Sentences with phrase «coverage than an applicant»

A person with a clean record is going to qualify for cheaper coverage than an applicant who has been involved in accidents or who has a history that includes moving violations.

Not exact matches

This is an excellent option because most applicants need more life insurance coverage than the basic plan offers.

This speedier underwriting oftentimes leads to instant approval of qualifying applicants — allowing you to obtain coverage within mere minutes rather than the inconvenience of having to wait for weeks or even months.

It's generally more affordable than permanent life insurance, and the duration of coverage can be tailored according to the applicant's age and needs.

For example, because many people who purchase no medical exam life insurance are over age 50, it is likely that these applicants are riskier to a life insurance company — and because of that, the premium that is charged for no medical exam coverage is typically more than that of a comparable medically underwritten plan.

According to Swiss Re, one of the world's largest reinsurance companies, more than 85 percent of life insurance applicants are accepted at standard premium pricing and only 1 - 2 percent of applicants are ever refused coverage.

It's pricier than other types and provides less coverage — but it's easier to qualify for and is valuable for people looking to skip the underwriting process, like elderly and less - healthy applicants.

This speedier underwriting can also oftentimes lead to instant approval of qualifying applicants — allowing these insureds to obtain their coverage within mere minutes rather than having to wait for weeks or months.

The downside to the medical exam is that it can identify underlying health problems that could result in an applicant being denied coverage or placed in a less than preferred status.

For the same coverage amount, young and healthy people pay less than older applicants in poorer health.

You will also be forced to lower your coverage amount if you sought more than $ 150,000 because the companies who offer graded understand an even higher risk profile for their applicants.

A. Of the hundreds of thousands of Grow - Up ® Plan applications that Gerber Life receives each year, currently less than 2 % 1 of applicants are denied coverage for medical reasons.

A physical may be necessary for cause and for applicants ages 51 and older who apply for more than $ 100,000 of coverage.

A physical may be necessary for cause and for term life insurance applicants age 51 and older who apply for more than $ 100,000 of coverage.

Because of that, term life insurance can often be more affordable than permanent coverage — primarily if the applicant is young and in good health.

Younger applicants of such coverage will always pay far cheaper premiums than compared to senior citizen applicants.

It is important to note, however, that because there is not medical exam that is required, these policies may be taking on applicants who are more risky to the insurance company — and because of that, the premium that is charged for this type of coverage may be higher than that of a comparable policy that is traditionally underwritten.

Designed for applicants in good health who want coverage faster than through traditional underwriting

As you can see, life insurance coverage is much more affordable than most applicants think.

It is important to note, however, that because the applicants who purchase no exam life insurance are often considered to be a higher risk to the insurance company due to their age and / or health, the premium that is charged for this coverage is usually higher than the cost of a comparable plan that has medical underwriting.

Designed for our healthiest applicants who want coverage faster than through traditional underwriting

As with no medical exam coverage, these policies tend to be more expensive than traditional coverage as the carriers usually table rate all applicants, but they are guaranteed to provide coverage.

These policies generally provide more coverage per dollar than a «guaranteed issue» policy, but they also require their applicants to be in slightly better health.

As with the guaranteed acceptance life insurance coverage, the premiums that are charged for simplified issue policies will typically be much higher than those of regular coverage due to the higher risk applicants that apply.

In addition, Guaranteed Issue life Insurance is more expensive than other forms of permanent life insurance coverage that may available to applicants in fair or better health.

Because these policies provide coverage for a set period of time rather than your entire life, the insurance companies tend to be more lenient with approvals for applicants that are «high - risk.»