Life Insurance FAQ's

Can I buy life insurance coverage online without any phone calls?

Yes, in fact, there are insurers that offer the option for you to apply direct online for your life insurance policy.

It takes about 10-20 minutes to apply online, and once approved, you may start your life insurance coverage the very same day.

Make sure to answer all questions truthfully on the application for coverage.

And, there is a Free Look period which allows you to return your policy for a full refund if you are not satisfi...

Insurable Interest is required in order for someone to buy a life insurance policy on someone else.

It means you have a financial interest in that person and if the person should die, you would lose out financially.

For example, either you rely on the person for some means of financial support, or if the person should die, you would suffer a financial cost; such as, having to pay for the person's final expenses.

Insurable Interest usually exists between spouses, parents and their children, and b...

Yes, you may be able to buy a burial insurance policy on your aunt.

However, in order to purchase life insurance on someone else, you need an Insurable Interest in the person you wish to insure for life insurance.

If you rely on your aunt for some form of financial support, she owes you money, or you would suffer a financial loss upon her death, then you have an Insurable Interest in her, and you may purchase burial insurance on your aunt.

Learn about buying burial insurance on your aunt and how...

If you're considering term life insurance, there are some things you should know before making your purchase.

For instance, did you know that term life is temporary life insurance?

That's right. Which means, you may outlive your life insurance coverage.

And, term life offers several different "term" options so you can choose coverage to meet your specific needs; for example, coverage for a term of 10, 15, 20, 25 or 30 years.

The longer your policy term, the higher your annual cost of term life in...

What is the monthly cost for a term life insurance policy?

The quickest and easiest way for you to find out how much term life will cost you monthly is to compare term life insurance quotes online.

The price you pay for a term policy will depend on your age, gender and health. As well as, your occupation, hobbies, tobacco use, lifestyle, driving record, height-to-weight ratio and family health history.

In addition, the duration of your term life coverage (Term) and amount of life insurance will ...

Is there a way to get a life insurance policy without a waiting period?

Yes, most life insurers offer immediate coverage upon approval and receipt of your first month's premium.

However, some insurers even allow you to apply online for a policy and begin your life insurance coverage the same day, if you qualify.

That means, no waiting to take a medical exam, because there is no exam.

And, no waiting to get approved by the insurer because some insurers offer same day approval.

Also, these quick is...

Guaranteed approval life insurance is a type of insurance plan that guarantees your approval for coverage - even if you have health issues, or you have been denied coverage by other life insurers.

If you meet the age requirements for approval you are guaranteed acceptance.

And, there's no health examinations of health questions to answer

However, the amount of coverage available is usually limited to around $25,000.

Learn more about how a guaranteed issue life insurance policy works.