Life Insurance Online – The world has evolved tremendously over the years to bring us cheap solutions to things that before now caused us a great deal of stress. This solution, also cuts through the world of insurance, whereby you can now get life insurance online with the snap of a finger on your device be it at home, work or wherever life takes you.
Before the advent of online services, you needed to talk to an agent/salesman in order to get a quote, but gone are those days. As earlier stated, you are now at liberty to determine where, when, and how you want to get life insurance online with ease.
There are several companies offering affordable options online, Policygenius, Fabric, Haven Life etc., and some of them not need a medical exam for healthy applicants.
Who is Life Insurance Online For?
Life insurance online, is for millennials or those who are less than 50, who are relatively healthy, and have an idea of what exactly they need from an insurance perspective.
It is also for those who wish that their immediate family stays safe, provided for, protected and cared for even when they are no more.
How to Apply for Life Insurance Online
Basically, most online insurance companies, will require you to fill out an application answering a series of questions from a variety of categories that may include your health, your family’s health, your job as well as your lifestyle to help them search for what suits you.
With your consent, the company will search other sites for information including the prescriptions you’ve filled, checking your motor vehicle record for any driving violations, as well as bringing out the MIB Group’s records for any necessary information from health insurance applications.
After all the information have been collected, they are combined and plugged into a process known as “accelerated underwriting”, which replaces a human insurance agent with an algorithm that quickly calculates the likelihood of approval.
As the agent goes over your application, this process may span for 30 to 90 days. Howbeit, there’s an exception, as some sites offer quick results which helps you find out within minutes of submitting your application whether you’ve been approved or not.
Life Insurance Online Company Options
Here are some top-rated life insurance options for those who are shopping online:
Policygenius is an online insurance option for those who are looking for the lowest premiums or the highest coverage caps. This company is a third-party insurance broker, which helps in searching for you, sorting through all the necessary information from different companies to come up with the best and cheapest policy you need.
Bestow, is known for offering unique short-term plans, with the shortest beginning at just two years which is the easiest to qualify for. This is most beneficial to those in transitional phases like students, those on extended family leave, or anyone between jobs who wants to bridge that gap in coverage, but is not quite prepared to commit to a new long-term commitment.
With Bestow, no medical exam is needed and can be cancelled at any time
Plans start at $50,000, with competitive rates starting at just $5 per month. Howbeit, the coverage is capped at $1 million, which some high earners may not find fulfilling.
When it comes to approval, Bestow insures exclusively those between the ages of 21 and 55, thus everyone may not get a chance to be approved.
With Fabric, you have pared down options and a quick application process. It is an ideal site for families with young children and has made this known through it’s words, “responsible humans with kids,”. It’s longest term length offered is 20 years to correspond with the time your kids will be in the home. This plan ranges from $100,000 in coverage right up to 5 million.
Fabric’s policies, come with minimal riders, for the most part, even though it comes with some family-friendly finance tools. It includes help in creating free wills to help you name a guardian for your kids, and additionally a dashboard that makes financial account information, such as your IRA, 401(K), and banking information to your spouse. (Note, it is easily navigable, in the event where anything happens to either of you).
You can now go online, and get the life insurance quote you need.