Your #1 Source for Term Life Insurance Quotes
FREE LIFE INSURANCE QUOTE TOOL! Compare life insurance quotes from over 35 highly rated life insurance companies in your area
The Help You Want To Buy Life Insurance Online Without Pressure!
- Instant term life pricing
- Private quote comparison
- Flexible coverage options
- No-pressure buying experience
- No-exam options available
- Expert support when you need it
At Decision Tree Insurance, we want to help you shop for and buy term life insurance online by letting you see what policies cost without requiring you to provide any personal information to get an affordable life insurance quote.
Instead, just compare by filling out your basic details, such as your age, sex, and state you live in, choose an insurance amount, pick the type of insurance plan that looks right, and BOOM! Compare life insurance quotes for term life insurance, universal life insurance, or even some whole life insurance, as they will instantly appear on your device with our free life insurance comparison tool, designed to provide you with a life insurance quote online.
When we have earned your trust and you are ready to buy this important financial coverage, you can do so through a financial professional appointed with us who can gather everything the issuing insurance company needs to make an underwriting decision, and you can get the best life insurance policy based on your health status.
Our online quote engine is available 24/7, so you can find the right life insurance policy anytime, anywhere. With our quotes, you’ll be able to see how much different policies cost and become an educated consumer to get the death benefit protection your family or business needs.
Use our online life insurance quote engine as much as you’d like and as often as you like to find out how much life insurance costs without having to give your personal information.
When you get life insurance quotes from Decision Tree Insurance, you become an educated consumer who understands how much different life insurance policies cost.
You Can Get Life Insurance Quotes On (click for description):
When you need help or are ready to buy life insurance coverage, Decision Tree Insurance can help you get the life insurance coverage you want at the lowest overall cost possible.
Why Buy Life Insurance From Decision Tree Insurance?
Decision Tree Insurance helps people in ALL 50 states find the right insurance for their needs and budget. We represent you, our clients, and our mission is to help you navigate the life insurance choices available to you. Life insurance is an important part of your financial plan, and its death benefit protection will provide financial security at a time when it will be needed most, BUT it is still just one part. We understand you want the best coverage possible while still accomplishing other goals and keeping your monthly cost as low as possible.
When you buy life insurance with Decision Tree Insurance to protect your family or business, you can be confident that your best interests are our primary concern. When giving you a “life assurance quote”, we look at the big picture, understand what you want to accomplish, and help you understand the pros and cons of all your life insurance options. Life insurance is only part of what we do here. Our goal is to provide you with such a great experience purchasing your life insurance policy from us that you will come back to us for ALL YOUR Financial Needs and Share Our Name with all your friends and family.
Getting a lot of life insurance quotes is a great way to understand how much life insurance costs, but a professional agent, like the ones at Decision Tree Insurance, who has your best interests in mind, will help find the best life insurance plan to accomplish your goals and make these life insurance companies compete for your business.
How Much Life Insurance Should You Purchase?
Before you start generating term life insurance quotes on our quote engine, you may have questions about how much coverage you need to provide the financial safety net for the policy’s beneficiaries.
The life insurance needs calculator on this page will help you calculate the exact amount of coverage to have to meet you financial goals by asking questions on topics such as:
– Your anticipated funeral expense
– Outstanding debts
– Annual income
– Family members
– Current life insurance in force
As well as several other factors to determine the total face amount of insurance you should carry.
This life insurance needs calculator will help you to determine how much life insurance you should own so when you are getting your life insurance online quotation, you will be quoted for the correct amount of coverage.
Use the life insurance calculator and the life insurance quote tool above as much as you want as often as you want. Share them with your friends and family so they too can understand their options. Most importantly, contact Decision Tree Financial when you are ready to buy life insurance coverage so that we can work together to get you the best life insurance plan at the lowest possible cost.
How Much Life Insurance Coverage Will They Give Me?
How much life insurance you can buy is based on several financial considerations and your health. Each company has its own underwriting guidelines to determine the maximum death benefit amount it will issue.
Factors that will affect how much life insurance you can purchase include:
– Premium payments
– Assets and retirement savings
– Annual income
– Your health status
– Existing life coverage already in force
Insurance companies are experts at managing their own risk so they limit their exposure to the coverage they provide to any one client so they can maintain their financial strength and claims-paying ability.
