We are going to do our best to be efficient and thorough, as this is an important topic. Our goal with these guides, as always, is to support those in dire need of information, as well as support those who are just casually looking.
If there is anything we missed in this article that you would like added, please reach out and let us know so we can add it, promptly. We provide at least three articles per week to keep everything up to date and provide the best possible resources for you.
Protect With Insurance- From a Phoenix Life Insurance Company, to an American Company
Firstly, who are we at Protect With Insurance? Simply put, we’re an independent insurance brokerage firm with access to a plethora of A-rated life insurance companies. We simultaneously shop all of them to get you the best prices possible, depending upon your life insurance needs and the condition of your health.
When you provide your age, health, gender, height and weight, and the type of insurance policy you are looking for, we will shop every single company and life insurance product that we have access to. Based on these criteria, we will show you in our best complete guide what the best price options are. Then, you select your preferred choice.
Our humble beginning was solely as a Phoenix life insurance company, at our Mesa headquarters. Since our start, we established ourselves within Arizona as the best local life insurance resource for low cost, high quality (A Rated) “PURE” whole life insurance. Over time, we have improved our shopping algorithm and list of trusted partners, bringing even better prices and more options to our clients. This has opened up new opportunities, as demand for our services has pulled us toward the West and East Coast. We now provide service in most states within the USA, and plan to serve clients in all 50 states, by the end of 2020.
Life Insurance Death Benefits
Life insurance death benefits come into play when your beneficiary receives a check from the insurance company. You determine what that check size is going to be when you purchase the policy. If you purchase a $20,000 policy, that’s what your beneficiaries would receive. Whole life insurance typically goes up to $40,000. If you want to get a bigger insurance policy, it will likely be a Term Policy, assuming you qualify for it. Term policies typically provide coverage for $100,000 – $500,000 and can go into the millions, for a pric
Generally, the higher amount of coverage, the more the policy is going to cost. However, sometimes a $20,000 Whole Life policy is going to cost more than a $200,000 Term policy. It depends upon your health, build and age.
Click photo to learn more.
The other part of life insurance is the living benefits. Living Benefits can possibly include discounts on your prescription medicines or on vision, dental, hearing aid, batteries, contacts, glasses, and attorney fees. Also, a more common living benefits package includes the following: If you get a severe diagnosis from a doctor, such as a critical, chronic, or terminal condition, living benefits could include the insurance company providing money while you’re alive. Click photo to learn more.
Life Insurance Company Options In Phoenix, Arizona
There are two general ways to approach getting life insurance if you’re in Phoenix, Arizona. You can deal directly with an insurance company or use a broker to find an insurance company that would best serve your needs.
Life Insurance Companies
The first option is to call an insurance company directly. They will usually assign you an exclusive-captive agent that only works for them, which means they don’t want you to look anywhere else. You talk to the assigned agent. The agent sets you up with the policy.
That’s one way to do it. However, you’re not going to be able to see what the other options are. You can’t shop for a better deal if you’re only looking at what one company has to offer. Click photo to learn more.
A better way to go about getting a life insurance policy is to connect with an independent brokerage insurance company that’s going to shop for you. They will look at numerous insurance companies to get you the best price and deal. They should have access to A-rated companies because you want to be with an A-rated company.
A-rated companies are companies that are financially solvent, companies that not going to go anywhere. They’re not going to go bankrupt. You don’t need to worry about them and they’re going to pay when they say they’re going to pay. You are going to want to connect with a good, solid, independent brokerage that’s going to provide access for you and exemplary service.
An independent brokerage firm will assign you an agent and that agent will do the shopping, looking for the best coverage possible for you that meets your needs, health and age criteria. Further, if for some reason you feel like you don’t trust that agent or your expectations are not being met, you could just go to a different life insurance company. Hopefully, that won’t be an issue for you. As far as the shopping goes, that agent and that agency are going to do all the heavy lifting for you. If you ask them to, they can email you the entire list of the life insurance companies they are looking at so that you know you are truly getting access to a a number of companies and what they have to offer.
You also need to understand there are agents out there that will tell you they are an independent broker and that they have access to all these companies. Then they only shop one company for you.
Not only is it unethical but it’s technically illegal. They are required to be honest
with you. Knowing this, you want that agent to prove they are doing their job. You want them to tell you the prices based on your health, age, etc. You want to know what you qualify for and your options. Click photos to learn more.
