With many different types of plans available on the market, it can be difficult at first to know what plan is best for your circumstances. We’ve prepared this helping chart to help you get a scope of what plans you may be eligible for, how you can qualify, and what these plans are best suited for.
|Type of Insurance||Length of Plan||How to Qualify||Best Suited For:|
|Term Life Insurance||10 to 40 Year Terms||Medical Exam and Full Underwriting||Income replacement and mortgage debt. Allows for larger coverage at lower cost.|
|Term 100 Life Insurance||For Life, payable to age 100||Medical Exam and Full Underwriting||Lowest cost among permanent plans. Ideal for estate management and long-term debts.|
|Whole Life Insurance||For Life, may be paid up in 10 to 20 years||Medical Exam and Full Underwriting||Long term protection with more flexibility. Good for those who expect their insurance needs to change over time.|
|Universal Life Insurance||For Life||Medical Exam and Full Underwriting||Wealth management and building an estate. Suited for those comfortable deciding their own investments.|
|Simplified Life Insurance||10 – 20 year terms, or For Life||No Medical Exam, Just a Few Health Questions||For those with health issues. Ideal for coverage of debt in retirement and final affairs.|
|Guaranteed Life Insurance||For Life||No Medical Exam and No Health Questions||The right option for those with significant health issues. Coverage is well suited to providing for funeral costs, probate fees, and estate taxes.|