Who Has The Cheapest Term Life Insurance? 
No one single insurance company offers the cheapest term life insurance to everyone . Every carrier has their own underwriting guidelines so the carrier that 's best for you may not be the best for someone else . There are 4 main factors that determine the premium that you pay for your life insurance policy - your age , the face amount of the coverage , how long it 's guaranteed for -LRB- term vs. permanent -RRB- , and the risk classification a carrier will offer you . The risk classification is the MOST important factor in evaluating which insurance company will offer you the lowest rates for a term life insurance policy.The company will look at your personal medical history , smoker status , height/weight profile , results of the medical exam -LRB- if applying for a policy requiring it - no exam policies typically cost more -RRB- , your family medical history -LRB- e.g. cancer or heart disease before age 60 in the immediate family -RRB- , motor vehicle record , and any hazardous activities you may participate in -LRB- such as aviation , scuba diving , drag racing , etc -RRB- . Non-medical policies generally cost more than fully underwritten policies that require an exam because an insurance company is taking on more risk without having a full medical picture of you . It 's best to consult with an experienced life insurance broker who can shop your case among multiple carriers to see who will offer you the most favorable risk classification for your program . Please feel free to contact me for help or if you have any other questions . Thanks very much . 