What Is A Life Insurance Quote? 
Great question . Insurance lingo can be very confusing , especially when shopping and trying to compare prices . Here are a few words that can cause some confusion , and how us agents usually mean them . 1 . QUOTE = the price we think you will get based on what you told us . If you are looking for a medically underwritten policy and were not asked many health details , chances are that quote is not very accurate . You can also tell if someone is following a script . There are so many nuances in each person 's situation , that if you find an agent who quotes you more by experience and knowledge than `` if a , then b '' , my opinion is that you will get a more accurate quote and end up with a better rate . 2 . RATE = the price you actually end up paying . Another word is PREMIUM . This is your cost after all the underwriting has been done and your final rate has been determined by the insurance company . 3 . RATING = this refers to the health rating . Examples are Preferred , Standard , Table C . It is what you are rated after the underwriter reviews all your health information . I hope that helps . Feel free to contact me or post any more questions you might have . 