We offer term life insurance quotes online and direct from all highly-rated companies. Term life options usually range from 10-40 years depending on your needs. Using our needs analysis approach, we’ll help you determine a suitable amount of insurance for the right amount of time.
Our instant quoting software allows you to compare prices and benefits from the most competitively priced carriers. We work directly with underwriters to help you find the lowest premiums for your policy type. This is helpful for those with any ongoing health issues.
We are licensed with direct all term life insurance providers. You can click on the green button on the left and quote on your own – or request our assistance. There are no extra costs for you no matter how you wish to work with us.
We can contact medical underwriters to see where carrier might offer better rates as well. If you have health issues, it may be beneficial to run a pre-screen with one or more term life providers first.
With our help, you will find life insurance coverage that best suits your needs and budget. By establishing a stable low-cost plan, you can protect your family and financial interests now and in the future.
Some of our many providers include: American General, American National, Assurity, Banner Life, Genworth, ING, John Hancock, Lincoln National Life, MetLife, Minnesota Life, Mutual Of Omaha, Nationwide, Pacific Life, Prudential Financial, Protective Life, SBLI, Transamerica, and West Coast Life to name a few. With us, online enrollment is quick and easy with simplified medical underwriting.
The most common policy type is level term life insurance. This option offers a level death benefit that neither increases or decreases. Your premiums will be the same each year. Most companies provide discounts if you pay annually.
Level term insurance is usually purchased for 20 or 30 year time increments, but several companies offer differing policy lengths depending on your needs. If desired, you can cancel your policy anytime. You are not required to keep the policy for the entire term if your needs change.
Decreasing term life allows you to purchase a policy with a death benefit that decreases over time. Premiums don’t usually change – and are less expensive than a policy with a level face amount. These policies are designed to meet specific needs – such as those paying down a home mortgage or with children graduating from college.
Annual renewable term insurance is the least common life policy and usually the most expensive. Policies can be renewed each year without proof of insurability, but the premiums will increase year over year while the face amount will stay the same.
And some policies offer decreasing yearly premiums if certain health goals are met. This might include getting an annual physical, maintaining a healthy lifestyle, or logging exercise through a mobile app. For those who like to stay in shape, this coverage type can be very affordable. However, premiums can also increase if your overall health becomes worse for any reason.
In order to receive the best rates for a term life policy, medical underwriting will be required for most policies. You will not usually need to visit your doctor. A medical professional will come to your home or work to take vitals. Medical records from your primary care physician are usually required.
In most cases, the examiner will record your height, weight, and blood pressure while also drawing blood and/or saliva. You will need to be free from tobacco/cannabis usage for at least one year with most carriers in order to qualify for a tobacco-free rate. It’s also important to be drug-free with no signs of heavy alcohol usage.
Due to the pandemic ad technology advances, underwriting is changing, however. Some companies will underwrite you simply based on your MIB report. If you have a clean history, you can qualify for the best Preferred rates with any given company. Insurance companies take turns offering the lowest rates, so don’t assume a rate from several months ago is still your best option.
A new wrinkle to term life insurance is the addition of living benefits. For years, whole life and universal life policies have offered this feature, but it’s somewhat new in the term market. It should be noted that policies with living benefits are generally more expensive.
Living benefits allow you to access a portion of your death benefit during your lifetime. There will be specific circumstances when this would happen. It might be for a chronic illness or long term care situation, but this benefit is valuable for many consumers. While you might not be able to access the whole amount, a portion can go a long way. Your death benefit would be reduced by the amount you withdraw.
Some companies offer limited underwriting should you not wish to undergo a full exam. In this case, you will only need to answer a few questions on the application. Your rates might be higher than if you submitted to additional underwriting, but policies are issued more quickly. These plans are ideal if you haven’t seen a doctor in a while or would rather not do a blood test.
Simplified underwriting policies will have limits on the amount of coverage you can purchase. They are not as flexible as fully underwritten coverage. In most cases, $300,000-350,000 will be the maximum amount of life coverage available from any one carrier. Of course, you can apply to more than one carrier.
And some policies might not require any underwriting at all. These are most often funeral life insurance policies. When no underwriting is required, the full death benefit might not be available for a year or more. This protects the insurance company from adverse selection.
Hyers and Associates is an independent agency specializing in term life insurance policies. We work with affordable, highly-rated and dependable providers. We make it easy to compare and purchase term insurance that fits your needs, budget and goals. Contact us for a consultation – or click on the green button to view your personalized quotes today!