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Why Should You Get A Quote For Term Insurance Plan?

Life is unpredictable. If you are someone who is providing for dependents such as your spouse and children and even your parents, you can only imagine how your absence would impact their lives. Which is why term insurance is necessary to safeguard your family’s future, should life deal a hard blow to you anytime. Most people hesitate to buy term insurance, thinking they might not get an affordable term insurance quote or because they want to compare plans and choose the one that is best for them.

Factors On Which Term Insurance Quotes Depend

A quote will depend on several factors- some that you can control by incorporating lifestyle changes and some that are not under your control, but still will be crucial to determine your premium amount. Let us take a look at some of them:

  • Gender

On an average, the life expectancy of women is higher as compared to men and so they pose a lesser risk of claim. Hence, if you are a woman applying for term insurance, you might get a cheaper quote as compared to a man fulfilling similar conditions.

  • Age

This is one of the most important factors since the risk of contracting diseases increase as you age. If you buy insurance early in life, you also pay more premiums and choose a longer policy term, thus bringing down the price of your premiums considerably. On the other hand, if you take the same term plan say 20 years later, you pay lesser premiums for a relatively shorter policy term and hence do not get the benefit of an affordable term insurance quote.

Must read: How Life Insurance Companies Determine Insurance Premium Quotes?    

  • Policy Term

The example above, not only illustrates buying term insurance at a younger age, but also choosing a longer policy term. Long term policies turn out to be cheaper than short term ones, and offer protection for a longer time.

  • Smoking And Drinking

You can say goodbye to your chances of getting a cheaper quote if you either smoke or drink. These lifestyle choices increase your risk of contracting diseases and can also impact your premium rates.

  • Medical Fitness

Since you have to go through a medical check-up prior to acceptance of your proposal form, you might end up paying a higher premium for an adverse health condition, so the more healthy life choices you make, the cheaper the term insurance quote you get.

  • Occupation

If you are an adventure sports enthusiast, or work in any other industry with an increased risk to your life, you might end up paying more premium than someone in a 9 to 5 office job where the work environment is relatively safe.


Life insurance quotes are calculated on an individual basis, and hence are different for different individuals. As explained above, you cannot control certain factors such as age and occupation. However, you can make better lifestyle choices such as staying fit and being a teetotaller, as well choose a longer policy term to benefit from an affordable quote.

Also read: How Do I Get Best Life Insurance Quotes for Senior Citizens?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.    

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