How can I qualify for the best whole life insurance rates?


In order to be eligible for a company's best whole life insurance rates, you need to meet certain, very strict, requirements. Being healthy and having an excellent driving record are just two of the major requirements, but meeting them is not enough to make you eligible for the best whole life insurance rates. Nowadays, the risk assessment criteria have become stricter and also more complex.

Whole Life Insurance Rates - Characteristics

Don't forget that whole life insurance rates are usually the highest compared to other types of life insurance, sometimes prohibitively high, especially for young people.

Furthermore, premiums are level and are not subject to change, which makes it even more difficult for one to qualify for the best whole life insurance rates. Once you have signed the contract and purchased the policy, there is no turning back, unless of course you decide to let the policy lapse, or surrender it for its cash value. Nor are you allowed to lower the premiums, even if you improve your lifestyle, lose weight or stop smoking.

However, whole life insurance provides 100-guarantee life-long protection which makes it the best choice for those needing permanent coverage.

"Bargain"-Quote Standards

To qualify for a company's whole life insurance lowest premium rates, you need to meet certain requirements that may vary from company to company but are, for the most part, similar. They are applied in the underwriting process to determine your mortality cost, i.e. your chances of dying at the moment. Insurers use separate risk classes to classify women and men, with the former paying slightly less because of a more favorable life expectancy index.

Here are the general requirements for the lowest life insurance rates:

  • No history of a terminal or life-threatening illness in any parent or sibling before the age of 60;
  • No use of nicotine in the past five years;
  • No evidence of drug or alcohol abuse;
  • Cholesterol levels of 210 or lower;
  • Blood pressure within the norm of 140/85;
  • Height-weight ratio within the acceptable norm (different for men and women, and usually specified by the insurer in the form of tables);
  • Spotless driving record - no DUI or moving violations in the past five years;
  • No risky activities and hobbies in the past three years (including scuba-diving, paragliding, bungee jumping, and other extreme sports);
  • No travel or plans to travel in underdeveloped or politically unstable countries.
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