Term life online quote  -   Temporary life insurance

temporary life insurance for those quick needs

 

 

There are two general needs people have when they want "temporary life insurance".

 

Common needs for short term:

• Waiting for underwriting on fully underwritten life insurance
• Cover specific and short periods of times

 

We'll look at both of them.

 

You can quote coverage for either here:

 

The first need will be embedded in the full enrollment process for standard life insurance.

 

It's probably best to speak with an expert advisor at 800-710-0455 or by email since the bigger policy is more important.

Let's look at both options.

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Temporary term life or short term life for a specific need

 

This is pretty common. 

Usually, it just means a short duration need.

 

 Here are some common examples:

• Finish off remainder of mortgage
• College completion
• During divorce or other legal proceedings
• Relating to business contracts with key person

 

The potential list of temporary life needs are as numerous as there are people.

 

Usually, a quick amount of 5 year term fits the bill.

 

5 year term is generally the smallest amount of term.

 

You can even get this with no medical exam to turn it around pretty up to $500K.

 

Quote the temporary life insurance plans and rates here.

 

You can focus more on cost with this short duration unless you have health or lifestyle considerations.

Let us help in that case since we can save you quite a bit with some guidance up front.

 

No medical exam works best here since the turn around is so fast compared to standard coverage.

 

You can quote those plans as well here:

 

 

Let's look at the other use of temporary coverage.

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Temporary life while in underwriting

 

An interesting part of the life insurance enrollment process is the securing of temporary life insurance while in process.

 

Having some type of protection immediately goes a long way towards the peace of mind that you are purchasing through life insurance.

 

Let's look a little closer at how temporary life insurance works.

 

The effective date is an important part of the life insurance enrollment process for many reasons.

Of course the biggest impact is that it dictates when you are actually covered for protection.

 

Most people may think "What does it matter...now or a few weeks from now".

 

Unfortunately, we have seen situations where it does matter and the result can be catastrophic especially in light of the fact that the insured person was in process to purchase life insurance.

 

It's almost depressing in such a situation which is why we recommend our clients to enact the temporary life insurance featured offered by most carriers.

 

So what's involved?

 

First, it's different from carrier to carrier but let's look at some common elements of temporary life insurance.

 

There's usually a quick medical questionnaire to address the more serious health issues that might prevent you from qualifying even for temporary life insurance.

 

The amounts allowed are usually capped at a certain amount.

 

It may be less than the full policy that you are applying for or there may just be a hard cap on the amount which you can receive temporary life for.

 

For example, if you're applying for $1M in life benefit, temporary life may not be available.

 

The life policy effective date is usually the signature date on the temporary life insurance application and agreement.

 

This may be different from the full life insurance application date.

 

There's also commonly a stop date during which this temporary life exists.

 

This means that if the stop date is 90 day maximum, the coverage will not extend beyond 90 days after the effective date.

 

Again, this is meant as a temporary life insurance benefit just to cover you while you're in underwriting for the full policy.

 

It's not designed to go beyond that point.

 

It's also not in addition to your underwritten policy and/or other life insurance benefits.

 

This means they will subtract other policy benefits due to you from the total amount of temporary life insurance for which you apply.

 

If you are approved for your fully underwritten life insurance policy, that policy will generally replace the temporary life insurance policy and premiums paid will be applied to the fully insured policy on a pro-rated basis.

 

Standard clauses such as mis-representation, fraud, and suicide are usually contained in the temporary life application and agreement.

 

Payment is an important part of the life insurance contract and temporary life is no different.

 

Some applicants will submit their completed application but no payment if allowed by the carrier. This usually means that the proposed insured is not protected during the underwriting process.

 

The underwriting process can take weeks if not months so we strongly recommend that you submit payment with your life insurance application.

 

You have at least a 10 day free look period from when the carrier delivers a policy to you to can cancel the policy never effective for a full refund so there's no reason not to.

 

You never want to be in that situation where the unforeseen happens and you pass away during the underwriting process without the protection of temporary life insurance.

 

As a good life insurance agent, we can't let you take this un-needed risk at 800-710-0455 or by email. 

 

Of course we're happy to help you find the best rate and option for YOUR health status:

 

 

You can run your Temporary or Short Term Life Quote to view rates and plans

 

Again, there is absolutely no cost to you for our services.  Call 800-710-0455 Today!