Frequently Asked Questions
1. Why should I choose Free Life Term Quote?
Free Term Life Quote is an Independent Online Insurance Broker who is committed to providing the lowest cost pure life insurance possible to the American Consumer. We will not sell your information as many online sites do. Having your information sold to 6-8 Brokers who in turn call you and aggressively push their companies is less effective and a more challenging way to purchase life insurance. Having more Agents involved in the process can be confusing and frustrating; more is not always better. Our team of Agents will take time to listen to your needs and give guidance to help you meet your goals.
Access - We have access to hundreds of the top A rated Life insurance companies and continually monitor them to meet a stringent 5 criteria evaluation that ensures you will receive the best value for your hard earned Life Insurance dollar.
Expertise in Life Insurance - Our Licensed Agents understand the needs of the average family and have the knowledge and expertise to answer your questions and provide the needed guidance on how the process works and can best work for you.
Service - We are here to serve you and help you every step of the way. After we place you with a company we continue to monitor the process. If the medical examine would come back with unfavorable blood panel results we will shop the results with other companies to find the best savings or possibilities to meet your needs.
Accurate Quotes - our technology lifts us above the competition with years of experience and our exclusive online rate calculator. We take it one step further with our advanced Health Analyzer, asking specific questions that are known by our applicants prior to the medical exam. These questions are used by underwriters across the board to determine health classification. Prior to the medical exam our clients will know the classification they qualify for and the only change in that classification would be the result of the medical exam. When you receive a quote from Free Life Term Quote you will know it is as accurate as possible based on the information available. We don’t leave anything to chance.
2. What Criteria Do You Use In Determining What Companies To Represent?
We continually research hundreds of companies to bring you the Top A Rated Life Insurance
Companies. Free Term Life Quotes is actively engaged in evaluating five criterias to determine the best
company to place our clients with to give them the best value and price.
Our five areas we strongly research are:
1. Competitive Pricing - we take the top 50 most competitive priced companies that have an A- to A+ AM Best Financial Rating and begin our selection there.
2. Financial Stability- Our companies must have an A- to A + rating from AM Best (the most recognized insurance rating organizations} to meet our acceptable standards for our clients. AM Best will rate a companies based on Financial strength performance, claims paying ability, and integrity
3. Underwriting Specialization- We continually search within the above criteria for those companies that
bring a unique underwriting offer to the table such as:
Preferred rating for smokers,
No rate ups offering preferred rating for those who have elevated blood pressure that is being controlled.
Diabetes II competitively priced at standard rating for those who have control over their AC1 number.
Standard ratings for Cancer that have been in remissions for 3-5 years or more.
4. Customer Service - This is a true test of management and how committed they are to the customer and
their future. Since Life Insurance policies are taken out and the insured will normally have a long term relationship with the company we want to make sure their customer service is top notch. If a company is not concerned about how they service their customers today what does that tell you about their commitment to their future when our clients will need them most. If a company does not have a good telecommunication and support system as well as a strong internet presence we will not consider them for our clients and their future financial security.
5. Claims Paying Ability- We research to make sure our companies chosen have placed their long term
investments in secure investment vehicles to be able to pay future claims. The companies we select must
have other strong financial rating with Moody’s, Fitch Ratings and the Standard & Poor. Ratings are not
guaranteed and are subject to change.
Keeping our clients and their needs first and foremost has served us well as we are a nationwide leader in term life insurance satisfaction.
3. Can I Buy Insurance for Lesser Amount Directly From the Insurance Company?
Absolutely Not! All things being equal with a policy of the same features and benefits that policy must be offered at the same cost to all who apply. You are accepted based on your health classification or rating and charged according to pre-set quotes. State regulation of insurance companies will not allow charging one consumer a higher cost than another no matter what Agent, Agency or Broker you purchase the policy from to include direct company purchases.
4. Why is important to work with a company that uses Advanced Technology Underwriting - Health Analyzer?
Our comprehensive Health Analyzer software takes in all the known factors that determine a health classification. Factors include present monitoring of high blood pressure and cholesterol, height, weight, past family history of cancer, cardiology, diabetes and driving record. It is important to consult with a company who uses an advanced system to ensure you have the greatest probability of getting the quote you anticipate prior to having your medical examine reviewed by an underwriter. Expectations are only one reason to use the advanced analyzer program. If you select a company that has the best rate for preferred policies at a 20 year term, that same company may be the 15th best priced company for a standard and standard plus rating for the same level of term. If you would have selected the health classification that you would have qualified for from the beginning, you could have chosen the company that has the best rates for that classification and term length and saved money.
5. Term Life Insurance Comparison to Permanent Life Insurance
Permanent Insurance builds cash value from the early payments of the policy. The most common type of permanent policies is whole life and universal life where the insured person will receive benefit coverage for the term of their life or up to age 100-121. The over payments are placed into an investment vehicle that is designed to grow in value over time. It also allows you to borrow your cash value and the amount you borrow will be subtracted from the benefit amount. It is often looked at as a forced savings that is used to fund the increase in cost of life insurance inside the policy. In other words, as one ages and the mortality expense increases it can over take what the premium paid each month covers. If the investment vehicle has under preformed projections and the low guarantee becomes reality many policies can increase the monthly premium to fund the policy. Permanent insurance is expensive in comparison to term life policies.
Term Insurance does exactly what it indicates it will. Term Life Insurance provides coverage for a period of time 10, 15, 20, 30 year terms. It makes most sense for the average person because you can purchase the proper amount of coverage for your family because it is affordable during your working years where replacement of income is your major concern. Most term life policies can be converted prior to the age of 70 and are renewable up age 95-121. Term policies that are level will normally be a guaranteed premium plan for the life of the term selected. We only represent guaranteed term policies unless we something different is specifically requested by our client.
6. How do I apply?
We make the process very easy. Just fill out the information requested on the instant quote software form to include desired amount of coverage, health classification and other details. Engage Instant Quote Submit Button and you will receive up to 10 quotes from the leading companies competing for your business. Choose desired company by clicking on the Request Application button on the far right.
Go to the Health Analyzer and fill out a short questionnaire and then Submit. Your information will go directly to Free Life Term Quote and then one of our agents will call to confirm your information submitted. They will help identify your goals, prepare the information submitted as well as confirm that you have selected the correct health classification.
You will then be interfacing with our processing team who will finalize your application. They will help schedule your medical examine with a paramedical company. They will call you to schedule when the most convenient time would be to come out and do your examination. Normally the paramedical examine takes less than 30 minutes to fully complete. The sooner you complete the medical examine the faster your final underwriting results will be known. If there are no APS, Attending Physician Statements, requested from your doctor or specialist normal time periods from start to end is 4-6 weeks. Get Started now! http://www.freelifetermquote.com