They also don’t want someone who buys a policy to be “worth more dead than alive” which is something many consumers feel may happen when they take out millions of dollars in coverage as income replacement and provide financial support to the policy beneficiaries. Life insurance doesn’t make someone rich. It provides the money needed to replace the future economic value lost when an insured dies.
That means that the death benefit of a life policy allows an insured to keep sending financial support to the people who depended on their income as if they were still there.
This is very POWERFUL!
The professional insurance agents at Decision Tree Insurance will help to ensure that you can get the most life insurance you are eligible for to satisfy your needs and budget. We represent many insurance companies beyond those on our quote engine, and we strive to give you the best chance to get the life insurance coverage you need.
How Much Does Life Insurance Cost?
You will find 10-year term life insurance quotes are the cheapest requiring the lowest amount of premium for a given amount of death benefit protection. The term length (i.e. 10 years vs. 20 years of level premiums) causes lower premiums for shorter term lengths.
Return of Premium term insurance is a unique product that returns all the premiums paid at the end of the level term period if the insured is still alive. The trade-off for this feature is a higher premium compared to a traditional term life insurance policy.
Permanent life insurance requires more premiums than term life insurance because these policies may have a cash value component and they provide lifelong coverage.
You can change the search variables on our life insurance quote tool and review how different term lengths and permanent life insurance options can impact the premiums.
You will find cheap life insurance quotes online on our site but if you have questions, contact us to get your questions answered.
Do I Have to Talk To An Agent Or Can I Just Buy Insurance Directly?
The agents at Decision Tree Insurance are here to help answer questions and guide you to the right plan. We are not here to try and oversell you an insurance plan you don’t want or need. We have placed hundreds of millions of dollars in coverage and have delivered insurance death benefits to grieving families who lost loved ones and suffering businesses who lost key people, so we know firsthand how important having the right amount of coverage is.
There have been attempts to sell life insurance without an agent, but they have failed miserably. Having a knowledgeable agent like those at Decision Tree Insurance is an asset that lets you get the right coverage at the best overall price.
What Is The Best Life Insurance Company to Buy a Policy From?
At Decision Tree Insurance, we aren’t “married” to any ONE particular insurance company. Instead, we look at the benefits a policy provides and the claims-paying ability of the company issuing the policy, relative to the premiums they require to retain the coverage.
There are hundreds of great insurance companies with the financial strength to pay millions of dollars in claims. We recommend you choose the option that offers the most benefits at the least overall cost, which may be best determined by engaging with a financial planning professional.
That said, buy the policy you are most confident in, even if it is a little more expensive than the others on the market. We have policies that require medical exams, which may be a little less expensive, as well as no-exam life insurance, which may be a little more.
How Many Life Insurance Policies Can You Own?
You can own as many life insurance policies as you want from as many different companies as you want. As a matter of fact, it may be a good idea to use multiple companies if you are buying multiple millions of life insurance coverage to spread out your own risk!
This being said, the number of life insurance policies you have isn’t as important as the amount of coverage you own and whether or not the coverage is adequate to meet your needs.
For example, if you need $500,000 of coverage and you have two policies, each providing $250,000, you still only have $500,000 of coverage.
On the other hand, if you use our life insurance calculator and it shows you need $500,000 of coverage, and you have one policy that provides $400,000 of coverage and another policy that provides $100,000 of coverage, you have $500,000 of coverage.
The amount of life insurance you need is determined by many factors including, but not limited to, how much debt you have, how much income your family would need if you died, and whether or not you have other sources of income such as a pension, and whether or not you have enough saved for retirement.
Some people consider both their long-term and short-term objections to buying a term life insurance policy to cover financial obligations for a certain amount of time (like 10 or 20 years) and then buy a permanent life policy for lifelong coverage.
Will I need a medical exam to qualify for insurance?
“Big data” has allowed many life insurance companies to issue policies without requiring the applicant to take a medical exam and being poked by a needle (nobody likes that!) If you find yourself in excellent health, there is a really good chance you can avoid this. It also depends on how much coverage you are looking to purchase. The larger the amount, the more risk is on the company, and the more likely they will be to perform their own due diligence before they issue a policy.
The companies that do not require a medical exam usually look at other data points to assess risk. This means that your health history is still important, but the process has been simplified.
What kind of information will the life insurance company ask for during the application process?