Make them prove they are working in your best interest. They should be earning your business. You’re the one that’s paying them. You’re the client. You’re the customer. Don’t be embarrassed to ask for what you need to know. Insist they email you all the results so you could see what they are looking at.
If you’re meeting with them in person, do the same thing. You want to know what companies they are shopping. You want to know all your options. Then you can go through it yourself.
They should be able to provide you with a list of at least half-a-dozen life insurance companies.
Best Way To Get A Quote
Obviously you can get a price from your agent. However, at Protect With Insurance we provide all of those resources for you, making it easy to price-out policies without having to use a specific life insurance company. You can go to our website at any time and you can click on one of the free quote buttons.
You can pull up a quote right then and there. If you go to our services tab, you can choose from the many different types of life insurance policies that we provide. The default button that you click on is going to give you a final expense on Burial Insurance, any kind of Whole Life Insurance that’s Level-Traditional Whole-Life Insurance and Term insurance. We will present a quote for you for every type of policy. You can do that on your computer without having to pick up the phone.
Of course, you can just give us a call. We can help you just as quickly over the phone as well. Usually, a quote takes three minutes on the phone. We can answer all your questions and explain all your options directly. Click photo to learn more.
Different Types of Life Insurance
There are different types of life insurance to consider that apply in Phoenix, AZ as well as the entire country.
There’s Term Life Insurance, which technically expires regardless of what agents or life insurance companies say. It has a term. It expires. That’s why they call it Term Life Insurance.
It goes for a period of time and then it’s done. A lot of those term policies can be continued and extended but the price is going to drastically go up. That’s the part that’s being missed. A lot of agents don’t dig into that.
For these Term Policies, there are Return of Premium options available. It costs more to get this but if you get a Term Insurance Policy with Return of Premium, at the end of your term (usually it’s 30 years), you get your premium back. Every penny you’ve paid in the policy comes back to you. However, you have to keep the policy for the full duration of the term. Click photo to learn more.
Term Related Mortgage Protection
Term Related Mortgage Protection is a type of policy that falls under the life insurance umbrella. It’s Term, but it’s built from the floor up to take care of your mortgage. Let’s say you have a $234,000 mortgage. It’s a life insurance policy for you but upon your death, it’s going to take care of that mortgage. It still comes in the form of a lump sum payment. It still is a check that goes to your beneficiary but again, it’s built by the amount and the value of the policy to take care of the mortgage. Click photo to learn more.
Whole Life Insurance
Whole Life Insurance has numerous names: Whole Life Insurance, Final Expense Burial Insurance and Burial Insurance for Seniors. These are all basically the same thing.
This type of life insurance does not require a medical exam. It never expires. Price never changes. They’re locked. These policies are ideal for anyone that is over 50-years-old because it’s the last insurance you’ll ever need. Click photo to learn more.
Universal Life Insurance
Universal Life Insurance is a Whole Life Insurance policy but you have to be very healthy to get these. They usually require a medical exam. These types of policies are going to increase in costs as you get older.
They also increase in benefit and swell in cash value. The face amount usually gets bigger as the cost continues to rise. The reason why people get these type policies is because with Universal Whole Life Insurance, you can tap into it as you get older. They can become quite large in terms of the benefits of the policy.
Very few people get Universal Life Insurance because they can get really expensive. When you have these policies for about 20 years, when you start to actually need it 20 or 30 years later after you start the policy, the price just goes through the roof. Click photo to learn more.
Accidental Only Life Insurance
Accidental Only Life Insurance is an affordable policy for people seeking some type of insurance for their lives.
Just like with Term Insurance, you can get these traditional Accidental Only Policies, or, you can get a return of your premium on the Accidental Life Insurance Policy at age 70, 75 or 80, depending upon the policy and its provider. The aforementioned ages will be the year when they give you all your money back. With most of these type policies that we work with, it’s age 75.
You have to be under the age of 50 to get a Return of Premium Policy. Otherwise you can get a traditional Accident Only Policy. They’re very cheap. It is the least expensive kind of life insurance available. If you’re on a tight budget, it’s a great way to provide some extra coverage for your family without breaking the bank.
We hope this has been helpful. The bottom line is that a recent nationwide study determined that 90 percent of those polled feel that they are not properly covered by life insurance.
They feel it’s incredibly important to have some kind of life insurance coverage. They feel that they should have more and that they need to understand it better. That is the reason for this resource. Please let us know what else you’d like to see.