Why Should You Listen to Us?
NoExam.com has been in business since 2013. As a small business, we have helped 10,000 families purchase life insurance. We have over 1,000 verified 3rd party reviews and maintain a score of 4.8 out of 5. Our philosophy is
to go above and beyond without any expectation for something in return.
How Are Life Insurance Rates Calculated?
Rates are calculated by factoring in an applicant’s age, gender, height, weight, and overall health.
The rate charts on this page represent the starting point. Age, gender, height, and weight are used to determine the rate class. Rate classes are typically labeled as:
- Preferred Plus
After using the quote calculator listed above, when an acceptable quote is offered, users can click "apply" to begin their application. Once the application begins, the applicant will need to answer some health questions to determine health classification.
These questions involve family history and any current or past medical conditions. Having a medical condition like high blood pressure can move you to the next health class. A family history of heart disease or cancer before the age
of 60 can also affect an applicant’s class.
Term Life Insurance Calculator
Use the term coverage calculator to determine how much coverage to get. A good rule of thumb is to have at least seven to 10 times the annual income of the household’s main financial provider in life insurance coverage.
The answer to the question of how much coverage varies and is based on many factors. When determining the amount of coverage, consider the size of the applicant’s family, as well as their future needs, such as college tuition or wedding expenses. Also
to be considered are any debts, such as a mortgage. Adding all these expenses up will give an idea of how much life insurance that family will need. It's not uncommon to need a $1,000,000 life insurance policy.
Choosing a Life Insurance Term Length
The right term length is one that provides coverage while it is needed most. A 30-year term will provide the best value but may not be the right option, given the situation.
When choosing a term length, consider your age and insurance needs. A 30-year policy term makes more sense if it is affordable. This is because the older an applicant gets, the more expensive a life insurance policy is. A 30-year term
policy at age 40 is cheaper than a 20-year term policy at age 50. Most importantly, the policy must meet the needs of the insured and be affordable.
Whole life insurance, on the other hand, specifically its cash value component, is confusing to many people. It is also more expensive, which is why we almost always recommend term life insurance.