|
||
| ||
Have Questions? Get Answers About Life InsuranceFrequently Asked Questions (FAQs) about Life InsuranceWhere Do I Begin?We recognize you are looking to make the best decisions for you and your family - quickly and easily. We know this because we have helped thousands of customers get the life insurance they need to protect their assets, their families. Take a look at some of the most frequently asked questions we receive from our customers as they shop for affordable life insurance with us online. Note: The responses and quick tips provided are basic information for life insurance. Specific procedures, policies, protocols, and requirements may vary. Find Answers, Then Get a QuoteOnce you get the answers you need, then get a free Life Insurance Quote with IntelliQuote. We offer Free Quotes from affordable life insurance carriers with an AM Best Rating of A- or better. After viewing your quotes and selecting a life insurance carrier online, you will speak with one of our IntelliQuote life insurance agents by phone. During this brief call, we answer any additional questions you have. We review your application and help ensure you have selected a life insurance policy that best fits your needs and your specific health and lifestyle profile. Review Questions Most Frequently Asked About Life Insurance
How Much Life Insurance Coverage Do I Need?Industry experts recommend that you purchase five to 10 times your current annual income. This rule of thumb does not account for current assets or any special needs you and your family may have, however. We recommend you consider these important factors in estimating your family's financial needs in the event of your death.
Additional Resources:
Once you have the information you need, Get a Quote to see affordable rates from our highly rated life insurance carriers. Do I Need Coverage on My Spouse, Dependents, and/or Children?Consider the emotional burden and financial pressure that comes with the premature death of a spouse. It may be necessary to cover various expenses associated with the loss of a spouse such as medical or burial expenses, or counseling. The surviving spouse will often take time off from work or make other career adjustments to deal with these issues, or to spend more time with children or other family members during this difficult period. Many overlook life insurance coverage for their children. Children's Life Insurance is available to cover final expenses and also can be provided to guarantee insurability for the child's future. When you Get a Life Insurance Quote and apply online, you can get an additional quote to add your spouse or dependents. We will ask you during the application process if you desire coverage for your spouse, dependent's, and/or children. Additional Resources:
How Is My "Health Class" And Resulting Rate Determined?Each company uses their own criteria to determine which health class you belong to and your resulting life insurance rates. It is entirely possible for one person's health class to rate as "Standard" with one company and "Preferred" with another. Some factors such as Smoking can also have a direct impact on determining your health class. In order to receive "Preferred" rates, you must be in excellent overall health and lead a healthy lifestyle. Each company determines limits on weight to height, cholesterol, blood pressure, and any significant personal health issues. Family health history is also a factor used in qualifying for low preferred rates. You cannot use tobacco of any type. You must not have a history of alcohol abuse or drug use. You may not be involved in hazardous activities. We recognize that there are many factors in determining your health class. To simplify this process IntelliQuote's online Life Insurance Quotes includes a Health Class Estimator. This unique feature is designed to help you better gauge your particular health class to qualify for the lowest rates possible. IntelliQuote continuously update information on our highly rated carriers to provide you with the most accurate health class information possible. Medical Exam May Impact Rates QuotedAs part of the life insurance application process, all insurance carriers require a simple Medical Exam prior to determining your actual health class and resulting rate. This determination may differ from the initial health class or rates you were quoted during the application process. Additional Resources:
What If I Smoke Cigarettes Or Use Other Forms Of Tobacco?Due to increased health risks, rates for smokers are higher than those for non-smokers. To qualify for non-smoker rates, most companies require that you be a non-smoker for at least one year. Some companies will even offer a special rate to healthy smokers who hope to stop smoking within one to four years. The individual agrees to re-qualification at the end of the period to maintain these low rates. (Is re-qualification the same as re-entry see last FAQ below?) In many cases, companies view other tobacco products (cigars, pipes, chewing tobacco) in the same rating as cigarettes. However, several companies allow pipe, cigar, and chewing tobacco acceptable to qualify as non-smokers. Additional Resources:
