Term Life Insurance
Term life insurance is an easy and affordable option for young families. Term life provides coverage for a specific period of time, typically the years you expect to need coverage the most, by filling the gap left by the loss of your income and protecting your assets by paying off debts. In doing so, it covers financial obligations that disappear over time, such as a mortgage, college tuition and loans. The healthier and younger you are, the more affordable coverage will be.
The Application Process
Getting life insurance isn’t difficult, but there are a few steps in the process.
Step 1: Get a Quote
By filling out a short financial form, or simply by telling us how much coverage you need or how much you can afford, MY LIFE COVERED™ will provide you with a personalized quote. You can adjust the coverage recommendation up or down based on factors that only you might consider. You can experiment with the quoting tool, changing the amount of coverage you are requesting and/or the term length of coverage, to see which insurers provide you the best coverage solution.
Step 2: Apply for Coverage
Your application process will include identifying yourself and your beneficiaries, as well as answering a few initial health questions. You will also undergo a paramedical exam. Depending on your age and the amount of coverage you’re requesting, this could include: family and personal medical history questions; height, weight & body measurement; fluid specimens; and an EKG to measure the performance of your heart.
Step 3: Receive Your Policy
Most applicants are approved. A few factors may cause the carrier to decline you, such as certain cancers within the past five years. Once approved, you will receive your calculated premium and your policy for acceptance and signing. After paying your first premium (annual, quarterly or monthly payments), the carrier will put your policy in force. At this point, your policy cannot be cancelled unless you fail to pay your premiums according to the provisions of the agreement.
Virtually everyone has someone that they would like to provide for, should the unexpected happen to them. Getting Term Life Insurance coverage has never been cheaper, and for the fit and healthy, the premiums are even lower. Drastically lower.
To find out just how inexpensive your premiums might be, get a free, no obligation quote at MY LIFE COVERED.