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.
