Let’s Talk Life Insurance
Life insurance is without a doubt the most important product we provide. It’s a conversation most don’t want to have but know they should. We’re talking about protecting your family. With life insurance, you’ll be able to provide the ones you love with income replacement, mortgage protection, college education and more in the event of your passing. We know this isn’t an easy thing to talk about let alone think about. However, you can take comfort in knowing we are well-versed in this topic. We’re here to provide you with all the information you need – and we’re here to help you make the right decision for you and your family.
When working with us, you won’t be pressured into anything. We never take that approach. Rather, we’ll encourage you to commit to the life insurance underwriting process, whether you go through us or not. It’s the first step to getting the answers to your questions and allows your agent to offer you the best advice for your unique situation.
The Life Insurance Underwriting Process
The process typically consists of a phone interview and medical exam. Once all the information is collected, you’ll receive a rating. Your rating could be standard, preferred, or super preferred. As soon as we know your rating, we can go over the different options that are available to you. We’ll break everything down and answer all your questions to ensure you’re making the best decision for you and your family.
If at the end of this process you decide not to move forward with us – no hard feelings. We won’t send you a bill for the phone interview or medical exam. These items are a part of our process. The only item you’d be paying for is a policy should you decide to purchase one.
For those who receive a super preferred rating, we encourage them to buy the most amount of coverage. This is simply because you won’t get any younger or necessarily any healthier than you were at the time of your approval.
As a carrier, we offer a non-medical, non-underwritten policy of up to $500,000. If you’re between the ages of 18 and 54, you’d only answer the health-related questions over the phone – no official interview. Within 24 to 48 hours, we’d have an approval rating depending on your current health situation and background.
How Often Do People Change Their Life Insurance Plans?
Our lives are always changing – whether unexpectedly or planned. Some of the major life changes like a new job (higher income) or having kids usually prompt people to re-evaluate their life insurance plan.
The policy you purchase should be fitting to where you are at the present moment. Considering the future may be a part of your decision process, but again, the future can be hard to plan for. So when those big life changes happen, whether planned or unexpected, you can revisit your policy. Typically, we advise our clients to review their policy every 3 to 5 years, and especially when a big life change happens.
One last thing we’d like to note is to never rely on your employer for life insurance. Although it’s a great benefit that employers provide – it’s a group life policy. No underwriting takes place. Employees apply during open enrollment and get their coverage limits. Going through your employer can be risky because it can be taken away at any time – especially if they’re looking to reduce their overhead. That’s why it’s best to have a policy in place that you have control over.
If you’re interested in learning more or considering making a switch to a different provider, don’t hesitate to contact us. We’re here to answer your questions and offer you expert, reliable advice.