There is no "one size fits all" type of life insurance plan. What is best for one may not be right for another. Our experienced Advisors can help you determine what is the best fit for you based on your unique circumstances and then will shop the market to find you the best value.
This will often depend what you are trying to protect. Most people are attempting to replace all or part of their income should they pass away. Others want to pay off the mortgage and provide for their children's future college education costs. Our expert advisors can help you determine the appropriate amount of coverage for your individual circumstances and objectives.
There are many factors that go into determining your rating class and thus your premium. They include your medical history, family history, build, tobacco use, avocations, driving record, foreign travel and personal financial information. In most cases the insurance company will also consider the results from a medical exam which they will ask you to complete at their expense.
Absolutely not. Life insurance companies often attempt to carve out a niche - accepting certain types of risks at a better rating class than others. Diabetes, tobacco use, aviation activity, build, and cholesterol problems are just a few of the areas in which a company may specialize. Our advisors are experts at finding the company that will give you the best price for your specific circumstances.
At Itech, we complete the application process over the phone, by internet and email at your convenience. No salesman will need to come to your home and intrude upon your privacy.
It depends on your age and the amount of coverage. Some companies do not require a medical exam in many circumstances, but they also sometimes charge a bit more for the coverage than others that do.
Conditional coverage is available within certain benefit amount limits. To obtain this coverage you must make a premium payment with the application. This coverage is contingent upon whether you would have qualified for the coverage. For example, if you have cancer and ask for conditional coverage on the application, no claim would be paid if you die while it is being considered because you would be rejected for coverage.
That depends on the type of policy. Most policies have a time period in which the premium is guaranteed not to increase. It can vary from one year to a lifetime. When buying a policy, it is very important to understand how long the premium is guaranteed not to change and how much it can change when that time period ends.
Most all policies allow monthly, quarterly, semi-annual or annual payments Monthly payments must usually be made by automatic withdrawal from a checking account. There is an interest charge if payment is made by any mode other than annual. The APR can range from 8 to 15 percent.
It depends on the insurance company. All payments are made to the insurance, not ITECH, so we do not control this option. Some companies allow it for initial payments, but not ongoing payments. Some allow it any time while others not at all.
There are two reasons why a death claim could be invalid (not counting the possibility that an insured is still alive).
First is that the circumstances of death fall under an exclusion. An exclusion is a clause in an insurance contract which stipulates circumstances which are not covered. For instance, a policy might exclude death while piloting a plane. With this exclusion, if the insured dies while piloting a private plane, the company would not pay the beneficiary.
The second reason is that some fraud or misrepresentation was committed in the application for insurance. Perhaps the applicant concealed the knowledge of a serious health problem. Even if the applicant commits fraud, however, the insurance company must catch the misrepresentation before the contestability period ends, and the fraud must be a material misrepresentation.
* These data are based on the ACLI tabulations of NAIC data from 2007.