What is fully underwritten term life insurance?
Fully underwritten term life insurance provides coverage for a specific period of time (typically between 10 and 30 years).
With this type of policy, your insurance company pays a benefit to your beneficiaries if you pass away during that period of time.
Who needs fully underwritten term life insurance?
Fully underwritten term life insurance policies are a great option for homeowners and people who have started or plan to start a family.
And because these policies are temporary and fully underwritten (meaning you must pass a medical exam), they tend to have higher coverage amounts than other types of life insurance.
How much do you need in life insurance coverage?
The answer is different for everyone, but take a look at some average expenses your family could be responsible for covering.
Your life insurance needs could be different, so always speak with a licensed insurance agent before making a purchasing decision.
Term life insurance policies may be less expensive than you think.
When asked to estimate the cost of a $250,000 term life insurance policy for a healthy, 30-year-old, the average guess was $500.
That’s more than 3 times the actual cost of $160 per year.4
- How does fully underwritten term life insurance differ from simplified issue term life insurance?
Both fully underwritten term life insurance policies and simplified issue term life insurance policies require you to answer some questions about your medical history as part of the application process. The key difference is that simplified issue term life policies do not require you to take a medical exam*, and fully underwritten term policies do. Simplified issue term life policies are usually more expensive per dollar of coverage in most cases.
- Why LifeInsurance.org?
We are committed to providing consumers with objective, easy-to-understand information that will arm them with the information they need to make informed decisions about their life insurance coverage. Whether you choose to browse our wealth of resources, or speak with one of our licensed insurance agents, you’ll walk away with more knowledge than when you started.
- Do I have to pay for your services?
No, the resources and guidance offered by LifeInsurance.org are completely free, and there is no obligation to purchase a policy.
- How do I get started?
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