Choosing a term
Enrolling in a
term life plan
Will I find better
rates for a given term life policy if I
No. Making sure to compare
apples and apples (age, area, health
status, etc), you will get the best
term life rate
for a given plan right here when you run
your term life insurance quote.
The carriers do not offer discounts to
certain agents or quoting services so
you can feel confident that the best
rates are here at one site across
multiple carriers and plans.
Do you charge any fee for your
No. Independent agents like us
receive a commission from the carrier
similar to travel agents. This
commission is the same for all agents so
there's no reason to go somewhere else.
This commission allows us to provide
cutting edge quoting and membership
capabilities but at absolutely no cost
Why should I go through
Etermlifeinsurancquote.com versus a
local agent or another online quoting
If the rates are all all the same,
why not take advantage of our quoting
engine which combs the major life
carriers and plans and narrows it down
to the best priced and most
life plans that meet your
requirements. Take a look at our
article database. Read
through some of the articles and you'll
quickly realize that not only do we
bring a wealth of experience and
guidance to empower you, but our
information is clearly about giving you
the edge when choosing your life plan.
Take a spin and you'll realize we're
trying to help you...not ourselves.
Will you help me after I'm accepted
and enrolled on a term life plan?
Of course. We're with you
through the life of the policy.
Not only can we help with choosing a
plan and enrollment, but we're also here
for membership issues that arise later
on. Probably the biggest one is
re-evaluating your chosen plan and life
insurance needs to make sure you're well
taken care of at the best possible term
Are you impartial in helping with the
term life process?
This is probably the most important
benefit we bring. You'll feel it
throughout the site and our extensive
term life articles.
So often, the biggest key to any
purchase is the ability to know the
company is acting in your best
interests...as if you were them.
We are independent agents...not captured
agents. If we just wanted to
increase commissions, we would be
offering whole life. You'll see
that's definitely not our take because
we don't feel it makes sense. You
are in the driver seat. We just
gave you a brand new race car and we're
happy with whatever plan and rate that
car takes you to.
Choosing a term
How do I compare whole
and term life insurance?
We probably have 3-4
term and investing,
etc) on this site dealing with this
comparison. The condensed version
is that it's hard to justify the much
higher premium for whole life insurance
for what you get. If you get life
insurance for your entire life...you're
going to pay dearly for it. It's
like a health plan that has zero
deductible and no out of pocket.
It sounds great but you'll pay so much
to have it that it doesn't make sense.
That's not insurance.
How much term life
coverage is enough?
Think of term
life as a way to replace income over a
long period of time. This is a
good start to getting to an answer for
this question. We recommend that
you read our "how
much term life" articles and
also take a spin at the
Term Life Planner
tool that we have provided in that
order. This should give a great
deal of guidance (which is our job after
What's important when comparing
Can they pay? It's that
simple. We want strong
agency ratings for the
carriers and based on this, we have
narrowed down the options quoted on our
site to the strongest and
best-positioned carriers on the term
life insurance market. You'll also
find the three major rating agencies
next to each plan to further help in
How do I know what Health Class I should
This is probably one of the tougher
questions as it's a term that's specific
to life insurance. We have more in
depth information at our
Term life health
class article. This
page will break down the major
categories that life companies consider
when underwriting a policy.
What impact will smoking have on
qualification and rates?
It will increase your rates.
The life insurance companies usually
require that a person be smoke free for
a period of time (1 year to 3 years on
average) before they will offer a better
rate. We discuss more detail at
insurance and smoking
article. Some carriers
might be more flexible and we're happy
to help you narrow the options.
The online quoting tool automatically
takes into account smoking when it
provides the best rates.
What if I'm in poor health?
First, take a look at our
article since it's pretty amazing how
many people can qualify for some
underwritten coverage. If not,
or no medical life insurance provides a
back-up option although, at a higher
cost. Let us know about your
situation and we can use our experience
to provide guidance as to which way to
Should I replace my existing term life
There are many variables to evaluate
with this question. It's mainly a
question of cost per dollar of coverage.
On one hand, term life rates have
dropped significantly but there's a cost
to applying at a higher age.
There's also the question of whole life
versus term life plans. This is
really where a licensed term life
insurance agent life us becomes crucial.
