Comparing life insurance quotes, line by line
Nine rows. If any differ, you're not comparing yet.
Two life insurance quotes are only comparable if they describe the same contract. Most don't, and the difference is rarely visible in the headline premium.
Copy these rows into a note and fill one column per quote. If a row differs, resolve it before looking at price.
The nine rows
- Face amount — the death benefit, in dollars
- Term length, or permanent
- Premium, and whether it's level for the whole term
- Assumed health class — and whether it's assumed or confirmed
- Conversion privilege — available, and until when
- Riders included, and which are optional extras
- Whether it's fully underwritten, accelerated, or simplified issue
- Any waiting period, and what's paid during it
- Renewal terms after the level period ends
The row people skip
Assumed health class. A quote assuming the best available class will always undercut one assuming a standard class, and that gap is an assumption, not a discount.
Until underwriting is complete, most quotes are estimates. Knowing which of your columns are estimates and which are confirmed offers is essential.
The row people underrate
Conversion. It costs nothing today and it's the feature that protects you if your health changes during the term. Two otherwise identical policies where one converts and one doesn't are not the same product.
Then compare price
With all nine rows matched, price is a real comparison. Add one final test: would you still be comfortably paying this premium in five years? A lapsed policy pays nothing.
Want this checked for your situation?
General information only. A licensed insurance professional can tell you what actually applies to you.
General information only, not insurance advice. Coverage, availability, and terms vary by insurer and by state. Quote My Policy LLC is a licensed insurance producer.