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Requesting Online Texas Life Insurance Quote

The Internet has enabled consumers to manage the initial research phase of selecting a Texas life insurance policy.  Prior to the Internet, the life insurance consumer would contact a licensed agent, and the agent would present options from to the carriers represented by the agent.  With the advent of the Internet, the consumer can take charge of the life insurance research process and identify carriers, coverage options, and premiums.  What is more important is that the consumer has become a more active participant in the Texas life insurance buying process and can work with the licensed agent to identify the most suitable coverage.

In order to start the research process, consumers are asked to complete and submit online a form identifying carriers and coverage options.  The completed form is transmitted either to a carrier, which will assign as a contact either a licensed independent broker or a carrier employee, or directly to an independent licensed broker.  The form is submitted to whoever sponsored the Internet website that maintained the online form.

The online form will include a series of questions in order to begin the process of assigning a premium to the Texas life insurance that has been identified as suitable coverage.  The more information provided, the more accurate the premium quote can be.  However, life insurance applicants must understand that final premiums are determined by underwriting based on the submission of a complete application and possibly a paramed examination and/or medical records. 

The most basic information that is asked will involve gender, zip code, date of birth, height, weight and tobacco use.  Depending on the carrier, the tobacco question could have no time restriction or the use of tobacco could be restricted to the past 24, 36 or 60 months.  These six criteria can result in an initial quote to be used to compare the cost of one type of coverage to another type of coverage.

In order to increase the accuracy of the quote, some forms may include more detailed health questions.  Additional questions can be asked if the individual has been diagnosed with any significant health conditions.  These health conditions can include, but are not limited to, cancer, heart condition, diabetes, Alzheimerís disease, leukemia, Parkinsonís disease, HIV or AIDS.  Each of the additional responses provides more information which the carrier uses to quote a more accurate premium.  The responses may also result in a decision that life insurance is not available due to health history.

Initial quote forms can also request health history on family members, typically parents or siblings.  Questions related to family membersí health are based on scientific data that indicates a genetic predisposition to certain diseases such as cancer or heart.

The final category of questions involves lifestyle choices, which would include dangerous occupations or hobbies.  The risk from hazardous activities increases the exposure to a Texas life insurance carrier, and the premium must reflect the increased financial risk.  The form will probably request information pertaining to activities such as piloting private aircraft, operating motorcycles or off road equipment, scuba diving, parachuting, bungee jumping, hang gliding or spelunking.  Occupations that may result in a higher premium include helicopter pilots, race car drivers, oilfield workers, aerial riggers and structural steel workers.

Regardless of the question, it is paramount that accurate and truthful information be provided.  The accuracy of the quote is dependent on the accuracy and completeness of the information provided.  It is far better to disclose the information in the quote phase of the process than to have the information appear later in the formal application process.  Not only could the lack of accurate information result in a significant rate-up of the final premium, but also the insurance carrier can rescind coverage and not pay a claim if information that had a material impact on either assigning the final premium or approval was not disclosed.

Applicants many times do not take the initial premium quote seriously because they assume the quote is just an estimate.  The accuracy of the quote is going to be directly affected by the information provided.  The initial quote phase is a good opportunity to get personal and health information organized and allows the licensed agent to identify carriers that will provide the most favorable quote.


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