Part of understanding is knowing. We have put together key words that may aid you through your shopping experience. If you have further questions feel free to place your inquiries on our Contact Us page.
Q: What is life insurance? A:
A Life Insurance policy is a contract that guarantees to pay the specific amount of money you selected to your family to help supplement their finances in the event of an unplanned tragedy. When you purchase your policy, you will enter into a contract that promises to provide your beneficiary(ies) with money upon your death.
While your policy is in force, you will make payments (premiums) to the insurance company. In exchange for your payments, this contract provides money to the person(s) designated to receive the insurance benefits in the event you die. The amount of your premium will be based upon the benefit amount of insurance you selected at the time the policy was issued, your age, gender, occupation, medical history, and the guaranteed period of time your policy will be in effect. Most policies require a medical exam, which generally includes the collection of a blood and urine sample along with height/weight measurements, blood pressure readings and several health questions. It is usually completed within thirty minutes, and can often be conveniently performed at your home or office.
Q: Do I need life insurance? A:
Yes! Whether you're married or single; are retired or beginning your career; have children or are planning starting a family, the perfect time to purchase Life Insurance is right now. It's important to remember that the younger you are when you make your purchase, generally the less expensive it will be.
If you're married and you and your spouse both work, imagine the loss of one just one of your incomes. How much of an impact would this have on the family's financial peace of mind? If you have children, would the family be able to continue living in their home? Would there be enough financial resources to provide for their continuing education and college?
Life Insurance helps you to maintain your family's household, and provides the resources to meet your obligations, such as your car loan, mortgage payments, household bills, dependents care and more. Your Life Insurance policy can be tailored to fit your specific needs and has the flexibility to respond to changes as your circumstances may require. So this answer is a resounding YES! Virtually everyone needs Life Insurance.
Q: How is Term Life Insurance different from other types of Life Insurance? A:
Term Life Insurance gives most policyholders the most life insurance at the most affordable rates. Policies can be tailored and purchased providing for a specific period of time, ranging from one to thirty years. In the event an insured individual passes on within the specified period and premiums have been paid, the policy will pay a specified death benefit. And since the insurance is for specific limited period and accrues no cash value, premiums tend to be lower.
Q: Will it cost me anything to obtain a quote?
A:
No! Spectrum Direct will not charge you anything to obtain a quote. You are under no obligation to buy anything.
Q: How is Spectrum Direct different from other online insurance quote sites?
A:
Spectrum Direct only works with experienced insurance professionals. They will personally contact you to discuss your needs and provide you with your free quote. The good news is that Spectrum Direct professional representatives are not limited to just a few companies, which means you'll get the appropriate coverage you need at very competitive prices from a top rated company! There is no pressuring you into a decision that isn't best for you. Shop for insurance and save - efficiently, safely and cost effectively.
Q:
Can I change my policy if I already have one?
A:
Yes. You can replace your Life Insurance policy at any time, but there are many factors to consider prior to making that decision. Our goal is to help you make the best choices for your unique needs. It's a good idea to review your life insurance program on a regular basis. Your specific life insurance needs change with life events such as the birth of a child, marriage, home purchase, etc. Spectrum Direct can help with reviewing your existing coverage and creating the plan that suits your current life situation.
Nearly half of the United States is underinsured. Many people who had Life Insurance and experienced the loss of a family member later realized they just didn't have enough insurance to meet their financial needs. So don't cancel your coverage! Have a Spectrum Direct professional representative review your insurance program and help you make sure you have the right amount of coverage to meet your family's needs.
Q:
Why do I receive different quote amounts from every company? Isn't Life Insurance basically the same?
A:
Insurance companies do extensive analysis on life expectancy based on a large number of factors. Every company develops their rates based on their own analysis and business requirements. Like any product there will be variations in price. That's where Spectrum Direct delivers value. Spectrum Direct prides itself on providing the best coverage at the best prices available on the Internet!
Q:
Will I need a medical exam to qualify?
A:
In most cases, you will need a medical exam to qualify for your Term Life Insurance policy. When you speak with an insurance representative, she or he will inform you if you need one.
Q:
When will my coverage begin?
A:
Your Life Insurance policy will not be in effect until it is approved and your first premium has been paid. Most companies will provide temporary coverage, referred to as a binder, while your application is being approved.
It is important to remember that if you are replacing existing coverage, you should never drop your existing coverage until your new policy has been approved and your first premium has been paid. You will never want to be without coverage!
Q:
What can I do if I have any questions?
A:
If you are requiring any assistance with Spectrum Direct or if you have any questions, you may visit our contact us page for help. We are here to assist you with your Term Life Insurance purchase.
