HelloMoney

After selecting my life insurance policy, and the application process, I finally got a call from my insurance agent this week.  The underwriting was complete and my policy was ready.  When I picked up the policy packet, I found that I qualified for the “Super Preferred” rate.  My agent said not many qualify for this rate, so I feel good about the fact that State Farm doesn’t believe I will likely die in the next 30 years.  Woo-hoo.

Here are a few things I learned through this process to get the best rate for the best life insurance policy:

• Select a Term Policy:  These will have the best rates, and the best bang for your bucks.
• Select a Good Insurance Company:  Search for a good rate with a company that is well established.
• Tell the Truth on the Application: Remember the insurance company can get access to all your past diagnoses and treatment, so don’t lie (it’s illegal).  However, if they ask you about the last 5 years, only go back 5 years- no longer.  So tell the truth but don’t tell them what they aren’t asking for…
• Be Prepared for the Exam:
  • Fast 8-10 hours before the exam
  • Stay away from caffeine 24 hours before the exam.  This can elevate your blood pressure.
  • Stay away from alcohol 72 hours before the exam.  This can mess up your liver enzymes.
  • Try to stay away from pain meds, sinus meds, and any herbal medicines 24 hours before the exam.
  • Do not exercise in the day of your exam (before the exam that is).  This can cause increased protein in your urine.
  • Try your best at a healthy diet the week before the exam.  Lowering the salt and excess fatty-foods will help.
  • Do NOT go on a crash diet before the exam, this will just throw your body out of whack.
  • If you get sick, even a small cold, cancel the exam and reschedule when you are 100% well.
  • Just like all those college exams, get a good night’s sleep before.
  • If you haven’t already- STOP smoking.  (This should be done 6 months - 1 year before the exam)

One final thought- if you’ve been thinking about going to the Doctor for a problem, but haven’t made it there yet, wait to make the visit after applying.  Of course, if it is something serious- by all means, go to the doctor!  In my case, I had been having breathing trouble, but figured it was my life-long asthma that got out of control.  I waited until after this entire life insurance process was over before seeing a doctor and I am glad I did.  Now the doctor is saying it looks more like emphysema, which I am sure would have kicked me straight out of the Super Preferred tier.