premium, which is explained and illustrated in the policy. The amount is the most you will have to pay to renew your life insurance coverage. After your initial guarantee period ends, you can reapply for new coverage with the same or a different company. If you qualify, you can begin a new period of guaranteed rates. This process is called "re-entry" if you qualify with the same insurance company.

Since your future good health is not guaranteed, re-entry is not guaranteed. In the event you cannot qualify for a new, competitively rated policy, many policies carry a conversion privilege. This feature allows you to convert your existing term policy to permanent life insurance coverage (a whole life or universal life policy). Conversion periods and terms vary from company to company.