How Date of Birth Affects My Quote

Some may wonder why your date of birth is important when applying for life insurance. To answer this, it's important to understand what life insurance is.

Life Insurance is a way to fill a potential financial void in the case of your death. This void may be created in your home or your business, but in either case, there is a real and significant need for something that is no longer there. Life insurance companies create a way to fill that financial void.

If you die, the death benefit your family or business receives comes directly from the premiums of life insurance policy owners—the "profit" of the insurance company. Because of this, life insurance companies don't want you to die! The more likely you are to live, the lower you'll have to pay for life insurance. Having your date of birth helps the insurance company determine your life expectancy.

Some life insurance companies calculate their rates based on your actual age. Other life insurance companies use your closest age. Our online quoter sorts the insurance companies' rates by your date of birth ensuring that you receive the most competitive quotes available.