|  |  | | | | | Just what is life insurance and how can it help you? Read below for a list of commonly asked questions about life insurance policies. | | | | | What are life insurance policies? | | Life insurance policies are contracts you establish with an insurance company that provide for a specific payment to be made to a designated beneficiary in the event of your death. Life insurance policies may have specific exclusions, limitations, reductions of benefits, and terms that will be made clear at the time of your application.
Why do I need a life insurance policy?
Life insurance policies help provide financial protection for your loved ones in the event that something should happen to you. Your survivors will have financial assistance to help pay their mortgage, paying debts, finance college, start a nest egg, etc. Some life insurance policies have a cash value which can help you start building a strong, diversified financial plan.
What are the different kinds of life insurance policies?
SBLI USA offers the two basic types of life insurance policies: Term Life and Whole Life. Each offers its own set of advantages. Read here to learn more about the difference between Term and Whole Life insurance policies.
How much life insurance should I get?
How much life insurance coverage you should get depends a lot on your age, your life stage and, most importantly, on how much your family will need in your absence. A general rule that many people follow is to buy a life insurance policy equal to five to seven times your annual gross income. For help figuring out how much life insurance coverage you may need, check out our handy calculator page.
Are there any life insurance policies available that do not require a medical exam?
Generally no medical exam is required for our Simple Issue Term policy*. To apply, just answer a few health questions. Simple Term Life offers up to $150,000 worth of term life coverage, with premiums that stay level for 10 years. See our no medical exam FAQ and Products sections for more information.
I am not quite ready to apply yet. Does SBLI USA offer free life insurance quotes?
Yes. SBLI USA's free life insurance online quote gives you an estimate on costs and is based on your answers to a few simple questions. To speak with someone in person, contact a friendly Sales Advisor. Your actual rates may differ based on medical information obtained during underwriting.
I am interested in purchasing a life insurance policy. What is the first step?
Securing your financial future is simple and quick. The fastest and easiest way to get started is to call one of our Sales Advisors toll free at 1-866-SUSA-WEB. They will help determine what type of life insurance policy and coverage will work best for you and your family. You can also request a free life insurance quote online or fill out our convenient Help Me Choose form. | | | | Back | | | | * Based on the answers given to the application questions, proof of insurability may be required. | | | |
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