YOU ASK:

Shopping for a universal life insurance policy – how do I find the best universal life insurance rates?

WE ANSWER:

The rule of thumb when looking for an inexpensive life insurance policy is to shop around. In the case of universal life insurance, the premium rates and other expense can be high, especially when compared to term life insurance, but bear in mind that the investment aspect of a universal life insurance policy can bring you a lot of benefits in the long run.

Before even considering finding an insurance agent, you should try gathering information upfront on your own: the Internet offers a wide range of online tools for quick and anonymous comparison of life insurance quotes provided by hundreds of insurers. Comparison-shopping is the key to finding the best universal life insurance rates.

How to Comparison-Shop

Only compare plans that are similar.
Don't look for a particular insurance company, shop for a policy instead.
Try a few different online resources and always rely on the one which asks you for more information about your lifestyle and habits: the more detailed questions the website asks you, the more accurate the rates are likely to be. Factors like age, sex, geographical position, smoking, medical history, hobbies and medical record affect the universal life insurance rates so the more information the quote site extracts upfront, the better prepared you will be.
For the same reason as above, you should try to answer the questions honestly and provide as much information as you can. You cannot hide anything from the insurer so if you would like to know the rates you will be offered, you'd better check again how much you weigh, and what you medical history, blood pressure and cholesterol level is.
Check the insurers' financial strength ratings, bearing in mind that the companies that are deemed most reliable, usually offer the best universal life insurance rates.

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