Types of Life Insurance

Learn the difference between Term, Permanent and No-Medical Life Insurance

Term

Temporary Coverage for Short Duration’s

Term is a great choice to cover the balance of the mortgage, fund a college education, or replace lost income in case of death.

Term life insurance is usually shopped for based on price and conversion options. The most popular term life insurance policies offer payouts for heart attack, stroke, disability, and cancer. You can get an idea of how much coverage may cost by using our instant term life insurance quoter located below.

For term life insurance, our general philosophy is to obtain a low price for the amount of coverage to be purchased and give secondary thought to a flexible conversion option. Because life insurance pricing is heavily based on health and type of condition, we shop each case to get you the best rate.

The main drawback to term is when the coverage ends, the premiums generally skyrocket. Term is not designed to provide lifetime coverage.

Permanent

Lifetime Coverage at a Low Premium

Permanent policies are designed to maximize a lifetime death benefit with a lower premium than Permanent Plus policies.

The most popular policies offer payouts for heart attack, stroke, disability, and cancer.

Do you have a financial safety net to buy time for the family to get back on its feet when serious illness or death will inevitably occur?

Let us show you how affordable coverage can be by requesting a no obligation permanent life insurance presentation and consultation.

Permanent Plus

Designed for Wealth Accumulation

Permanent Plus policies are for high income earning clients in search of tax free retirement income*. They are typically designed with the minimum death benefit possible to reduce costs.

The most popular plans offer protection against drops in the market, diversification across major market indices, and the ability to withdraw cash values on a tax free basis*. These plans can be used to compliment and strengthen a clients existing portfolio and offer tax diversification of retirement income.

We consider Permanent Plus policies for clients that have maxed their Roth contributions, or are ineligible for a Roth due to income.

We specialize in presenting these policies for our emerging affluent and affluent clients. Let us show you how much tax free retirement income a plan like their can provide by requesting a no obligation presentation.

*tax free when properly designed

Non-Medical

Don’t like needles? No worries!

At InfiniteYou we understand that everyone is different. Some our clients want coverage quickly, while others don’t like needles. This is why we have a full portfolio of non medical life insurance policies.

Our team of independent agents will compare life insurance products and let you know your best deal for both non medical exam and fully underwritten life insurance. Many times the cost between the two policies will be small.

High cholesterol and blood pressure are the most common reasons a policy comes back with a higher premium. If you are concerned about your blood work, paying a few additional dollars for a non medical policy may save you significant premiums versus a fully underwritten policy. A non medical approval is fast, with some approvals in as little as 15 minutes. Read more about this subject here.

A fully underwritten life insurance policy requires a medical exam. The examiner comes to your home and checks your height and weight and will usually collect a small blood and urine sample. The requirements will be based on your age, health, and the amount of coverage you want.

Your lab results are processed and the life insurance carrier offers you a policy based on your results. In come cases, a physician’s statement may be collected if the carrier feels more information is needed.

For healthy individuals, the typical time it takes for the insurance company to underwrite your case and make an offer can be as fast as 48 hours. However, the normal time is 2-4 weeks. For someone with a complex health history it can take 4-6 weeks or longer.

An advantage with a fully underwritten policy is that for those who are healthy the savings can be substantial. Read more about this subject here.

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