Speak to a licensed sales agent! 1-855-564-8078

life insurance policy

8 Posts Back Home

How Your Life Insurance Quote is Determined

Life insurance plays an important role in protecting your loved ones from financial burden. Single or married, in your 20s and 30s or older, with kids or without, most people benefit from some level of life insurance. However, the perceived cost often holds people back from buying a life insurance policy. It’s assumed life insurance is expensive. A misconception that’s untrue for many people. How are Life Insurance Quotes Determined? The process of getting a life insurance quote is simple. You’ll start by filling out a questionnaire. This helps your SelectQuote agent provide a side-by-side comparison of prices from highly reputable insurance companies. Your SelectQuote agent will help you find a plan that works for you. Once you select plan, you’ll undergo a mini-medical exam. The life insurance company then conducts its underwriting process and delivers your final price. When completing the underwriting process, insurance companies look at a variety…

What to Expect at a Life Insurance Medical Exam

Life insurance is one of the most affordable ways to protect your family’s financial security. It’s important for all members of the household to have life insurance. Non-working partners benefit from life insurance too. Many people stress over the medical exam that often accompanies the application process for life insurance. Don’t stress. The following guide will help you navigate the life insurance buying process and medical exam. Who Can Get a Life Insurance Policy? Most people between the ages of 18 and 75 are eligible for life insurance. Working with an insurance sales agency, like us at SelectQuote, can help you get the coverage you need at the best price. We do the hard work for you by providing unbiased comparisons from the highly rated insurance companies we represent. Even if you have had some health issues, there is a good chance you can still get life insurance. We often…

Stay-at-Home Parents Need Life Insurance Too

Stay-at-home parents deserve a great big round of applause. From chauffeur to cook, counselor to bookkeeper, they wear many hats. The 16th annual Mom Salary Survey by Salary.com showed moms could hold 20 titles and work more than 90 hours a week as a stay-at-home spouse. While a stay-at-home parent doesn’t see a paycheck roll in each month, their financial contribution to the family is significant. Salary.com calculated the typical stay-at-home mom in the U.S. would earn a salary of $143,102. A handy calculator makes it easy for anyone to determine their stay-at-home paycheck. While Salary.com’s survey may have focused on moms, the role of stay-at-home parent falls to men and women alike. A growing number of dads are choosing to stay home with the kids, while their wives take on the role of sole breadwinner. So how does an individual’s employment status correlate to their need for life insurance? The…

Questions to Ask When Considering Life Insurance

People often get nervous about shopping for life insurance because it seems complicated. That’s understandable. Sometimes it seems filing taxes may be easier than figuring insurance costs and policy plans. The good news is that there are a lot of sources for helpful tips out there to get you through the process, so do your research. Here are some essential questions you’ll need to consider: Do I Need a Life Insurance Policy? To start, ask yourself a couple questions. 1) Any chance that you’re going to die someday? 2) If you answered yes, are you single with no debts and no dependents? If there’s anyone whose day-to-day survival depends on your ability to earn a living, a life insurance policy should probably be on your to-do list. Even if you don’t have a pressing immediate need for it, the younger you are when you buy it, the lower your life insurance…

Life Insurance: Living on the Edge Can Cost You

When it comes to your life insurance, living on the edge can cost you. In 2004, “Along Came Polly” starring Ben Stiller, was in theaters. Ben played  Reuben, a high-strung, by-the-book risk management analyst? One of Rueben’s  biggest clients constantly participated in high-risk hobbies.  Because Reuben assessed risk for a living, these hobbies made him sweat bullets. He understood, the higher the risk, the less likely there was going to be a policy that would protect his client. High-Risk Hobbies What you may deem as regular recreational activities or bucket list agendas may signal a red flag to life insurance companies and people like Reuben. What might be some red flags? For example, if you’re partaking in activities like rock climbing, skydiving or kayaking, you’re a riskier case than someone whose idea of a “rocking” weekend night is a game or two of Mexican Train at home. Also, because you’re riskier…

Should You Transfer Life Insurance to Your Children?

Financial protection translates to security for many parents and knowing their children will be taken care of financially can help provide peace of mind. From the minute your child enters the world, they become your first priority and concern above all else. This won’t change as you consider how to best provide for them, should the unthinkable happen. Did you know you can transfer your life insurance policy to your children?  While this option is not for everyone, you may be in one of the unique situations where this can better help you and your children. For example, if your estate is worth more than $5.59 million, you may consider transferring ownership of your life insurance policy as a means of lowering estate taxes.  You can avoid federal taxation on the life insurance proceeds by transferring ownership to your adult children, or another, trusted beneficiary. Other reasons people transfer ownership of…

A Quick Guide to Purchasing Term Life Insurance

shutterstock_165733118Protecting your financial future is just a few steps away.
If you’ve been avoiding getting a life insurance policy because you think the process is too complicated, think again! All you need is a little bit of time and some follow through to put a policy in place. Term life insurance is one of the simplest and easiest ways to make sure your loved ones have the money they need to survive comfortably if something happens to you—and if you are young and healthy, it’s probably the cheapest protection around, too. Don’t leave your finances in the hands of fate: instead, follow these simple steps to a secure future.
1. Choose an insurance amount
It makes sense to get sufficient insurance right out of the gate. The bare-bones rule of thumb: 10x your current salary. For a more accurate amount, use SelectQuote’s easy-to-use calculator, and in moments you’ll know exactly how much you should be insured for.

Should I Stay With My Company Insurance Policy or Get My Own?

Human ResourcesWhen you land that new job one of the first things you negotiate is your salary. After that comes along the details about the employee benefits you will receive. Most employers offer life insurance, but how do you know if you should stick with the company’s policy or if you should get your own policy? We are going to discuss the benefits and downfalls of getting insurance through work vs a personal policy.

First you must know that it is advised that you get a life insurance policy that is eight times the amount of your annual income. The policy you are offered at work will, on average, equal one year of your income. If you choose, you can get more coverage and pay the difference yourself. If you are single with no dependents,