Are you thinking about purchasing life insurance for yourself or a loved one but don't know where to start? Online life insurance has become increasingly popular over the past couple of years as customers now have access to multiple policy options, no matter their location. Shopping for and buying life insurance online can seem intimidating at first, but this post will outline how straightforward the process can be. William Schantz reviews key aspects that are important when shopping and compare coverage options so that you can make an educated decision while reaping the benefits of an easy-to-understand process!
Buying life insurance online is a straight forward process that could save you time and money, says William Schantz. To purchase life insurance online, you will need to complete the following steps:
1. Establish Your Needs: Before buying life insurance, it’s important to understand your needs. Think about why you are getting life insurance, who will be covered by the policy, how long you need coverage for, and how much coverage you want or need. This assessment should help guide your decision-making when choosing between the various policy options available online.
2. Research Insurance Companies & Their Policies: Once you have a solid idea of what type of policy best suits your needs, begin researching different insurers and their policies. Look at the company’s financial rating, customer reviews, and policy options. Compare the different terms, coverage amounts, and premiums to find an insurer that offers a suitable policy at an affordable price.
3. Fill Out An Application: After you have chosen a life insurance policy and applied online, you will need to fill out an application. You will be asked for personal information such as your name, address, date of birth, and Social Security number. If you are buying a term life insurance policy, you may also be asked questions about your lifestyle habits or medical history.
4. Undergo A Medical Exam And/Or Review Of Your Health History: Depending on the type of insurance you buy and the amount of coverage requested, some insurers may require a medical exam. The exam will typically include blood and urine tests, as well as questions about your health history. If you are buying a no-exam life insurance policy, insurers may conduct an expedited review of your health history to determine eligibility.
5. Agree To The Terms Of Your Policy: After you have provided the necessary information and been approved for coverage, you’ll need to agree to the terms of your policy before it can be finalized. According to William Schantz, this includes understanding what is included in the coverage and any exclusions or limitations on the policy. Once you have agreed to these terms and the premium has been paid, your insurance is active and ready to use should the need arise.
Buying life insurance online is a relatively easy process, as per William Schantz. With the right preparation and research, you can find an appropriate policy that fits your needs and budget. Having life insurance gives you peace of mind knowing that you are providing for those that depend on you in case of an unexpected death or illness.
