Insurance Quote Guide - All Insurance Types

If you are in good health and you have a family history of good health, you will be able to buy life insurance at cheap rates, which are known in the business as ‘select’ or ‘preferred’ rates.

But if you take heart medication or are grossly overweight, you may end up paying 50 percent more than preferred rates for life insurance. Likewise if you smoke, have a risky occupation, or engage in risky sports like car racing, you'll pay even more for life insurance.

Shop around if you fall into one of these high rate categories. Companies charge differently, depending on how it estimates risks. This is where you should use an agent as internet and phone quote services aren't set up to deal with nonstandard policies.

Should you tell the insurance company about negative information that will raise your rates? It doesn't pay to try and fool the insurer. They may investigate suspicious claims. If the company finds out you've lied, the claim may be denied, or your heirs could be tied up in court for years.

So this is the case for buying a life insurance policy early in life while you are still in good health. However, it doesn't make much sense to buy life insurance until you have dependents.