We offer term life insurance quotes online and direct from several affordable and highly-rated companies. Term life options usually range from 5-40 years depending on your time horizon. Through needs analysis, 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 from numerous well-capitalized carriers. We also work directly with life underwriters to give you the most accurate quotes based on your health and family history. This way you can find the lowest premiums for your coverage.
We licensed with all term life insurance providers so our clients can compare rates with several side by side. We also work with medical underwriters in order to see where carrier might offer better rates over another.
With our help you can find stable life insurance coverage for the time period that best fits your needs and goals. By establishing a 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, Aviva, Banner Life, Genworth, ING, Prudential, Lincoln Benefit, Lincoln National, MetLife, Minnesota Life, Mutual Of Omaha, Nationwide, Transamerica, and West Coast Life to name a few. With us, online enrollment is quick and easy with less medical underwriting than before.
The most common policy purchased is level term life insurance. This option offers a level death benefit that neither increases or decreases over time. 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 have changed.
Decreasing term life allows you to purchase a policy with a death benefit that decreases over time. Premiums don’t change in most cases – 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 workout regiment, or logging exercise through a mobile app. For those who like to stay in shape, this coverga type can be a very good choice.
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, rather a medical professional will come to your home or place of business. Medical records from your primary care physician may be requested however.
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 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.
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 while during your lifetime. There will be specific circumstance when this can happen. It might be for a chronic illness or long term care situation, but this can come in handy for some. 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 carriers 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.
Our independent life insurance agency works with the most affordable providers. We make it easy for you to compare and purchase term life insurance plans that fit your overall needs and goals. Contact us for a consultation or to view quotes today!