Which policy is right for you?


WHEN SHOULD I BUY LIFE INSURANCE?

Life insurance is the best way to protect your family from hardship should you unexpectedly pass away. There are a wide variety of reasons to purchase life insurance. But at minimum, you do not want to leave behind debts and expenses for your family to have to worry about during their time of grieving.

Everyone should have some sort of life insurance policy. However, those with the greatest need for life insurance are those who have people that rely on their income to get by. If you are the primary bread winner in your family, you should strongly consider a term life policy to take care of your family should the unexpected happen to you.

Below are several important life milestones that we suggest you reassess your life insurance needs after:

Birth of a child

Purchase of a home

Taking on student loans

Getting married

And any other significant change in lifestyle

HOW MUCH LIFE INSURANCE do i need?

The amount of life insurance you should carry depends on your financial situation and future needs. When trying to decide just how much life insurance to purchase ask yourself some of these questions:

  1. What are my immediate needs? If something were to happen to you today, how much do you owe? How would my spouse be able to get by without my income? How would my children’s future be impacted? Who would pay for my expenses?
  2. What are my long term objectives? Do I want to make sure my children’s education is taken care of in my absence? Do I have estate planning needs? Will there be tax implications for my family?
  3. What features are important to me? Do I want to lock in my annual rate? Do I want protection for a specific time period or for my entire life? Do I want to simultaneously set aside money for retirement or investment?

HOW DO I GET A POLICY?

Getting a life insurance policy has never been easier! With our online quoting engine, you can get an idea of just how little term life insurance can cost you in a matter of a few minutes. Once you have identified the company and policy you wish to purchase, the application and underwriting process begins.

At that point, one of our representatives will schedule a para-med exam at your home or office. During that visit, they will go through the entire application and perform some basic medical tests. This information will then be submitted for underwriting review and approval.

WHAT CAN CHANGE DURING UNDERWRITING?

If review of your medical history, your family medical history, or lifestyle results in concerns from the underwriter, the company may request additional information or a discussion with your primary care physician. These can result in additional cost, reduction in coverage amount, or denial of eligibility. For these reasons, it’s important to be as forthcoming as possible from the outset to get the most accurate quote possible.


LIFE INSURANCE FAQS

How long does the underwriting process take?

The typical time from accepting the quote to policy issuance takes approximately 30 days. If irregularities arise, the time period can increase, especially if communication with your doctor is difficult

what affects my life insurance rates?

Typically, a combination of your gender, age, medical history, and lifestyle all contribute to your life insurance rates.

How can i minimize my life insurance cost?

The best way to lock in a low life insurance rate is to purchase it at a young age before you have had any medical issues. Often people wait until it is too late, after something has occurred, and may not be eligible.

do all life insurance policies require a medical exam?

Most life insurance policies do require a medical exam. However, there are some types of final expense or burial policies with low coverage amounts that do not require a medical exam.

what if i already have life insurance?

Great! Because the cost of life insurance typically increases with age, most people do not get rid of their initial policy. Rather, they add additional policies to increase the coverage amount as their needs change.