After reviewing your policy if for any reason you are not satisfied you will have the option to return and cancel the policy with the carrier within the specified time period.
You may still cancel any time after the money back period however you will only have paid for the policy during the time that you had it active.
As soon as your policy has been approved you will have the opportunity to esign and activate the policy in your email.
You may save the policy on your computer and print a copy for you and your beneficiaries records.
Most clients select to pay monthly via direct debit out of your checking account.
You may also chose to pay quarterly, semi-annual or annually via checking account.
Some policies also allow for the payment to be made with a major credit card for the first premium.
A no exam term life insurance policy you will complete an online interview and underwriting will review if you qualify for the policy electronically.
For the best rates carriers have a fully underwritten policy that once you finish your online application the examiner will reach you to schedule a free health check at your home or office.
Once that is completed the underwriter will review the labs along with doctors records to confirm approval for your best rate available.
Your life insurance agent will review your need for insurance based on your current income and debts you may have.
They will also look at the need for coverage such as how many children you have or if you have a mortgage debt.
Many clients decide that they want to protect their families with at least 10x their yearly gross salary making sure the family has the next 10 years of income protected.
They will also add in any debts like a mortgage.
Example-
Gross annual income $50,000 10x = $500,000 +
Mortgage $250,000 +
Cost of children’s college $250,000 +
Total Life Insurance Coverage= $1,000,000