How Do I Buy Term Life Insurance?


 How Do I Buy Term Life Insurance?: The process of buying term life insurance varies depending on what company or broker you use. In general, you’d start by shopping around for a term insurance policy that fits your needs. Once you’ve narrowed it down to the policy you want, you’d contact the company or insurance agent, or broker to start the application process.

You’ll need to provide basic information, like your name, address, marital status, gender, and age, as well as pertinent medical history, including existing health conditions. A medical exam may be required as well. Once approved, you can sign your policy documents and start making premium payments.

What Riders Are Available with Term Life Insurance?

According to the California Department of Insurance, a rider is an add-on coverage option you can purchase to enhance your policy. Here are a few common life insurance riders:

Accelerated benefit: You can get a portion of the death benefit early if the policyholder is diagnosed with a terminal illness or is confined to a nursing home.

Accidental death benefit: This pays an additional benefit if the policyholder dies because of an accident.

Guaranteed insurability: This lets the policyholder buy additional life insurance coverage without having to provide new evidence of insurability.

Post a Comment

Previous Post Next Post