| What
is "level term" life insurance? |
An insurance policy where the
death benefit and premiums remain level for a specified period
of time (1-30 years). The policy does not build any cash
value, has a finite coverage period, and pays a specified death
benefit. |
| What
does "guaranteed renewable and convertible" mean? |
The policy can be renewed annually
after the original coverage period up to a specified age, or
can be converted to a permanent policy without a medical examination.
The specifics of this will differ with each company and plan.
call ConsumerQuote USA with any questions
. |
| How
long does the entire process take? |
Average time is 6-8 weeks, although
it varies with every person. The process will move much
quicker if you follow the provided guidelines and return all
requested information promptly. If action is not taken
promptly, the process takes longer. |
| What
is the difference between "preferred" and "standard" rates?
|
Companies use underwriting classifications
in order to determine your final rates. (See Underwriting
Explained). Preferred plus is for a healthy individual
that poses little or no risk to the company while standard rates
are given to those individuals with moderate health problems
or other factors. ConsumerQuote USA makes sure that all
clients are placed with the appropriate company to receive the
best possible rates. There is more to a quote than just
the price! |
| How
long do I need to quit smoking to receive the non-smoker rates?
|
To qualify for non-smoker rates
you need to be free from use for at least 1 year. Each
company has different requirements and some go as long as 7
years back. ConsumerQuote USA works to match you with
a company that is most compatible to your situation.
|
| Is
a medical examination required? |
A simple medical examination
is required for most term life policies that ConsumerQuote USA
sells. This is a short (15 to 20 minutes) exam paid for
by the insurance company and conducted at your convenience.
It normally involves blood and/or urine tests, a blood pressure
reading, a general physical examination and some medical history
questions. Please let us know if this is a problem.
|
| Is
ConsumerQuote USA licensed in my state? |
ConsumerQuote USA is licensed in most
states. For a complete
listing visit our licensing page. |
| When
does my insurance coverage begin? |
The insurance coverage begins
when you accept the policy and pay the premium. Conditional
coverage is available. See below or call for details.
|
What
is "conditional coverage"?
|
Conditional coverage can be temporary
insurance coverage provided while the policy is being underwritten.
Requirements include: a signed application, payment, and generally
good health. (Some insurance companies may have additional requirements.
Each companies conditional receipt varies. Check the terms of
the conditional receipt). |
| What
payment options do I have? |
ConsumerQuote USA always quotes
annual premiums. Insurance companies do offer modal payments
on a semi-annual, quarterly, or monthly basis for a slightly
higher rate. (Monthly premiums are available on an automatic
withdrawal basis only.) |
