Life Insurance Quotes

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Compare Life Insurance Quotes Online

Ensure financial security for your family with an affordable life insurance policy. With our FREE quoting tool, we get the best life insurance rates from over 20 of the best life insurance companies, including Prudential, Pacific Life, Lincoln Financial, Securian Financial, Midland National, Nationwide, and Transamerica. We aim to help you find the best coverage at the lowest prices.

We’re A Life Insurance Agency

The Annuity Expert is an independent insurance agency that helps with personalized insurance solutions. Our life insurance team offers unbiased advice and many options to meet client needs. Because we are not tied to any specific insurance companies, we can focus on what’s best for our clients. We offer many types of life insurance for different life stages and financial goals. We offer a free unique service that is flexible and focused on clients. If you want personalized help and products, it’s great for buying life insurance.

How Does Buying Life Insurance Work

  1. Assessment of Needs: Consider income, debts, dependents, and lifestyle to determine the coverage you need.
  2. Choose a Policy Type: You can choose between term life insurance and permanent life insurance. Term life insurance provides coverage for a specific period. Permanent life insurance covers an entire lifetime.
  3. Comparison Shop: Compare quotes from multiple insurers to find the best rates and coverage.
  4. Application Process: Complete an application, which may include health questions and a medical exam.
  5. Policy Review and Approval: The insurer reviews your application and decides on approval and final premiums.

How To Get Life Insurance

Life insurance can be obtained by following a few simple steps.

  1. Research: Understand different policy types and what suits your needs.
  2. Get Quotes: Contact insurance agents or use online tools to get quotes.
  3. Application: Fill out an application, providing detailed personal and health information.
  4. Medical Exam: Some policies require a medical exam to assess risk.
  5. Policy Issuance: Once approved, review and sign the policy.

Following these steps will help individuals acquire life insurance.

What Are The Different Types Of Life Insurance?

  • Term life insurance plans provide coverage for a specific period. It pays a death benefit if the insured person dies during this time. It’s a popular choice for those seeking cost-effective, temporary coverage.
  • Whole Life Insurance provides coverage for your whole life. It guarantees a death benefit and grows in cash value. It’s apt for those seeking lifelong coverage and a savings component.
  • Universal life insurance coverage is a kind of permanent life insurance. You can choose how much to pay for premiums, death benefits, and growing savings.
  • Final Expense Insurance assists with funeral costs and other final expenses. It provides support to the family during a challenging period.
  • Variable Life insurance is a permanent life insurance with an investment component. The cash value is invested in various accounts, with the potential for higher returns. It is best for those seeking an investment component in their life insurance.
  • Variable universal life insurance combines variable and universal life insurance. It also offers investment options with flexible premiums.
  • Index universal life insurance is similar to universal life but it is tied to market index performance.
  • Credit Life Insurance and Mortgage Life Insurance covers specific debts, ensuring they are not left to surviving family members.
  • Basic life insurance is often the foundation of a life insurance portfolio, providing essential coverage to assist families in maintaining their living standards during an individual’s death. Employers often provide it as part of a benefits package.
  • Guaranteed Issue Life Insurance is often a choice for those with serious health issues, guaranteed issue life insurance offers coverage without a medical exam, albeit with higher premiums.

What Does Life Insurance Cover?

Life insurance policies can cover a wide range of scenarios. Here’s a comprehensive list of what they typically include:

Death Benefits

  • Natural Death: Coverage includes death due to natural causes like aging or illness.
  • Accidental Death: Unforeseen accidents resulting in death are covered.
  • Terminal Illness: Many policies offer payouts if the insured is diagnosed with a terminal illness.

Additional Coverage Options


  • Suicide Clause: Usually, suicide within the first two years of policy is not covered.
  • Fraud: Death due to fraudulent activities may not be covered.
  • Criminal Activity: Deaths during the commission of a crime are typically excluded.
  • Drug or Alcohol Abuse: Deaths due to abuse of substances may not be covered.

Policy Types and Their Coverages

  1. Term Life Insurance: Covers death during a specified term.
  2. Whole Life Insurance: Covers death at any age, plus cash value accumulation.
  3. Universal Life Insurance: Flexible premiums with death coverage and cash value.
  4. Variable Life Insurance: Investment options with death benefit and cash value.

Riders and Special Provisions

  • Waiver of Premium: Waives premium payments if the insured becomes disabled.
  • Guaranteed Insurability: This lets the insured buy additional coverage without medical exams.
  • Child Rider: Provides coverage for the insured’s children.

