How Flexible Are Life Insurance Quotes. Can I Negotiate With Company For A Better Rate.?
Posted June 29, 2009 – 4:42 am in: structured settlements FAQI got a quote for my family and me for life insurance (20 years/400K each). I would like to negotiate a better rate with the broker (assuming same coverage).Can it be done, or are the rates fixed, is there room to negotiate. we did the blood work and were offered standard rates.
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10 Comments
Your rate can not be negotiated when the underwriting is done. If you don’t like your rate, you can refuse to accept the policy within 30 days and there will be a refund of premiums.
What you can negotiate is going through different companies. Shop around. Make sure you check the financial strength ratings from AM Best!
Try this sitehttp://free-best-life-insures-comparator…
Here you can get quotes from different life insurance companies in your area, its the best way to find an affordable life insurance with a reliable company.
Life insurance rates cannot be bargained down. You either fit within a certain premium bracket or not. That is why it is imperative that you shop around before settling on a policy. Your local agent may be the obvious choice but be warned that most local agents are affiliated some insurance companies. This could result in a biased opinion and unnecessary hard sell of certain products. Nowadays, the best option to look for life insurance would be online. There are a number of insurance service providers can provide you with a staggering choice of different policies for different requirement. Within minutes you could find an unbiased affordable insurance option for your age, health, sex and lifestyle.
If your health is poor or you qualify as a specialized case (you have a high risk job, are a smoker, etc.), there are website that deal effectively in such situations. There are well versed with the underwriting process involved in qualifying for an insurance policy and can help you locate the insurance company to suit your needs. When purchasing your insurance online, the process just gets that much simpler and your decision is based on in-depth research and expert recommendations.
Aquino
Rates are not negotiable. They are set and approved by the Department of Insurance. Broker fees may be negotiable so you can ask about that.
And, why were the rates standard rates and not preferred rates? You need to ask about that too. Kids do not need $400K of life insurance. Is that what you did? You may be an exception to the rule but it sounds like this agent is making big money on you.
Your kids could be covered under your policy as a “Children’s Rider”. It is just enough to cover for a funeral. You need to talk to your insurance agent or find another one.
Since I do not know you these are just suggestions. Having a good agent is invaluable. An good agent gives you what you really need and does not rip you off. And, like I said I don’t know you so I can not say what is right for you.
There isn’t any wiggle room.
The way to negotiate a better rate, is to get more quotes with different companies. There’s a WIDE range of quotes – but you have to get them with different companies.
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lifeinsurance.awardspace.info – try this one. I have their insurance and, as remember, they can provide such a service.
The insurer makes the offer pretty much on a take-it-or-leave-it basis. The broker can’t change that.
Nope…if you want 10% off then you need to buy 10% less. The rate is the rate.
Try this sitehttp://linsurance.notlong.com
here you can get quotes from different companies in your area.