1. Do I need it?


2. How much do I need?


3. How do I know whether a Life Insurance company is reliable?


4. How do I know whether the policy will be a good fit for me?


5. Does my spouse need Life Insurance too? Even if he/she doesn't work?


6. How can I save money on Life Insurance?


7. Where can I get good, unbiased advice when purchasing Life Insurance?


8. I've had a serious illness, can I get Life Insurance?


9. Does a Term Life Insurance policy offer me any benefits while I'm still living?


10. If my health gets worse after the policy starts, can the Life Insurance company raise my rates or cancel my policy?

1. Do I need it?

   You don't need Life Insurance if:

   • You are so well off your loved ones can maintain their lifestyle and handle future financial needs without depleting your nest egg.
   • Your death won't be a financial hardship to anyone. For example, if you're single, with no dependents. Or if you're a two-income, childless couple, and either of you could easily maintain your lifestyle without the other's income. (But think beyond family here. Is there a charity you've made significant financial commitment to? A business that depends on you? You may want to buy Insurance to soften the blow for them.)

   If you don't fit these descriptions, then chances are you need some kind of Life Insurance.

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2. How much do I need?
   • This is very dependent upon your personal situation. And a SelectQuote Licensed Agent can help you do a simple "Needs Analysis" that will give you your answer.
   • You'll probably want to replace your income, first and foremost. Then you'll want to provide for future major expenses like college education for your children, weddings, or a comfortable retirement for your spouse.
   • Finally, think about any special bequests you could make with Life Insurance—to your college alumni association or the local art museum, for example.

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3. How do I know whether a Life Insurance company is reliable?
   • There are several Insurance ratings services, such as A.M. Best. Insurance companies are primarily rated on financial stability and claims-paying ability.
   • You'll want to make sure the company you buy from is rated A- or higher by A.M. Best. Every company SelectQuote represents is rated A- to A++ by A.M. Best and has a good record of paying every legitimate claim.

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4. How do I know whether the policy will be a good fit?
   • Check out Decisions you need to make on this website. Doing so will help you define what's really important to you in a policy. You'll weigh Term versus Permanent and you will be able to clearly consider how much coverage you really need and how long you really need it.

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5. Does my spouse need Life Insurance too? Even if he/she doesn't work?
   • If your household depends on the income of both spouses, then both need Life Insurance.
   • If your spouse takes care of the children, cooks, cleans, chauffeurs—these are all services you'd need to pay or in some way provide for if he or she died. If you decide to do all of them yourself, you'd need to cut into your work time and potentially reduce your own earnings. A Life Insurance policy on your spouse can provide the funds to meet these needs.

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6. How can I save money on Life Insurance?
   • First, buying Term Life Insurance instead of Permanent (Whole Life, Universal Life or Variable Life) can save you thousands of dollars over the duration of the Term policy.
   • A SelectQuote Licensed Agent will impartially shop our highly rated Term Life Companies for their best rates for you. Buying a no-frills, no-extras policy (no riders, no extra-cost benefits) is another cost-saving strategy.

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7. Where can I get clear, unbiased advice on Life Insurance?
   • Start with the web and congratulate yourself that you're at the SelectQuote site. SelectQuote pioneered the impartial direct marketing of Term Life Insurance over phone over twenty years ago. While we represent several highly rated Insurance companies, our Licensed Agents are independent and serve as your impartial advisors and advocates every step of the way.
   • We have unmatched experience in Term Life Insurance. Once we have a clear idea of who you are, we can match you with the Term Life company, from the companies we represent, that offers the best blending of quality and price for you.

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8. I've had a serious illness. Can I get Life Insurance?
   • Today many Life Insurance companies will write policies on people they would have considered 'uninsurable' twenty years ago. We're experts on the underwriting policies of the Life Insurance companies we represent, and we can help guide you to those most likely to underwrite you at the most competitive price.

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9. Does a Term Life Insurance policy offer me any benefits while I'm still living?
   • If your policy has an Accelerated Death Benefit rider, and you become terminally ill or suffer certain kinds of disabilities, a Life Insurance company will pay part of what would have been the death benefit. These riders are automatically added (where available) and have no initial charge. Please ask your agent or review the policy for full details.

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10. If my health gets worse after the policy starts, can the Term Life Insurance Company raise my rates or cancel my policy?
    • No. And no. But at the end of the Term you choose—10, 15, 20, 30 years—you may have a hard time finding a new policy with affordable rates. You can keep the Term policy you have, but you may not want to. After your guaranteed rate period ends, your rate will increase substantially, and will continue to go up every year after.
    • If your health becomes an issue before the expiration of the conversion right in your policy, it may be a good idea to, at that time, convert your Term policy to a Permanent one.

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