We make buying life insurance simple, straightforward and convenient. We're here to support you every step of the way through the basic process so that you'll be able to make informed decisions about protecting the long-term financial well being of your loved ones. Here are our most frequently asked customer questions, answered:
How much insurance you'll need depends on a lot of things. Here are just a few examples:
The size of your family and ages of your family members
The standard of living you'll want them to be able to maintain
Future expenses such as educational, health or mortgage costs
Final expenses likely incurred at the time of your death, including taxes, legal fees and funeral costs
Call one of our licensed agents today at 888-215-5310, or click here to request a quote online. It's important to note that quotes are simply an estimate of what you will be paying to be covered by a particular policy. Not until the medical exam is completed, verified and your final paperwork approved, will you know exactly what rate you'll ultimately be paying. This final rate is known as an underwritten rate.
TOP OF PAGECustomers in different rate classifications will be charged differently, based upon the health and lifestyle characteristics unique to each. And it is exactly this ability to more accurately assess the risk potential of each and every applicant up-front that allows respected carriers to be able to offer the most affordable and appropriate rates available to each applicant. Common rate classifications with various carriers include:
Premier
Preferred
Preferred Smoker
Standard
Standard Smoker
Substandard
So, in order to avoid the disappointment and frustration that comes with any sort of a "bait-and-switch" situation, it is in your best interest to bear this in mind when shopping for life insurance: The cheapest quote is not necessarily the best!
TOP OF PAGEFirst, congratulations! You've made a smart and responsible decision to protect the ones you love. The next step is simple: Pick up the phone and call us toll-free at 888-215-5310. You can also click here to request a quote online! A knowledgeable and friendly Matrix Direct insurance specialist will be there to assist you, every step of the way!
TOP OF PAGEThe beneficiary of your insurance policy is the person selected by you to receive the policy benefits upon your death. You may designate that the benefits from your policy be allocated to multiple beneficiaries. And you may change your beneficiary designations at any time.
The amount that the policy will pay to the insured's beneficiaries in the event of the death of the insured.
An individual who is currently covered under an existing life insurance policy.
Different term life insurance policies have different durations.
10, 15, 20, and 30-year term life insurance policies are very
common. A 10-year level term policy will have an initial 10 year
period in which premiums are level.
A payment to a life insurance company in exchange for a life insurance policy.
The frequency in which premiums are paid. Typically, total annual premium is slightly higher when payments are spread out over the course of the year as opposed to being paid all at once. For example, a policy with a $100 annual premium may also offer a $51 semiannual premium ($102 annual cost), a $26 quarterly premium ($104 annual cost) and a $9 monthly bank draft premium ($108 annual cost). Proposed Insured An individual who is applying for coverage under a life insurance policy. (see also: Insured)
Underwriting guidelines are the health and lifestyle criteria for the proposed insured that insurance companies use to determine the appropriate rate classification upon which to base the premiums for the coverage. These criteria typically include age, gender, tobacco use, height/weight build, family history of heart disease or cancer, cholesterol levels, blood pressure levels, specific health conditions, driving record, hazardous occupation or activities, military service, aviation, foreign travel or residency, U.S. citizenship and felony criminal activity. It is important that all of these underwriting guidelines are taken into consideration when evaluating any premiums quoted for life insurance coverage.