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Michigan Life Insurance Guide

Published Wednesday, September 3, 2008 by bloggerblognet22596 | E-mail this post

There are many companies offering life insurance in Michigan, and there are several different types of insurance offered by each. After researching the different types of insurances and the companies that offer them, you are ready to find the best rates available.

Now you need to know how life insurance companies determine rates and what you can do to lower yours. Companies use several factors when determining the rates for an individual.

Though rates may vary widely between companies, the factors they use to determine the rates are pretty much standard industry wide and usually include:

-Age
-Height and weight
-Sex
-Health history
-Marital status and number of children
-Occupation (some are risky)
-Tobacco or alcohol use and
-Hobbies (again, some are considered risky)

Women tend to live longer than men, non-smokers generally live longer than smokers, people with a history of heart disease in their families run a higher risk of suffering from heart disease themselves, and so on. Some of these factors are outside of your control, but there are some things you can do to help yourself qualify for a reduced Michigan life insurance rate.

Obviously, you wouldn't want to get married just because married couples tend to live longer, but you do have more control over your weight and your alcohol and tobacco use. While life insurance rates are affected by age, which you cannot control, buying a life insurance policy while you are young can help you secure a lower rate.

The bottom line is that being an informed consumer and knowing how you can impact your rates, premiums and deductibles is completely in your control. When you do get quotes from several companies, remember to compare similar coverage options and to consider that company's financial stability. This can be done through online auditors like Moody's or publications like Consumer's Reports. Once you realize that you do have some control over your MI life insurance rates, the entire process will seem a lot less intimidating.

Get started comparing Michigan life insurance quotes today!

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