Flourtown, PA -- (ReleaseWire) -- 11/30/2016 --Life insurance is a numbers game, as anyone who has ever tried to purchase insurance with a preexisting condition can attest. Insurance companies want to attract the healthiest people, who are the least likely to actually need the insurance. Those who are statistically more likely to need the policy are often hit with surcharges and extra fees to cover the increased risk. In some cases, those who need life insurance the most are denied altogether. However, using an insurance agent who understands the game can save customers thousands of dollars. From Gordon Conwell III of American Term, here is what all life insurance purchasers must know.

Common Issues with Life Insurance Quotes

Captive Agents: Those who apply to a specific life insurance company will receive only that company's rates. Their agents are not allowed to quote rates from other companies, even if they are significantly less expensive.

Online Quotes: Shoppers who are aware of the issues with captive agents often turn to the large online quote sites. The problem with these is that they are too generalized. They ask broad questions about health history rather than gathering the specific information required for an accurate health rating. They also partner with only a few life insurance companies, excluding others that might have lower rates.

Complex Classification Systems: Most life insurance companies have a stunning 11 to 19 separate rating categories. Shifting by as little as one category can have a major impact on premiums, but many independent agents are unaware of how to properly shop their customers to receive the best possible rates.

Misleading Information: In some cases, prospective insurance purchasers provide misleading information to their agents. When the deception is discovered, the insurance company rightly assigns a poorer rating to that prospect. However, deception can also come from agents who, in their quest to make a sale, over-promise and then under-deliver.

How to Get the Best Rates

It is true that those with preexisting health conditions will pay more overall for life insurance than those with no significant health history. It is absolutely essential for shoppers to be entirely truthful with their agents, and for agents to be entirely truthful with insurance companies.

However, agents also need to have a deep and nuanced understanding of each insurer's ratings criteria, and provide all of the information needed to secure the best rates for which the insured is eligible. They must also be willing to thoroughly shop around, as different companies may assign different classifications to the same preexisting conditions, depending on individual circumstances.

Re-shopping is a tremendously valuable tool in helping shoppers to secure the best possible life insurance rates. To re-shop, customers should accept the first policy that was offered, which will typically provide a copy of the life insurance medical questionnaire. Customers are also entitled to a free copy of the lab results from their insurance physical exam. With those two items in hand, an independent agent can then submit the customer's information to multiple insurance companies and negotiate for the best rates. In the insurance game, playing one company against another can often result in better rates.

About American Term Life Insurance
Family owned and operated, American Term is dedicated to getting each customer the right life insurance at the right price, even if they are considered high risk. Those who have been quoted a high price or even been told that they are uninsurable are invited to click here and fill out this secure form or call us at 800-380-3533 to learn how re-shopping can help.