Tax Benefits

  • Death Benefit Payouts: Generally tax-free to beneficiaries.
  • Cash Value Growth: Tax-deferred in policies like whole life and universal life.

Miscellaneous Coverage

  • Funeral Expenses: Some policies include or offer riders for funeral costs.
  • Charitable Contributions: Option to allocate a portion of the benefit to charity.
Life Insurance Policy

How To Choose Life Insurance

  1. Determine Coverage Needs: Assess financial responsibilities and the needs of dependents.
  2. Policy Type Selection: Choose life insurance that best fits your needs and financial situation. Options include term, whole, universal, or variable policies.
  3. Affordability: Consider your budget for premium payments.
  4. Company Reputation: Research the insurer’s financial stability and customer service record.

How to Compare Life Insurance

  1. Policy Comparison: Look at policy features, benefits, exclusions, and riders.
  2. Premium Comparison: Compare costs for similar coverage levels. This is essential to getting cheap life insurance.
  3. Financial Strength of Insurer: Check the insurer’s financial stability ratings.
  4. Customer Reviews: Read customer feedback and complaint records.

Life Insurance Comparison

Policy TypeCoverage DurationCash ValuePremium TypeIdeal For
Term LifeFixed (e.g., 20 years)NoFixedThose needing affordable, temporary coverage
Whole LifeLifetimeYesFixedLong-term financial planning, cash value growth
Universal LifeFlexibleYesAdjustableThose seeking flexibility in premiums and coverage
Life Insurance Quotes

Understanding Life Insurance Health Ratings

Life insurance health ratings are evaluations used by insurance companies to determine the risk level of insuring an individual. These ratings affect the premium rate you pay for life insurance. The healthier you are, the lower your premiums tend to be.

How Are Health Ratings Determined?

Insurance companies assess a variety of factors, including:

  1. Medical History: Past and current health conditions.
  2. Family Health HistoryHealth issues in immediate family members.
  3. Lifestyle Choices: Smoking, alcohol use, and high-risk hobbies.
  4. Physical Factors: Weight, blood pressure, and cholesterol levels.
  5. Age and Gender: Older individuals and certain genders may have higher risks for certain conditions.

Common Health Ratings

  1. Preferred Plus: Excellent health and lifestyle.
  2. Preferred: Very good health with minimal health issues.
  3. Standard Plus: Good health, perhaps with minor issues.
  4. Standard: Average health and lifestyle.
  5. Substandard: Major health issues or high-risk lifestyle.

How Much Does Life Insurance Cost?

  • Factors Affecting Cost: Age, health, lifestyle, policy type, coverage amount, and term length.
  • Average Costs: Can range from a few hundred to several thousand dollars per year, depending on these factors.
Age GroupGender20-Year Term Insurance for $500,000 (Preferred Non-Smoker)
30 yearsMale$24 – $35
40 yearsMale$35 – $50
50 yearsMale$85 – $105
60 yearsMale$250 – $300
30 yearsFemale$20 – $30
40 yearsFemale$30 – $35
50 yearsFemale$65 – $80
60 yearsFemale$185 – $275

Overpriced Life Insurance

The following life insurance companies overprice their life insurance. Why pay too much when you could either save money or buy twice the coverage?

Related ReadingThe best life insurance companies that we recommend

Actionable Tips From Life Insurance Specialists

We have gained unique knowledge and experience over many years, and we want to share it.

  • Life insurance companies vary in how they underwrite medical conditions. Some companies focus on diabetes, while others prefer heart disease. An insurance broker can help you find the best life insurance policy for your health conditions. Each company has its own rules.
  • Captive agents work for one insurance company and can only offer rates from that company. They cannot compare rates from different companies to find you the best quote.
  • If you need to take an insurance exam, scheduling it for the morning is best. Make sure to fast before the exam and drink plenty of water.
  • If a company has declined your application, it doesn’t mean all companies will. Choosing The Annuity Expert as your broker is helpful because we can search 50 companies for you.
  • If declined, there are alternative options available to pivot to. Burial Insurance, which is guaranteed, can assist in covering funeral expenses. If you want to leave money for your family, annuities with enhanced death benefits are a good option.


Understanding how life insurance works involves knowing how to buy, choose, and compare different policies and the costs involved. Comparing life insurance quotes is crucial when shopping for life insurance. To find the right life insurance, compare rates, medical guidelines, and policy types. Having the right life insurance provides peace of mind, ensuring your family’s well-being. The Annuity Expert can help streamline this process at no charge to you.

Contact us today on how to buy life insurance and for a free quote.

