How To Evaluate Term Life Insurance? 
With term insurance , you 're getting a lot of `` bang for your buck '' because you 're only buying the coverage for a limited amount of time . There are hundreds of insurance companies in the market that offer term life insurance . One thing you do NOT want to do is just apply to a bunch of companies at the same time . This can often hurt you in your pursuit of coverage because it can be a `` red flag '' to an insurance company -LRB- so-to-speak -RRB- . A critical factor in determining which carrier 's policy is going to work best for you is the risk class they will offer you -LRB- the risk class determines the premiums for your program -RRB- . Each insurance company has their own set of underwriting guidelines so you may not get the same risk class offer from one company as you would from another . Some companies are conservative in their underwriting -LRB- meaning they have stricter underwriting requirements -RRB- and others can be more aggressive -LRB- meaning they have more lenient underwriting -RRB- . For example , company A may offer a given medical history a preferred risk class while company B could easily offer a standard risk class -LRB- requiring much more in premiums for the same coverage -RRB- . I 'd recommend working with an independent life insurance agent/broker . Doing the research on your own can be extremely time consuming and you may not always find the information you 're looking for . Independent brokers have an extensive knowledge of the subject matter and know the differences between products that are available in the marketplace . Brokers can help you through the entire process from start to finish . This includes helping you determine how much coverage is suitable to what you need the coverage for and how long you should have it in place for through an insurance needs analysis , provide quotes from multiple carriers and compare the options with you , track the application while it 's in underwriting and provide assistance on future needs as well . 