Check out our
life insurance article to
term life plan
Once I submit my application, then
We'll go through the paperwork to
make sure there's nothing that will slow
it down. We'll quickly submit it
to underwriting. The life
will either set-up a phone interview
and/or a paramedical exam. The
paramedical exam company will arrange a
time and place (they typically come to
you) with you for the exam.
We are now in the underwriting process
which we help with during the entire
process. The carrier will then
either make an offer for coverage or
defer/decline coverage. We can
help with your options at this point as
What's involved with the Paramedical
The life insurance paramedical exam
is a good part of the application and
enrollment process for term life
insurance. We give more detail at
paramedical exam article, but
essentially it usually consists of a
blood panel, basic measurements
(height/weight, blood pressure, etc) and
a medical history/status interview.
The exam is mobile so they come to you
at a time and place of your choosing.
It usually takes around 20-30 minutes
and can work around your schedule.
Do I submit money with my term life
We strongly recommend you submit the
first premium with your application as
it has a bearing on when the
coverage effective date
begins. If payment is submitted,
you may have temporary conditional
coverage if the application is
ultimately accepted and coverage is
offered. Otherwise, it can push
the effective date out further.
Unfortunately, we have seen situations
(anything can happen if you do enough
policies) where applicants have passed
away during the underwriting process and
did not submit payment. There's no
downside since you have a 10 day free
look period to request cancellation from
when the carrier gives written
notification for a full refund.
Is there a discount for certain payment
Generally speaking, you will pay a
slight bit more for a shorter payment
period (i.e. monthly is more expensive
than quarterly which is more expensive
than annually). Each carrier with
have their own payment options.
insurance rates have dropped
so much that it might not make a such a
difference in your choice. You can
check with us during the enrollment and
application process to go over the
options and cost.
How long does the application process
The paramedical exam is usually
scheduled 5-10 days after the
application is submitted and sometimes
faster depending on your schedule.
The paramedical exam is
subject to availability on both sides.
After this exam, we usually have an
answer back in another 7-10 business
days depending on the particular
carrier. All together, it's best
to assume 2-4 weeks to fully process.
This is why the conditional temporary
coverage and initial premium submittal
is so important.
What if I need to file a
should contact us. We'll walk you
through the process. When filing a
claim, especially during the
period after losing a loved one, it's
critical to have a trusted guide.
Most carriers require two documents: 1)
proof of death such as a death
certificate of physician statement; and
2) a claimant's form...essentially the
form that the beneficiary completes to
initiate the benefit process.
Again, this is the time to use our
valuable experience during a very
Will etermlifeinsurancequote.com help
me after the enrollment?
Of course. We're not just here
to choose and enroll in an
life insurance plan...but
we're with you for the life of the
policy. Feel free to contact us
about changes to policy information such
as beneficiaries, addresses, etc.
More importantly, we're here to review
your term life rates and amounts to make
sure you have the best deal on the
market. Things changes (especially
in this market) and the trend has been
down so you can always come to us for an
impartial evaluation of your life
What are the different payment options?
Most carriers offer standard
billings, auto-deductions from a
checking account, and the advent of
payment by credit cards may be
approaching. You can usually
choose an annual payment, bi-annual,
quarterly, or monthly payment. We
recommend the auto-deduction only
because it has the lowest lapse ratio
compared to a standard mailed billing.
Addresses change and due to the
infrequent billing of an annual term
life premium, it may miss you.
Auto-deduction avoids this issue.
Can my term life insurance policy be
cancelled due to health issues?
Term life insurance plans quoted on
the site are Guaranteed Renewable.
This means it can only cancel due to
non-payment of premium. There is a
Clause which comes into play
the first two years of the policy if
there was fraud of misrepresentation
during the application/enrollment
process. We address this and more
at our Things not to do on the term life
After my term runs up, what will the
cost be and can I renew?
Term life companies may offer the
ability to buy more term coverage when
the term ends but the cost will be
higher as it's based on the age at that
time. Age is the leading driver of
term life rates. This is why it's
important to plan and purchase the
correct amount of term and length of
term up front while you have lower rates
based on a younger age. We are
here to help analyze your life insurance
needs and find the cheapest way to
safely address them.