There are all sorts of reasons that people purchase instant life insurance coverage. The primary reasons are:

• Income Replacement
• Debt Protection (Mortgage, Credit, Auto, etc... )
• Education Replacement
• Small Business Loans
• Divorce Requirement
• Lease Purchase
• And More…

Mainly, people who have financial dependents and large amounts of debt should consider life insurance in order to protect their loved ones in the event of their death. While it is not a pleasant thought, we all must die one day. Protecting your family in the event of your death is the primary purpose for life insurance.

Replacing Income

For those with financial dependents such as children and spouses, life insurance can supplement your income for them in the event of your death.

Paying Off Debt

For those with large amounts of debt such as mortgage, car loan, student loans, auto loans, etc… life insurance can serve as a way to pay off these debts in the event of your death so that they are not passed on to your family through an estate.

Divorce Requirement

Occasionally, life insurance may be required by law in the event of a divorce in order to prove that you have a way to pay child support or alimony in the event of your death.

Business Loans

Life insurance is often times used by business owners as a way of collateral assignment for loans. In this case, a life insurance policy can be taken out that is then assigned as collateral on a loan, promising that the policy will pay out the amount you owe to the bank in the event of a default.

Small Business Loans

Securing an SBA loan or funding a buy-sell agreement. Maybe you are finally launching your dream company, but are securing an SBA loan to do so. Most people didn’t know that the government requires you to secure your SBA loan with a life insurance policy as collateral assignment.

From the SBA website: “the Lender should require life or disability insurance where there is a concern over whether the business could survive in the absence of an individual or small group of individuals that provide the management for the small business concern.”

You need this money now to begin your business, and can’t wait 2-3 months for a life policy to be approved. “No exam” policies can be approved instantaneously without holding up your business financing.

Adoption

Many adoption agencies will want to make sure the child is not placed in a financially unstable home. One way to demonstrate financial care for the child is to have life insurance in place to provide for care if something happens to you. Again, speed is the issue here, and long delays in underwriting could delay or suspend an adoption process.

Other Options

Life insurance is also used for many other reasons, such as planning for retirement, leaving a legacy, building a trust or estate, and as an investment vehicle. For the most part, if these reasons are why you are looking for life insurance, you should likely consider permanent life insurance, which we will discuss at the end of this section.

With new advances in technology and underwriting, life insurance companies are now able to offer customers the ability to bypass the medical exam. There are a few requirements though. Applicants that qualify for accelerated underwriting are typically in great health. Accelerated underwriting also limits coverage amounts to $1m, but some companies offer it up to $3m for qualified applicants. 

Simplified Issue life insurance policies do not require a medical exam, but a medical questionnaire is necessary. The insurance company will use the questionnaire to determine eligibility before they issue the policy. Acceptability based on medical conditions will vary based on the company. This type of policy is more restrictive than other “no medical” policies because health will be used as an underwriting criteria.

Guaranteed Issue life insurance policies do not require an exam, neither do they require the customer to complete a medical questionnaire. Because of the broad acceptability, guaranteed issue is the most expensive type of life insurance in terms of cost per thousand dollars of insurance coverage. Our life insurance agents can determine if this category best fits an individual’s situation. They will also shop a wide variety of company for the best pricing.

Life insurance can be quick, painless, and affordable. But there are still a lot of options and a lot to consider.

Do you go with the quick “no-exam” life product, or go the traditional route?

That’s why we are here. Yes you get a quote and apply online without ever talking with us. Many people choose to do that. We have set up portal to make life insurance as easy as possible.

We are also real people who have can help. We’ve developed a group of experts on multiple companies and products to be able to guide you through multiple life options. Our job is to find you the best coverage at the best value, and we can do that through our portal or by speaking with one of our agents.

Check out our online system, but remember we are here to answer your questions and concerns about your own life insurance situation.

Contact us today and let us help you find the best life product for you.

Our online application is for term life insurance policies. We also offer whole life insurance, but you will need to speak with one of our agents on the phone to receive a quote and apply. Of the two types of life insurance, term is the most popular.

Fill out the form at the top of this page to see your custom life insurance quote. We will need your date of birth, height, weight, tobacco usage (if any), coverage amount and term length to show you a quote. This quote is preliminary and does not take into account any health issues you may have.

No. We offer term insurance that does not require an exam. We also offer term policies that do require an exam. On average, the term life policies that do not require an exam have higher premiums.

We advise those with health issues to go with a fully underwritten policy. Typically, life insurers let applicants with outstanding health skip the exam. If you are in good health, but have a lengthy medical history, it is best to take the exam to ensure the best rate.

A life insurance calculator will tell you to choose a death benefit that is equal to 7-10 times your annual income plus whatever debt you carry. Also include an amount for your children's college tuition. For the term length, we recommend a 20 or 30 year term as they provide the most value.