4 Tips To Get the Best Results & Prices on Life Insurance
Posted October 1, 2022
As advisors, we are trusted with our client’s livelihoods, businesses, and life savings and help them plan for their financial future. As we have worked closely with our clients over the years, many recurring themes come up when creating a retirement plan or estate plan, and that is that everyone wants their loved ones to be well taken care of.
For some, this means creating a clear estate plan; for others, this is creating a business exit plan or trust, but for some, this looks like life insurance.
Life insurance helps you to look out for your loved ones even after you pass away, as it can help prevent debt by covering medical bills, funeral expenses, loss of income, and other costs of living. As your family is dealing with your loss, the financial security and stability that life insurance brings can be a welcome reprieve amid the storm.
If you are looking into life insurance, look at these four steps to get the best results and price on your life insurance policy. A good life insurance rating could be a difference in tens of thousands of dollars over the policy’s lifetime.
How to get the best results (and price) on life insurance.
1. Get Started Early
Before being approved for your life insurance policy, the insurance company will need to know about your medical history. They will likely request records from your doctor’s office and could require a paramedical exam. This paramedical exam typically records your height, weight, and blood pressure. The examiner will also collect blood and urine samples during the test. If you have previous medical issues, you could be required to get further testing conducted like EKG and x-rays.
This all takes time, so you should plan for these activities. You should also try and schedule this appointment for earlier in the morning. By making this appointment for your required physical first thing in the morning, your blood work and other tests will typically be at peak performance first thing in the morning.
2. No Food or Drinks Allowed
Be sure to fast before the paramedical exam appointment, even though most companies don’t require you to do so. Your blood work will always look the best after fasting. If you eat before, you risk a meal interfering with your results and delivering not-so-great results. This is just one more reason to follow step #1 and make your physical appointment first thing in the morning!
3. Make Good Choices in the Kitchen
If you’ve been thinking about making better choices in the kitchen, like choosing whole foods, fruits and vegetables over that piece of cake- today is a good day to start. Before your physical, avoid foods with high sugars, carbs and heavy starches. These types of food can increase your glucose and make your blood work less than perfect.
4. Hit The Gym After
This one may seem counter intuitive, but don’t exercise the morning of your physical. Exercising before your physical can cause you to have elevated blood pressure or other abnormalities in your blood work.
It’s not an exact science, but you can rest assured that your life insurance policy will be a welcome relief to your family and loved ones after you have passed away. As your partner in prosperity, the team at Thayer at Financial can help you discuss how your life insurance policy will impact your financial plan.
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