How to Get Better Life Insurance Faster – InsuranceNewsNet
Compare providers and apply online
Many providers will provide life insurance buyers with full details of their policies. A life insurance buyer must first determine the type of life insurance they want and the amount of coverage they want. They can then research multiple companies that offer that specific policy and compare features. The choice of provider can be narrowed down to the policy that best suits an individual’s needs.
Premium costs between different insurance companies can be compared by contacting a life insurance agent or submitting information to an online life insurance marketplace. Once a decision is made on which policy to follow, buyers can apply online and sometimes receive a decision the same day. Life insurance policies that do not require a medical exam may be taken out faster, but keep in mind that they may come with a higher premium. Here are some types of life insurance that buyers can get quickly.
Term life insurance provides coverage for a set period of time. The different durations can vary from one year to 30 years. The most common terms are 10 to 20 years. If a person dies during the period and has continuously paid the premiums, a beneficiary will receive the coverage amount in the policy. Term life insurance policies generally have a low premium cost, making them ideal for life insurance buyers looking for an affordable option. These policies are often suitable for buyers who have young families or who are about to retire. Term life insurance is also a good choice for those who have debts paid off over the next few years.
Permanent life insurance provides coverage to a policyholder for life as long as the premiums are paid. The policies also offer cash value, a living benefit for the policyholder. Part of the premium is used to fund the death benefit and part to build the cash surrender value. It earns interest over time and can be withdrawn or borrowed. Policyholders can use it to pay other expenses or pay their premiums.
End-of-stay expense insurance
Final expense insurance is a type of whole life insurance policy sometimes called funeral insurance or funeral insurance. It’s similar to other whole life policies, except it’s smaller and more affordable. The death benefit is designed to help cover funeral expenses and any other remaining expenses. In addition, these policies generally do not require any medical examination, which speeds up obtaining a life insurance.
The bottom line
Each of these types of policies can be secured quickly by first comparing providers and then applying online. Fidelity Life offers term life, permanent life and final expense policies with an online quote or the help of a licensed agent, making it easy to get a policy. Fidelity Life can help you compare rates and apply online to help you get life insurance coverage faster.
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Source: Fidelity Life