life insurance coverage

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How to Get Life Insurance with a Chronic Illness

Getting life insurance with a chronic illness is not impossible. But many people don’t even try to find life insurance coverage because they assume it’s impossible. While 54 percent of adults with chronic conditions carry no life insurance, SelectQuote has agents trained to help people get life insurance with a chronic illness.   Health issues impact more than 133 million Americans – 45 percent of the population – have at least one chronic illness. Increasing numbers of adults live with a chronic illness such as obesity, asthma, cancer, high blood pressure, depression, sleep apnea, diabetes and other medical conditions. While the young and healthy are prime candidates for lowest life insurance rates, getting life insurance with a chronic illness may not be a barrier. Life insurance companies each have their own underwriting standards. They consider the following: Date of diagnosis Your treatment or maintenance program How you manage your health with…

How Much Life Insurance Do You Need?

If you’re considering buying life insurance, whether for the first time or to supplement policies you already have in place, you’ve made a good decision. Term life insurance is the most affordable way to protect your family’s financial security for the long haul. It replaces your income in the event of your death. And life insurance ensures your dependents can support themselves financially in your absence. Term life insurance is surprisingly affordable. If you’re in your early or mid-career (20s, 30s or 40s) you can buy coverage for under a dollar a day. Even if you’re older, you can most likely find a policy that’s right for you and your dependents at a price you can afford. Your biggest questions may be: How much term life insurance do I need and for how many years? Many tools and tips from experts can help you decide. Making an important decision that…

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…

How Life Insurance Companies Choose Your Term Life Insurance Rate

Life insurance is a cornerstone of any solid personal financial plan, but to most people, there are many mysteries behind the scenes of life insurance. One of those mysteries is how insurance rates are determined. Understanding life insurance rates can help you navigate the many life insurance options and find a company that works with you to get the best rate possible. Understanding the different life insurance rates can help you quickly and easily navigate the many life insurance options available to you and to find a company that works closely with you to get the best rate possible. Insurance Policy Size When signing up for term life insurance, insurers offer a range of policy sizes. This is an important decision, but also has a direct impact on what you pay each month. As logic would have it, you pay more for a bigger policy than a smaller one. However,…

Top 10 Traits and Habits of Rich People

Have you ever found yourself daydreaming about what it must feel like to be rich? Believe it or not, most of the wealthy weren’t actually born that way; their fortune was largely self-made. A recent study by U.S. Trust found that 77 percent of people with $3 million or more in investable assets came from lower or middle-class backgrounds.[1] So even if you’re not swimming in money today, you too have a shot at achieving greater wealth in the future. What do the wealthy have in common? Let’s examine some prevalent traits and habits of rich people that you may want to incorporate into your lifestyle. Here are 10 of the most notable. Investment Savvy Hoarding cash may feel safe in a bear market, but it won’t help you fight inflation or preserve capital over the long-term. Smart investing is an important activity for the wealthy. You don’t have to…

The Importance of Life Insurance Medical Exams

Life insurance is an important financial tool to protect your family, but fears and misinformation keep countless people from learning more and signing up for a life insurance policy. For example, many fear the dreaded medical exam required by insurance companies. However, the life insurance required medical exam is a good thing and could help you save money on your life insurance policy. There are three common methods insurers use to issue a life insurance policy: fully underwritten, simplified issue, and guaranteed issue. Each has differences that are important to understanding when it comes to your life insurance policy and exam requirements. Medical Exam Sign up Options Fully underwritten policies are the most common. This policy requires people to fill out a detailed questionnaire on medical history and complete a health exam. This information allows the life insurance company to place people in the most appropriate risk category, and secure…

Ask an Agent: What Does Life Insurance Cover?

SelectQuote agent Joy Waller tells us a little bit about herself and addresses the frequently asked question of what does life insurance cover. Joy, How Long Have You Been a SelectQuote Agent? Eight years this past May. What’s Your Favorite Thing About Being a SelectQuote Agent? The moment when a client’s policy is activated! Because we work with multiple carriers at SelectQuote, I’m always able to give my clients a choice of rates – which is a great feeling. What Does Life Insurance cover? Life insurance covers your most precious assets when you no longer can. How Affordable Is Term Life Insurance? Term life insurance is the most affordable kind of life insurance available. If you can afford to have a cell phone or go out to eat a couple of times a month, chances are you can afford term life insurance! To learn more from Joy about what life…

True or False?: You May Know More About Life Insurance Than You Thought

smarter than you thinkTo change things up, we decided to put together a short quiz to see how much you really know about life insurance. All of the answers are either “true” or “false”.

Sharpen your pencils and put on your thinking cap and show us what you got!

  1. I got married last month so I should contact my agent to see if my policy is still suitable for my situation.

  • True. Whenever you experience a life-changing event, like getting married or having a child, you should always contact your agent to reevaluate you your family’s needs.

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