How Can I Be Sure I Am Purchasing Life Insurance From A Good Company?All reputable insurance companies are rated by independent financial rating services such as A. M. Best, Standard & Poor's, Fitch, and Moody's. Insurance companies are evaluated on their overall financial strength and liquidity, and are assigned a grade such as A, A+, B, or C. Each rating service maintains their own Rating System. IntelliQuote carefully monitors the financial strength of each company we quote and represent. We require that each company we quote have a rating of A (excellent), A+, or A++ (superior) by A. M. Best, the nation's leading independent evaluator of insurance companies since 1899. IntelliQuote Uniquely Offers the Customer Placement RatingAdditionally, we have found that the ease of obtaining a life insurance policy, the price, selecting an insurance company you recognize, and financial strength are important factors to consider when selecting an insurance company. Based upon these criteria, IntelliQuote is the first and only life insurance marketplace to offer the Customer Placement Rating system to help provide an additional measure for how other customers, like you, purchase life insurance. Additional Resources: How Do I Request A Life Insurance Application?As you review your Life Insurance Quotes online, you can compare rates and then request an application for the policy that's right for you. You can start the application process by completing the first portion of the application online. This submits your request for the full life insurance application. You can also Contact Us by telephone to request an application. Our IntelliQuote life insurance agents are available to assist you with the process. All forms associated with the life insurance application can be completed over the phone or in the convenience of your home or office. Completed forms are sent to you for your review and signature.
Request an Application Now What Type Of Medical Exam Is Required?Most life insurance companies require a Medical Exam as part of the life insurance application process. This medical exam can be completed at your home or any other convenient location. It takes about 15-30 minutes and is conducted by a licensed paramedical or medical doctor. The medical exam generally involves a blood and urine specimen, blood pressure reading, height and weight measurement, and sometimes a series of questions regarding your medical history. Additional Resources:
When Does My Insurance Coverage Begin?Most companies provide temporary and conditional coverage at the completion of the medical exam provided a premium payment is made when the application is mailed. This coverage is subject to the conditions outlined in the conditional receipt. Replacing an Existing PolicyIf you are replacing an existing policy, you must continue coverage until a new policy is approved at a satisfactory premium. When Do I Make My First Premium Payment?If you require conditional coverage during the time your policy is being underwritten, you must send in your first premium payment with your application to IntelliQuote. However, we do not require a premium payment to be made at the time of application. Your first premium payment may be made when your policy is approved. Can I Protect My Insurance Coverage If I Become Disabled?A rider, called a Waiver of Premium, will provide payment for premiums after six months of a disability. Payments for insurance premiums will continue as long as you are disabled, or for a set period of time if stated in the terms of the policy. This rider is available up until age 55 from most companies at additional cost. Coverage usually ends at age 60. Can My Policy Ever Be Canceled Due To Health Or Other Reasons?Once a policy is issued, it cannot be canceled by the insurance company during the policy period, including changes in health. However, the insurance company can cancel a policy if the required premium payments are not made or if any of the information on the application was found to be misleading or inaccurate. You will not be asked to provide evidence of insurability during the period of the policy. As a policy holder you may choose to stop paying premiums at any time to cancel your policy. What Will My Life Insurance Cost After The Guaranteed Period?Each insurance policy, if renewable, has a guaranteed maximum renewal premium which is explained and illustrated in the policy. The amount is the most you will have to pay to renew your coverage. After your initial guarantee period ends, you can re-apply for new coverage with the same or a different company. If you qualify, you can begin a new period of guaranteed rates. This process is called "re-entry" if you qualify with the same insurance company. Since your future good health is not guaranteed, re-entry is not guaranteed. In the event you cannot qualify for a new, competitively rated policy, many policies carry a conversion privilege. This feature allows you to convert your existing term policy to permanent insurance coverage (a whole life or universal life policy). Conversion periods and terms vary from company to company. Additional Resources:
|
|
| About Us | Learning Resources | Contact Us | Affiliates | Jobs | Legal | Site Map |
|
For assistance call 1-800-963-6405 (Toll Free) 7 a.m. to 5 p.m. Pacific time, Monday through Friday. Copyright © 2008 - IntelliQuote Insurance Services - All rights reserved. 5170 Golden Foothill Parkway, El Dorado Hills, CA 95762. Legal Notice |
