How to Get a Term Life Insurance Quote

1. The best time to buy life insurance is right now.

It’s always a good idea to buy life insurance as early as you can, because it becomes more expensive each year as you age. In fact, some insurance companies increase their rates six months before your actual birthday, because in the eyes of insurance companies, a younger person is less of a risk to insure than an older person. For the same reason, life insurance prices will always be lower for healthier people.

Waiting to buy a life insurance policy could come at a high cost. As individuals grow older, they are more likely to develop health problems or medical conditions, making it harder to get insured or increase your risk of having to pay a higher premium.

2. Determine how much coverage you need and for how long.

When you’re ready to buy term life insurance, you’ll have to decide on a term length, whether it’s 10, 15, 20, 25 or 30 years. Newlyweds, new homeowners and young families may choose a longer policy—such as 30 years—while families with older children, or those who are closer to retirement age, might choose shorter lengths.

One easy way to help you determine how much life insurance you might need is to consider the length of your longest financial obligation. This will ensure your loved ones have the financial support they need to make any obligated payments if you were unable to do so.

If you’re still unsure how much coverage might be right for you, visit our life insurance calculator to help you get started.

3. Prepare the necessary information.

Life insurance companies want to know how expensive you’ll be to insure, and the quotes you receive will be based on the information you provide. You’ll likely be asked to answer questions on the following topics:

Gender
Age
General health
Habits, such as smoking and drinking
Location and zip code

• Gender
• Age
• General health
• Habits, such as smoking and drinking
• Location and zip code

However, some life insurance quote calculators may ask for additional information to help determine your “risk profile.” Additional information requested could include:

Height and weight
Current medication(s)
Family health history
Driving history
Hobbies or high-risk activities

• Height and weight
• Current medication(s)
• Family health history
• Driving history
• Hobbies or high-risk activities

Having this information can help ensure the process of obtaining a term life insurance quote goes smoothly.

4. Compare quotes to find the best deal.

It may seem like the simplest option is to go with a familiar insurance provider for your new term life insurance policy, but there’s a strong possibility you could be missing out on a policy with greater coverage or a better price if you don’t shop around.

Shopping around can seem intimidating and time consuming, but we can help make it easy. We’ll get to know your needs and provide you with multiple quotes from some of the most trusted insurance companies in just minutes.

5. Apply for your term life insurance policy.

The final part of the process is submitting your application for your term life insurance policy. In most cases, you’ll also be asked to complete a medical exam before you’re officially approved for coverage. The exam is typically pretty easy, lasting less than 30 minutes, and can take place wherever is most convenient for you. Once your policy is in effect, all you have to do is continue to pay your premiums.

Get a term life insurance quote from SelectQuote.

At SelectQuote, we can help you compare quotes, navigate the application process and answer any questions you might have about life insurance. We have been helping families find life insurance coverage for more than 35 years and we look forward to helping you, too.