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Welcome FAQ
 
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Why ShopTermQuotes.Com?

Bullet What happens after I purchase a policy?
Bullet A lot of the companies are closely priced, which company do I choose?
Bullet Explain what level term insurance and level premium mean:
Bullet How Much Coverage do I need?
Bullet Should my non-income producing spouse get coverage?
Bullet What about insurance for my Children?
Bullet What is Guaranteed Renewability?
Bullet What is Return of Premium? (R.O.P.)
Bullet What happens if I don't make my premium payment?
Bullet I have completed the paperwork and the medical exam, when am I covered?
Bullet Can you explain the “Application Process?”
   
Bullet Why ShopTermQuotes.Com?
 
Simply put, we are the best! We help you save up to 70% on your insurance policies. No one else covers Impaired Risk to the extent we do! We care about getting you covered!
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Bullet Blood Pressure Bullet Cholesterol Bullet Depression Bullet Anxiety
Bullet Alcohol Substance Abuse Bullet Sleep Apnea  
We are experienced professionals and will get your insurance coverage with quick & easy.
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Bullet What happens after I purchase a policy?

For policy maintenance i.e. payment, change of beneficiary, etc. we provide a full time dedicated staff to help you with your policy maintenance needs. Please contact Policy Holder Services or your ShopTermQuotes.Com licensed agent.

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Bullet A lot of the companies are closely priced, which company do I choose?
We know which companies are likely to accept which impaired risk that your medical history reflects. See Impaired Risk. Consult with your Shop Term Quotes Insurance Agent.
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Explain what level term insurance and level premium mean:

This Term life Insurance provides a death benefit that remains the same during the policy period (i.e. 10 year, 20 year or 30 year term). The monthly, quarterly, semi-annual or annual premium payment remains constant during the policy period. Your premium does not fluctuate up or down.

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Purchase: 20 Year Policy

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Carrier: ABC Insurance Carrier
Bullet Premium: $ 450.00 annually

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Death Benefit: $ 500,000
You are guaranteed that you will pay $ 450.00 year 1, 2, 3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19 and 20. During this period your coverage amount of $ 500,000 will remain constant. It will not fluctuate up or down.
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Bullet How Much Coverage do I need?

Please use the Insurance Calculator we have provided for you. Here are a few factors to consider:

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Mortgage Amount (consider declining need as balance drops).

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Miscellaneous Debt to be paid by your family should you die.
Bullet How many kids do you have and is paying their college tuition a factor?

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Investment dollars to provide income for your spouse to relieve the stress & anxiety of retraining and/or going back to work in the event of your death.
These are only some considerations; please contact us at 1-800-264-8114 for a confidential discussion regarding your needs.
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Bullet Should my non-income producing spouse get coverage?
By default, some insurance carriers will allow the spouse to qualify for half the coverage his or her spouse is applying for. You may consider that if you are the “bread winner” and your spouse dies their may be expenses such as nannies to take care of the children, take care of household duties, etc. while you are working. You may also want to take a sabbatical from your job to properly grieve and get your family back on a healthy track after your loss. This death benefit will ease the strain if such an event was to happen.
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Bullet What about insurance for my Children?

Some of the insurance carriers will offer a “child rider.” This is a flat rate per $1,000.00. Depending upon the carrier, you may have the option of obtaining up to $ 20,000.00 for all your children for one price. The amount of coverage depends on the carrier. You can get a separate policy for your children with an “A” rated carrier here – Children Insurance and start it for just $ 1.00.

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Bullet What is Guaranteed Renewability?
Once the term of the insurance policy you obtain expires, You may renew that policy without having to medically re-qualify even if you have a major change in your health condition. Your level premium will increase once the initial term of the policy expires.
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Bullet What is Return of Premium? (R.O.P.)
This is a very popular option! This policy operates the same as other Term Life Policies but costs about 25 – 30% more than if you don't have this option. The key to understand is that at the end of a 20 year term policy, you will get ALL your money back if you have not utilized your death benefit.
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Bullet What happens if I don’t make my premium payment?
The insurance carrier provides a grace period after the due date. During the grace period you can make any payments that are due and keep the policy in force. If you fail to make premium payments throughout the grace period, then your policy will lapse, which means you are no longer covered with the insurance and will have to re-apply for another policy.
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Bullet I have completed the paperwork and the medical exam, when am I covered?
This is determined by how you set up your policy. You can get your insurance in force right away with a temporary binder, which gives you coverage during the underwriting time, while the company approves your policy. If your policy is declined, the temporary binder may not have been effective. The insurance effective date is often different from the date the policy is issued. You may not be covered even after your policy is approved, but you can get covered before the policy is ever sent to you. If you purchase the policy, check to see when the insurance is effective and when it expires. A policy is never active until the company has received a premium payment.
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Bullet Can you explain the “Application Process?”
Application Process

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Quote yourself online.

Obtain accurate quotes from over 150 companies

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Contact us
Call us at 1-800-264-8114 or email us at licensedagent@shoptermquotes.com
Be prepared to discuss, in confidence, your personal medical history. It's best to disclose your medical history up front. Often times, you will be approved for coverage, even with what you believe to be a challenged medical history. You will likely be declined if something is discovered that should have been disclosed.

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Your M.I.B. report will be obtained. This is similar to your credit history report but relating to your health history. If you have applied for life insurance and in some cases health insurance, your medically history will be reflected in this report. You can contact the Medical Information Bureau for a copy of your report.

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You will have to take a free medical exam. This is called a Paramed Exam.
A "Paramed" nurse will come to your home or office. He or She will check your Height, Weight, Blood Pressure and take a blood and urine sample. Typically, you will hand your completed application to the nurse.
Tips For Taking Your Medical Exam

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Schedule your exam in the morning. Your blood pressure is lower in the A.M.

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It's best to fast for the exam.

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Refrain from drinking alcohol and taking Ibuprofen 2 days before the exam. This could result in temporarily elevated liver enzymes.

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Refrain from excessively jogging, running or engaging in heavy exercise - 2 days prior to the exam. If you do not it is possible that your urine specimen, temporarily, will have protein in the urine specimen.

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Refrain from drinking juice (i.e. apple, orange, etc.) the morning or day of the medical exam. This may temporarily cause you to have elevated sugar levels.

These are merely suggestions for optimizing what your health “usually' is not to portray a false picture of your health to the respective insurance carrier. You do not want to falsely mask any medical condition that you have. Misrepresentation and fraudulent results may ultimately result in your claim being denied when your beneficiary looks to receive the death benefit. Honesty is the best policy.
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