Understand how much Life insurance you need.
If something were to happen to you or your partner, it may significantly impact the ability to pay your mortgage, debts, or even everyday expenses such as utility costs and grocery bills.We all have different priorities and this will affect the level of cover you choose. There often isn't a 'one-size-fits-all' cover that will suit everyone, so it is important to consider what you want your policy to cover in order to find the right cover amount for you.
Life Insurance Quote
Once you've done your needs analysis, the next step is to get life insurance quotes .Don’t be impressed if an insurance agent or agency claims they give you the lowest price. The cost of a term life quote for a given person is determined entirely by the insurance company. When comparing quotes from various companies, remember that the cheapest coverage isn't always the best option. Focus on the quotes that are in your price range, and let a licensed insurance professional explain the pros and cons of each choice. Life insurers are increasingly competing by including additional features to enhance the coverage so a few extra dollars spent per year could potentially yield huge benefits down the road.
What happens after I apply for a life insurance policy?
When you apply for life insurance, you'll be required to have a paramedic examination. The results from this exam help our underwriters determine your health status. You'll be contacted by a trained paramedic examiner who will give you specific instructions, such as whether or not you can eat or drink before the exam, and other details. This person will come to a place that's convenient for you (your home, your office or other location) to conduct the paramedic examination.
Understand what is my life insurance premium?
Different people pay different insurance rates (premiums). The rate you pay is based on your age, your health, and your lifestyle. For instance, if you skydive as a hobby, you are considered a higher risk than someone who feels that knitting is about as adventurous as it gets! Your life insurance company determined your "risk class" or "rate class" based on the results of the insurance underwriting process.