Need Help Buying Life Insurance?

Since 2009, The Annuity Expert has been an independent insurance agency. Our national producer number is 15524738. We specialize in helping people who have health conditions find life insurance. Our experts will provide free life insurance advice to help increase your chances of getting coverage. They will guide you through the process.

Just a heads up—applying for life insurance without a medical exam is risky. If you’re declined, you might have to wait two years before you can apply again.

Impaired Risk Life Insurance
Have You Been Declined Life Insurance Coverage Before?

Life Insurance Frequently Asked Questions

What is life insurance?

Life insurance is a policy that provides financial protection to the insured’s beneficiaries upon their death. Depending on the type of policy, it pays out a lump sum or regular payments. Life insurance can help cover funeral expenses and outstanding debt and provide for loved ones’ future financial needs.

How does life insurance work?

Life insurance provides a financial payout to the beneficiary upon the policyholder’s death. The policyholder pays regular premiums to the insurance company, who then guarantees the payout in the event of death. There are various types of life insurance, such as term and whole life, each with different benefits and coverage options.

How does life insurance work when you die?

After the insured passes away, the beneficiaries file a claim with the insurance company, providing necessary documentation such as a death certificate and policy details. The company then assesses the claim and pays out the death benefit accordingly.

What are the benefits of life insurance?

Life insurance provides financial protection to the insured’s loved ones in the event of their death. It offers several benefits, including providing a source of income replacement, paying off debts, covering funeral expenses, and leaving a legacy for beneficiaries. Additionally, some policies can accumulate cash value over time, which can be borrowed against or used for other financial needs.

Do I need life insurance?

If you have people depending on you financially, it’s smart to buy life insurance. This will safeguard your loved ones’ financial future.

How much life insurance do I need?

Determining how much life insurance one needs depends on various factors such as income, family size, debts, and future obligations. Experts suggest coverage worth 10-15 times an individual’s annual income.

How long do I need life insurance?

Most financial experts recommend having life insurance coverage for as long as you have financial dependents or outstanding debts. The duration of needing life insurance varies depending on individual circumstances.

At what age should you get life insurance?

It’s a good idea to buy life insurance when you’re young. This way, you can get lower premiums and plan for the future.

What do I need to consider before buying life insurance?

Before you decide, think about what your dependents need and your budget.

Why should I buy my own life insurance policy?

When you buy your own policy, you have control over your financial security. You can customize the coverage to match your needs and circumstances.

Are there any medical exams required to purchase a life insurance policy?

Certain policies may require a medical exam to check your health and set your premium. Other policies don’t need an exam but might have higher premiums.

What’s the maximum age limit for life insurance?

The maximum age limit for obtaining life insurance is often around 85 years old.

I’m 40, married, with no kids. We live in a two-income household. My husband and I want a policy that would cover us if something were to happen to one of us. Is term life recommended, or should we opt for whole life? 

This is an ideal situation for whole life.  You can use the funds to purchase a policy that will accumulate a cash value and growth over time, and by the time you reach retirement, should have sufficient funds to help pay for things you may want to do while in retirement, such as travel or leisure activities, and if needed use the cash value that is built up for medical expenses (such as Long Term Care) if necessary.

How much is life insurance for a 20-year-old?

The cost of life insurance for a 20-year-old depends on the type of policy, coverage amount, and health status. For a healthy 20-year-old, a 20-year term life policy with $500,000 in coverage may cost between $15 and $25 per month. Whole life insurance premiums will be higher, potentially ranging from $150 to $250 per month for the same coverage.

How much does $1 million life insurance cost?

The cost of a $1 million life insurance policy depends on factors such as policy type, age, health, and lifestyle. For a healthy individual in their 30s, a 20-year term life policy with $1 million in coverage may cost between $40 and $60 per month. Whole life insurance premiums will be higher, potentially ranging from $500 to $800 per month for the same coverage.

How much does $500,000 worth of life insurance cost?

The cost of a $500,000 life insurance policy depends on factors like policy type, age, health, and lifestyle. For a healthy individual in their 30s, a 20-year term life policy with $500,000 in coverage may cost between $20 and $30 per month. Whole life insurance premiums will be higher, potentially ranging from $250 to $400 per month for the same coverage.

What is the age limit for life insurance?

Insurance companies usually offer coverage to applicants over age 85, but certain companies may limit coverage to 80 or 90. In addition, term life insurance policies are available in different lengths, with most companies offering a maximum of 30 years, while others may offer policies for up to 35 or 40 years.

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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