Term Life Insurance Quotes - Auto Insurance and Finance Center

FAQs

Am I obligated to buy this policy?

You are not obligated to purchase this policy unless you are 100% satisfied. Once the policy is issued, you will have time to review and make certain you want it. Even if you have paid to place the policy in force, you have 10-day (and in some states longer) free look period to return the policy for a full refund!

Will the premium rise if my health deteriorates?

Once you purchase your policy, the insurance company cannot increase your premium during the guaranteed level period, no matter what happens to your health. As long as you pay your premiums on time, you are locked into the premium rates for the entire guaranteed period.

Will there be a medical exam? What will it consist of?

There will be a simple physical exam as part of the process. The examiner can conduct the exam at your home, office or other convenient location. The examiner will be a licensed paramedical examiner or medical doctor and the exam will take 20 to 30 minutes. The exam may involve a blood and urine sample, blood pressure reading, height and weight measurements and a series of questions regarding your medical history.

How are rate classifications determined?

The insurance company will underwrite your policy based on your medical history, medical exam results, financial situation, driving record, avocations and family medical history. All these factors are used to assess your risk to the insurance company. There are differences in the underwriting guidelines of the insurers and it is our responsibility to find you a competitive policy. We do the work for you!

What kind of riders do these policies offer?

There are varying riders for term life insurance policies. Ask our representatives if your choice of insurer offers any of these riders:

Conversion Feature - allows the owner of a term life insurance policy to exchange (or convert) the policy to a permanent life insurance plan (whole life or universal life) without evidence of insurability.
Children's Insurance Option - provides term life insurance coverage on each child of the insured's family.
Accelerated Death Benefit - accelerates the availability of a portion of the death benefit if the insured is diagnosed as terminally ill by a licensed physician (must be terminal within 12 months).
Waiver of Premium Option - the insurance company will continue to make your life insurance premium payments if you become disabled.
Accidental Death Benefit Option - an additional death benefit will be paid if you die by accidental means.