Frequently Asked Questions
Most financial planners recommend that an individual secure coverage in the amount of ten to twenty times your annual income. However, individual needs may vary based upon a number of factors. Should you need a more in-depth financial analysis, please contact our office and let Steve Zink determine the right amount of coverage for you and your family.
Life insurance is designed to provide your beneficiaries with a continuous stream of interest income for years to come. You will need to determine the number of years your beneficiaries will be dependent upon your income. Most companies allow you to lock in rates for 5, 10, 15, 20 or even 30 years (guarantee levels vary by age and state restrictions). While most clients choose to purchase a 20 year policy, a TermQuote® representative can assist you with determining the right coverage for you.
No. Not all companies require a health exam. Depeding on the company you apply with and the coverage amount desired, you may be required to take a brief paramedical exam. The paramedical exam typically consists of a small blood and urine sample. The exam is free and can be scheduled in your home or office, at your convenience. Most companies suggest that you fast for at least 8 hours prior to your scheduled exam, which usually takes less than 30 minutes.
YES! TermQuote® never sells your name, address or other personal information to others. You can feel secure in knowing that only TermQuote® and the insurance company you select have access to your information.
TermQuote® is independent of any insurance company. We provide an impartial selection of the safest and most competitively priced term life policies available to you. TermQuote® constantly monitors over 1,500 of America’s life insurance companies to make certain that we always offer the best values as well as the most financially sound options. TermQuote® only deals with companies receiving a rating of A or higher with A.M. Best. This guarantees you only the highest quality insurance companies you know and trust.
The first step in the process is to complete an application either over the phone or on paper. Paper applications can be emailed to you by your TermQuote® account executive. Once your application is completed, you may be contacted to schedule a health exam if it is required for the policy you are applying for. Then, the insurance company will begin looking through your application, exam results, and any medical records they decide to order from your physicians. Once the insurance company has made their approval decision, your TermQuote® agent will contact you and send the policy to you either through email or mail.
Since every policy is unique, they all require different amounts of time to get approved. Typically, policies take about 5 to 6 weeks from the time the exam is completed.
Please contact your TermQuote account executive if you are interested in a policy that does not require completing a medical exam.
Most people do qualify for temporary coverage while they are going through the application process. If you are interested in the temporary coverage, please contact your TermQuote® representative to find out if you qualify.