Term Life Insurance
Term life insurance offers fast, easy and affordable financial protection for your loved ones.
What is Term Life Insurance and how does it work?
Term life insurance offers the easiest and most cost-effective coverage option by covering you for a set "time frame" (typically 10 to 30 years). During this time, your beneficiaries would receive a cash payment upon your passing.
Term life insurance might be suitable for you if:
What’s the difference between term and whole life insurance?
Understanding the different between Term Life and Whole Life Insurance plays a major role in choosing a policy.
Term Life Insurance
Term life insurance uses premiums to protect you for the policy's specified "term," which expires if not claimed within that duration. So if you pay your payments on time, your whole life insurance policy will last your entire life.
Term life insurance may be suitable for someone looking for cheap coverage to replace lost income during a critical period, such as raising children or paying off a mortgage.
-
We have established life insurance companies with more than 100 years of expertise backing our policies.
-
You can apply for coverage in two ways:
Fast Online Application
Personalized Phone Application
-
Fast Online Application
We partner with Ethos, who've shortened the application process to minutes.
-
Personalized Phone Application
We partner with PolicyGenius to bring you comparison shopping made easy and advice that puts you first.
Coverage You Can Trust
Both companies gives you the dependability of well-known insurers and the ease of modern technologies.
Simplified Issue or Fully Underwritten
We offer both simplified issue and fully underwritten term life insurance products. Learn about the difference and what it means for you.
Simplified Issue:
Most insurers are starting to use the simplified issue process, meaning the underwriting decisions are based entirely on third-party data and the applicant's answers to health questions. That is why there is no need for a medical exam. Instead, you get an approve or decline status of the application immediately.
Fully Underwritten:
Fully underwritten policies have been the industry standard for decades. It includes a complete application and medical exam. The cost of your policy is determined after all required items are received and reviewed by the insurer. The premium usually stays the same as quoted, but it could go up or down in price.
Simplified issue may be suitable for you if:
You're not sure if you'd be eligible for a fully underwritten policy
You want a straightforward process with no medical examinations or lab testing
You feared you couldn't purchase life insurance because of your age or health.
Fully underwritten policies may be suitable for you if:
You don't mind a longer application process
You want life insurance with a higher death benefit.
You're in good health.
FAQs
What does a policy cover?
It is ultimately up to your recipients to determine how to spend the money. People frequently buy life insurance to cover things like:
1. Lost income
2. Funeral costs
3. Home mortgages or rent
4. Loans and debt
5. Children's education
6. Living expenses
What is the claim and payout process?
It is usually straightforward for your beneficiaries to submit a claim and receive a cash payment. However, if you die while your coverage is active, your beneficiary files a claim with your insurance company (as specified in your policy paperwork), and the insurer pays out the death benefit.
Your beneficiary will get an untaxed lump-sum payment equal to the death benefit value of the policy. For example, if you buy $1 million in coverage, your beneficiary will get a tax-free lump sum payment of $1 million.
Is there a chance of a failed claim?
Insurers will deny a claim if underwriting determines that a death resulted from suicide during the first two years of the policy's start.
For any other reason for denial, the insurance company will provide substantial evidence to support their decision.
What will happen after my term is over?
You will have choices when your term ends if you do not die while it is still in effect:
1. You can apply to extend your time to ensure you always have coverage.
2. You can apply for a new policy with a new term length and coverage amounts
3. You can decide to reject a policy extension offer or not purchase a new policy
Have more questions?
Requests to submit an insurance application on www.mymesi.com will be made through the company's designated agent, Edwin Badu, only in states licensed and appointed. License numbers are available upon request and are automatically provided in states where required by law. Edwin Badu is licensed in 19 states, including New York and his resident state of Illinois, Edwin Badu’s Illinois license number is 18542624; in California, 4034236; in Massachusetts, 2109587; and in Texas, 2489902.
© Copyright 2024, MYMESI INC All rights reserved