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Who should I contact to get term life insurance with lower monthly premiums?

Ok. Here's my situation. I recently submitted a request for term life and after sorting through the number of agents that called my house, I decided to go with an agent that works for one of there very strong A+ rated companies but also runs his own financial firm. He came to my house and I answered questions and took blood tests,etc. I received a letter from the insurance company that I had been accepted as standard+ due to information from my medical records . I guess something they found didn't meet their underwriting requirements. By being in the standard+ class the monthly premiums are about $30-40 more a month. I am a 32 year old in good health and weight. I am however on an anti-anxiety drug for panic attacks which I've had since high school. My agent tells me he's going to "shop the market"to see if any other companies will take me on in a better class. But he tells me he hasn't gotten any calls. Should I contact a company or independent broker and start all over?

Public Comments

1. I would contact another independent broker. $30-$40 seems high for term life and someone in your age bracket. I am obese and pay less than that for whole life insurance. I would also ask if something showed up in your blood work. If your blood sugar was a little high you could work on that and then when you went again for the blood work it would be improved. Also if your work provides life insurance it is usually considerably cheaper. Different life insurance companies will put you into a different category. The one that I finally went with put me in one of the higher categories despite my weight, but my sister would probably been in a lower category because she smokes.
2. You can contact an independent agent in your area - look to the guy that does your house/car insurance, and if he can't do it, ask him for a referral. It shouldn't be hard for an agent to get 10 quotes from A rated carriers. But you're NOT going to get preferred rates, most likely.
3. My experience with term life is that the "initial" or "preliminary" quotes you get are always the best possible preferred rate. Its only after the medical screening that you find out the real offer. So an extra $30-$40 a month is not unusual. All the companies are like that.
4. You do have another option. You can use a life isnurance quote provider online who specializes in finding life insurance for people on medication. Also, one who is known for providing accurate life insurance quotes the first time around. Efinancial offers both. They have been online offering life insurance quotes for a number of years and they give you accurate rate quotes. They have a network of over 70 life insurance companies and have relationships with them to try to get you the best deal. You just fill out one form and they give you up to 12 Instant Quotes for term life insurance from top-rated life insurance companies. To get your free, accurate quotes, visit https://www.efinancial.com/smartquoteefc.aspx?source=389-707 There's no risk and no obligation. Remember, it's your choice. If you don't feel comfortable with the offers from the agent you have used up to now, you can test the market some more. Don't hesitate, because your health may change, the rates may go up based on your age, or something else may happen. I hope that helps! Best of luck to you and have a Happy New year!
5. First thing you need to do is have your agent call the insurance company to have them send a copy of your paramedical exam to determine exactly why the insurance company is "uprating" your policy. Due to privacy regulations they will not tell your agent and very likely will only send the report to your doctor. Once you know what the specific issue is you are in a much better position to "shop around" because you will be able to tell your agent (or another agent) "I have this condition and am taking these medications will your company give me a preferred rating". Don't get your hopes up though. Depending upon the health issue you are dealing with most company underwriters will not be offering you preferred rates.