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Life insurance is essentially a contract between you and your life insurance company. You buy a certain amount of coverage, and if you die while your policy is in effect, your life insurance company pays out that amount to your beneficiary.

New to the process? Here’s what to expect:

• Shop. Typically, you’ll research different life insurance products and get life insurance policy quotes to decide which is the best fit. eFinancial lets you compare options from top-rated companies, and our team is here to walk you through the application process.
• Buy. Once you’re approved, you’ll make regular premium payments to keep your policy active. It’s also a good idea to review your policy regularly to make sure it’s meeting your needs.
• Breathe easy. If anything happens to you during the policy, life insurance offers peace of mind by providing your loved ones with a cash payout.

Learn more about how life insurance works here, or give one of our dedicated agents a call.

The right kind of life insurance policy is different for everyone. When you shop for a policy, consider your budget, needs, and long-term goals. For many people, term life insurance is the ideal choice because it’s flexible and affordable. With term life, you can choose a term length of 10 to 30 years, and you can specify the coverage amount.

In some cases, though, permanent life insurance may be the right choice. It offers lifelong protection, builds cash value over time, and comes in several different options, like:

• Whole life insurance: With this kind of policy, your premium and death benefit will stay the same throughout the life of your policy, while your cash value grows at a guaranteed rate.
• Universal life insurance: With universal life insurance policies, the insurance company may set minimum and maximum premium amounts so you can have greater flexibility. With this arrangement, you can pay more when you have more cash on hand and less if you’re financially strained. The cash value will grow based on market performance.

Permanent life insurance can be a good fit if you have lifelong financial needs – for example, if you have a child with disabilities, or you want to make sure you leave an inheritance for the next generation.

Learn more about the different types of life insurance here. Have more questions? Give one of our dedicated agents a call.

With term life insurance and permanent life insurance, you’ll often need to take a medical exam, so your insurance company can get a clear picture of your overall health. Since insurance companies are insuring your life, this helps them understand the level of risk in insuring you and determines your eligibility and rates.

If you have a chronic condition or a history of health issues, though, don’t worry – you still have options. Simplified issue life insurance policies help fast-track you through the process without a medical exam and with few health-related questions. They’re often able to provide you same-day coverage if you don’t think you’ll qualify for health reasons, or if you’re simply on-the-go and need a really flexible option.

Guaranteed issue life insurance also helps protect you quickly, but unlike simplified issue insurance, guaranteed issue does not require any medical information, medical exams, or medical history. In short, you can’t be denied based on health issues. That can ensure peace of mind for you and your family even if you have a history of health issues, like chronic illness or cancer.

Looking to get covered right away? Call one of eFinancial’s dedicated agents, and we’ll help you find the best option.