How to Get $1M in Life insurance Without a Physical, Policy Fees or Long Application
Pop quiz time. What do you think about when you think about buying life insurance?
Time’s up! Did you think of pushy salespeople? Or maybe your mind went to the dreaded thought of getting locked into a 20-year policy that isn’t right for you even five years down the road.
According to the Insurance Information Institute, an independent resource for information on all things insurance, 44% of consumers overestimate the cost of life insurance, and more than half of them say they’d get it if they could just get it priced without a physical exam.
If you think you’re ready for a term life insurance plan to help protect your family, check out Ladder. You’ll find that you can get life insurance without a physical, policy fees or a long application. Sign up in about 10 minutes online!
Back up — What Is Term Life Insurance?
Simply put, term life insurance is a life insurance policy that pays out a benefit upon the death of the policy holder. The policy is purchased for a certain term, for example 10 or 20 years, and the policy holder can choose to renew their policy once it expires.
The biggest determining factors in the cost of a term life insurance policy are the amount of coverage (the amount left to the family) and the age, gender and health of the person insured.
The primary benefit is the ability to leave money for loved ones for things like funeral and living expenses.
For example, imagine a man who is 35 years old, married and has two kids. He may choose to purchase term life insurance. If he should die unexpectedly, the insurance policy would leave a predetermined amount of money to his wife and kids to help pay funeral costs. It would also help them get by without his income, so they could continue to pay their bills, stay in their home and continue their education.
Keep Life Simple
You can use Ladder’s coverage calculator to figure out how much coverage you should have. Then your online application only takes a few steps:
- Take about five minutes to answer a few questions about your life and health, such as your income.
- You’ll get an instant decision on coverage, and there’s no risk. You won’t even have to go get a full physical. Some simple lab work might be required, but that’s easy, right?
- You’ll need to enter your driver’s license and social security number, which is true for any life insurance application. The company needs this information to verify your identity and prevent fraud. It uses a secure website and will not sell your private information.
- You’ll pay no policy fees, and you can cancel anytime. You even get a 30-day money-back guarantee.
My Life Changes. What About My Policy?
One of the hardest parts about choosing a life insurance policy is trying to figure out just what kind of policy is the best fit for you and your life. What if you sign a 15-year policy and your life situation changes?
People get married, buy houses, have kids and then, eventually, those kids move out and do their own thing.
Ladder gets it. Your life is dynamic, and your life insurance coverage should be able to change with it. That’s why it offers flexible coverage.
Sign up for the coverage you need, but when your life takes a new path, Ladder lets you add more or even reduce your coverage without dealing with high-pressure agents or even tedious paperwork.
Life can be hard, and making decisions about it can seem even harder. Ladder makes life insurance easy to get and easy to change.
Tyler Omoth is a senior writer at The Penny Hoarder who loves soaking up the sun and finding creative ways to help others. Catch him on Twitter at @Tyomoth.