Life insurance is one of the best investments that you’ll ever make for your loved ones. It’s one of the best ways to ensure that your family has the money that they need, even if something tragic were to happen to you.
Shopping for life insurance can be a frustrating and overwhelming process. Nobody wants to sit and think about their death, but it’s important that you plan for the things that you can’t avoid. Once upon a time, shopping for life insurance was a long, drawn-out process. Thanks to the Internet and all of the technology, getting life insurance has never been easier.
Life Insurance Online
One of the easiest ways to buy life insurance is to buy it online. Several insurance companies specialize in selling insurance online. These companies allow you to buy life insurance, without having to go into an office or spend hours on the phone with an agent.
If you’re looking to get life insurance as easy as possible, then purchasing insurance coverage online is going to be the best option. With these sites, all that you have to do is fill out a form, and let your application go through the underwriting process. With some of these companies, you can get life insurance in a matter of hours.
Another way that life insurance is getting much easier is thanks to accelerated underwriting. With some companies, when you apply for life insurance, you could wait a month or two to get life insurance protection. Some companies have started using accelerated underwriting, which as you can guess from the name, allows you to get life insurance much faster.
With accelerated underwriting, the whole process is going to be less involved than with a traditional underwriting process. With accelerated underwriting, the company is going to look at your overall health, your MIB records, your DMB records, and they will also look at your current and past prescriptions.
With accelerated underwriting, most companies don’t insure smokers. The goal of accelerated underwriting is to give qualified applicants affordable life insurance as quickly as possible. That’s why these accelerated underwriting plans have strict restrictions, it helps give costs down.
Guaranteed Issue Policies
The quickest and easiest ways to get life insurance is to purchase a guaranteed issue plan. As you can guess from the name, these plans are guaranteed acceptance, which means that regardless of your health or any pre-existing conditions that you have, you can get life insurance protection. These plans are an excellent option for anyone that can’t get accepted with a traditional life insurance plan, but there are several pitfalls of these plans that you should be aware of when you’re shopping for coverage.
One of the most significant drawbacks of these policies is that you’re going to be limited to how much coverage that you can buy. Most guaranteed issue policies will only give you around $25,000 worth of coverage. For most families, that won’t be nearly enough insurance. Not having enough life insurance is one of the worst mistakes that you could ever make for your loved ones.
Another drawback of these plans is that they are going to be more expensive than a traditional policy that has an exam or medical underwriting. The purpose of the medical exam and the health information is to give the insurance company an idea of how much risk you present to the insurance policy. Without that knowledge, the company is taking a much greater risk to give you protection. They are going to offset that by charging you higher premiums.
Independent Insurance Agents
One easy way of getting life insurance is to work with an independent insurance agent. Unlike traditional insurance agents, independent brokers work with dozens and dozens of highly rated companies. These agents can bring quotes from dozens of quotes all at once. Independent agents can save you both time and money on your life insurance. Not only can an independent agent save you hours and hours of time, but they can also answer any questions that you have about the different kinds of insurance plans on the market.
Life Insurance has Never Been Easier
Life insurance is one of the best safety nets that you’ll ever buy for your family, but millions of Americans procrastinate on buying a plan. It’s never been easier to buy a quality and affordable life insurance policy, which means that you have no excuse not to purchase an insurance policy.