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.

2. Get a free quote

SelectQuote’s online form is thorough, but won’t take long to fill out. Prefer to talk to a real person? Just call 1-888-279-6192 and a SelectQuote agent will walk you through the necessary steps. Either way, you’ll soon have a list of applicable policies to consider.

3. Compare and contrast

You’ll have lots of options for insurance policies, and that’s a good thing—it allows you to be choosy about the company, price point, etc. Additionally, SelectQuote puts all the information out there in a side-by-side comparison, so you can compare and contrast with ease.

4. Select your policy

Consider the features most important to you and select accordingly. Rest assured that SelectQuote works with the most reputable insurance companies in the business, so no matter which one you choose, you can count on them to be highly rated and pay out claims promptly.

5. Get your physical

Every prospective insurance policy holder needs one, but SelectQuote again makes this stop nearly effortless. They’ll make arrangements with a licensed paramedic to conduct the exam in your home at a time that’s convenient for you. You’ll also receive a copy of your lab results, which are 100% confidential.

6. Start your coverage

Once you’re approved, you’ll be able to pay your monthly premium and start your coverage. Depending on state laws, you’ll have up to 30 days to reconsider and be reimbursed for your premiums. If you have questions or concerns, you can always contact our Policy Holder Services at 1-800-343-1985.

Obtaining term life insurance only seems like a daunting task. But with a little time — and a little help from the team at SelectQuote — you can have coverage set up rather quickly. Don’t delay getting this important piece of your financial picture in order.

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