Buying life insurance is never a fun process. It can be long and complication, but it’s one of the most important purchases that you’ll ever make for your family. There are dozens of different insurance policies that you can choose from and thousands of different companies that sell these plans. Luckily, we are here to help you make the best decision for your loved ones.
Working with an Independent Insurance Agent
Working with an independent insurance agent is one of the best ways to find the perfect insurance policy for your loved ones. There is a lot of confusion surrounding the benefits of using an independent insurance agent. A lot of people assume that you have to pay to use an independent agent, but that isn’t true. These independent insurance agents are free to use, and will save you both time and money on the life insurance process.
Unlike a traditional life insurance agent, independent insurance agents can represent dozens of insurance companies and bring all of the lowest rates directly to you. With an independent insurance agent, you don’t have to worry about being sold less than ideal coverage because we are working for a company. Also, we won’t try to see you additional riders or other policies that are a waste of money, we have your best interests at heart and are looking to simply connect you with the plan that is going to provide you with the insurance coverage that your family is going to need.
Every insurance company is different, and all of them have varying medical underwriting categories, which means that you could get drastically different rates. It’s easy to see why it’s important to compare quotes from dozens of companies before you chose the one that is going to work the best for you. Comparing rates could save you hundreds of dollars on your insurance coverage. If you wanted to do that yourself, you could spend weeks calling different companies and answering the same questions over and over again, or you can let us do all of that work for you.
If you’re a high-risk applicant or you have a pre-existing condition like diabetes or a heart condition, we can find an insurance company that is going to view your situation favorably and give you low rates on your insurance coverage. Several companies on the market have experience working with high-risk applications, and they are going to give you much better rates than other companies that don’t have that experience. In fact, there are dozens of companies that are going to automatically decline any applicant with severe health complications. Instead of being declined for your life insurance, let one of our independent agents connect you with one of our quality insurance companies.
What Type of Life Insurance Policy is Best for you?
Having the right life insurance agent can also help direct you to the right type of policy that is going to fit your needs the best. There are several varying types of life insurance that all have different advantages and disadvantages that you need to weigh based on your situation. The two main types of coverage are a term life insurance policy or a whole life insurance plan.
With a term life plan, you purchase a plan that has a pre-determined length of time that it’s effective. After that time is up, the plan is no longer in force, and you’ll have to reapply for a new plan. These plans tend to be the most affordable form of life insurance protection that you can purchase for your family. If you want the cheapest option for life insurance, this is the best route to take.
The other main kind of insurance is a whole life plan, which as you can assume from the name, is a permanent form of life insurance coverage. As long as you pay the premiums on the plan, you’ll have coverage. You won’t have to worry about applying for coverage in the future, which makes it a great option for people that want to buy a plan and then forget it. One of the unique advantages of whole life plans is that they accumulate a cash value component inside of the plan. The longer that you pay the premiums on the plan, the more value that is built up inside of the policy.
There are other subsets of policies that fall under the umbrellas of whole and term life insurance. Plans like variable life insurance or burial insurance plans. All of them are designed with different clients in mind. The right life insurance agent can talk with you about your needs and goals and show you which plan is going to fit your needs the best.
How much Life Insurance do you Need?
An independent insurance agent can also walk you through deciding how much life insurance you should buy to protect your loved ones. Buying the right amount of coverage is a balance between buying enough to give them the money that they will need, and not paying for more coverage than you need and wasting money in monthly premiums. There are several different financial factors that you need to calculate when determining what your life insurance needs are.
The first thing that you should think about is how much debt and unpaid expenses that you would leave for your loved ones if you were to pass away. Your family members would be responsible for all of your bills and massive debts like your mortgage and student loans. When you’re looking to buy a life insurance plan, make sure that it is large enough to pay off those debts and gives them the resources that they need.
The next factor that you need to consider is your salary. The secondary goal of your life insurance to replace your paycheck if anything tragic were to happen to you. If you’re one of the main income earners in your household, your family will struggle financially after you pass away. Having adequate life insurance will give them the resources that they need if anything were to happen to you. There is no exact number on how much life insurance you should get, but most insurance professionals suggest that you purchase around seven to ten times your annual income.
Not having enough life insurance is an awful mistake that could leave your family with leftover expenses and not enough money to go around. This can add financial burdens to your family that made a stressful situation a lot worse. As your life continues to change, your life insurance needs will change with it. Make sure that you reevaluate your life insurance policy every couple years to ensure that you still have the policy that you need.
Life Insurance for High-Risk Applicants
Regardless of your health or any pre-existing conditions, we can help connect you with the perfect plan to fit your needs. We work with dozens of insurance companies that specialize in giving high-risk applicants quality insurance policies. Even if you’ve been declined for coverage, we can find an affordable no exam policy that will fit your needs.
These no exam policies will give you the coverage that you need without being required to undergo the medical exam. They are an excellent way to get life insurance protection, even if you’re in poor health or have severe health complications that would get you declined with a traditional policy. Nobody should have to go without life insurance protection, and these no medical exams are a great way for anybody to get coverage.
Additionally, a no exam plan could be the best route for a senior that is looking to get life insurance coverage. Age is one of the biggest factors that an insurance company is going to use. Because seniors are more inclined to have severe health complications, they are more likely to get declined for coverage. These no medical exams could be the best option for a senior that’s been rejected in the past for a life insurance policy.
Life Insurance with the Right Agent
When you’re looking to purchase life insurance, it can be a confusing and frustrating process, but working with the right insurance agent can make all of the difference. Our independent agents can make the process as quick and seamless as possible. It’s vital that you get the best insurance plan that is going to give your loved ones the protection that they need.
Nobody wants to think about his or her own death. It’s not the most fun topic to discuss around the dinner table, but it’s one of the most important discussions that you can have. Not having this discussion and planning for the inevitable could be more of the worst mistakes that you ever make for the future of your family members. If you were to pass away without life insurance in place, your loved ones would be responsible for paying your mortgage and other debts, which can be a severe financial strain on your family as they go through the emotional pain of losing a loved one.
If you have any questions about life insurance, the different kinds of policies, or want to get assistance from one of our independent insurance agents, please contact us today. We would be happy to answer any questions that you have and connect you with the perfect insurance policy for you.
You never know what’s going to happen tomorrow. Because you can’t predict the future, you shouldn’t wait any longer to get the insurance protection that your family deserves. Start the process today!