We’ve all heard the old saying: You get what you pay for. While looking for a bargain when you need a dress may be wise, you’re better off paying for quality and stability when it comes to products that could help protect your health, family and future.
Life insurance is one purchase where quality and stability matter. After all, it’s a purchase you’re making to keep your family protected and help give you peace of mind. And your choice can last the rest of your life.
So, what should drive your decision to choose a life insurance policy? There are at least four factors you need to think about.
Is the company you’re considering strong and reputable?
One way to check out the financial strength of an insurance company is by looking at its ratings. An insurance company’s credit rating lets you know if they’re reliable. Companies with good ratings are more likely to be able to pay their policyholders’ claims and honor the guarantees in their contracts. You can check out A.M. Best, Fitch, Moody’s and Standard & Poor’s to see a company’s ratings.* Each rating agency has its own system for rating life insurance companies.
You may also want to check the company’s rating history (watch for things like big changes from year to year).
Is the policy a whole life policy or a term life policy?
There are more differences than just premium and time that someone needs to consider. They can include the cash value of the policy — and whether or not it expires.
The best way to describe the difference between whole life coverage and term life coverage is the difference between “if” and “when.” Term life insurance is for “if” you pass during a set period of time (usually 10 to 30 years). Whole life insurance is for “when” you pass. That means you keep the policy your entire life, and it pays out when your loved ones need it — no matter when that is.
Generally, premiums for term life policies tend to be lower than premiums for whole life policies. That’s because term life policies expire, but you can keep a whole life policy for the rest of your life, and term life policies don’t gain cash value over time, where whole life insurance policies do.
So, if you’re looking at two different policies — one that is $10 per month that expires in 10 years and another that’s $40 per month but lasts the rest of your life — you’ll want to think about these differences and consider the type of coverage you really need.
What kind of service does the company provide?
Choosing the right policy can seem daunting. And, it’s important during that process to know you have an expert on your side who can answer questions and guide you toward a policy that fits both your needs and your budget.
For example, Peace Assured agents are all non-commissioned. And you can rest assured they’re giving you solid advice and guidance based on years of experience.
There’s no pressure to buy a Peace Assured final expense whole life insurance policy. Agents are here to answer your questions — even if you aren’t ready to make a purchase yet. When the time comes to buy, you can be confident they’ve helped you make the right choice for you and your loved ones.
What’s the application process like?
Not all application processes are equal. For some policies, applying is a time-consuming project. The applications themselves can be long, and they may even require a medical exam.Peace Assured policies aren’t like that.** You will know exactly what you need for your application up front, so there are no surprises.
Instead, you can get coverage quickly and on your schedule.
How Peace Assured is different
Peace Assured final expense whole life insurance policies are whole-life policies. That means the coverage will be there when your loved ones need it. And, they’re provided by Sagicor Life Insurance Company, a business that people across the country have trusted with their coverage since 1954. Sagicor has an A+ rating from the Better Business Bureau, and an A- (Excellent) rating from A.M. Best Company (4th best out of 16 possible ratings).***
Non-commissioned agents are ready to guide you through the process, so you can feel confident the money you’re paying toward a monthly premium is well-spent. If you buy a policy, your coverage will start immediately after your first payment.
You can get started today, just by clicking the Get a Quote button that the top of this page. Or, you can call 866-353-8995 to talk with a non-commissioned licensed life insurance agent.
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*,*** Rating and guarantees based on the claims-paying ability of the issuing insurer.
** Policy issuance depends on answers to applications questions.