The life insurance company will ask you for basic information such as your name, date of birth, gender, smoking status, and address. They will also ask you questions about your health history, your last doctor’s appointment, height, weight, and any medications you may be taking.
It is important, to be honest when answering these questions because the life insurance company will use this information to assess your risk. There is a two-year incontestability clause that life insurance contracts contain, meaning if important information (such as future medical procedures or health history) is withheld from the underwriting process, a policy is issued without that information being considered, and the company finds out in the first two years of a policy being in force, it could void the contract!
Many companies will issue policies with this information. Others will request medical records from your doctors, and some may still require you to have a medical exam to obtain underwriting approval.
What if I have a pre-existing medical condition?
If you have a pre-existing medical condition, you may still be able to get life insurance coverage.
Most insurance companies have underwriting guidelines outlining various illnesses and the professional agents at Decision Tree Insurance know where to obtain that information to find the life policies you qualify for.
Based on the information they gather, the life insurance company will determine whether or not they are able to provide you with coverage and, if so, how much your premium will be. Term life insurance may not be available if your life expectancy is short, and you may only qualify for a form of permanent policy to cover funeral costs and other final expenses, but this coverage may meet some of your investment objectives in buying a policy.
You can talk to an agent at Decision Tree Insurance about your medical history. We have relationships with underwriters at hundreds of companies and will find the best policy for you based on your unique situation.
Can Smokers Get Good Rates On Life Insurance?
Yes, smokers and tobacco users can get good rates on life insurance. There are many life insurance companies that offer special rates for smokers and tobacco users. The agents at Decision Tree Financial can help you find the best life insurance policy for your needs.
Smokers and tobacco users can get good rates on life insurance by:
– Buying a policy from a company that offers special rates for smokers and tobacco users.
– Quitting smoking or using tobacco products (but you will have to wait a year or more to get good rates, so get a policy now and replace it in the future when the tobacco is out of your system.)
– Choosing a policy with low premiums.
– Purchasing a policy with riders that cover the costs of smoking or using tobacco products.
The agents at Decision Tree Insurance can help you find the best life insurance policy for your needs. We will work with you to determine what riders are available and which ones make the most sense for you. We will also help you choose a policy with low premiums and coverage that meets your objectives.
What Happens to My Policy If I Forget To Pay The Premium
If you forget or can’t pay your insurance premium, you have a “grace period” to catch up and remain insured.
A term life insurance policy has a 30-day grace period in most states. This means that if you don’t pay your premium by the end of the 30 days, your policy and coverage will lapse.
Lapsed policies can usually be reinstated within 3 years, but the insured will have to go through an underwriting process again, and the two-year contestability clause is reinstated for everything except suicide. This means that if your health has changed since you first applied for coverage, you may not be able to get the same coverage or premium you had before.
It is important to ensure you have the funds available to pay your life insurance premiums when they are due to avoid lapses in coverage. You can set up automatic payments with most life insurance companies to make sure your premiums are paid on time, every time.
Also, paying premiums annually requires less premium than paying monthly.
However, some people live to pay monthly so they “don’t forget.” At Decision Tree Insurance, we help clients with larger premiums set up a separate bank account that is ONLY used to pay life premiums, and deposit money monthly into this account so it has the funds available when it is time to pay the annual premium. This allows our clients to pay level premiums and also take advantage of the savings afforded by paying annually for their entire life.
What If I Miss a Premium on a Universal Life Insurance Policy?
The premium for universal life policies goes into a cash value account. The cash value growth of these policies is tax-deferred, and their performance depends on the underlying investment options available. The cash values are used to pay for the cost of insurance each month for the policy and are available to take loans or withdrawals against.
If you don’t have enough money in your cash value account to cover the cost of your insurance, your policy will have a 30-day grace period and if premiums are not received, the policy will lapse.
Too, when you can make withdrawals from your cash value account, keep in mind that this will reduce the death benefit of your policy because the insurance company places a lein on the outstanding loans to guarantee their repayment.
What If I Miss a Premium on a Whole Life Insurance Policy?
If you have a whole life insurance policy, you also have a cash value account. The cash value of your policy grows tax-deferred, and you can use it to pay your premiums or take loans against it.
If you don’t have enough money in your cash value account to cover the cost of your insurance, your policy will lapse.
You can make withdrawals from your cash value account, but keep in mind that this will reduce the death benefit of your policy.
Do I have to Die to receive benefits from a life insurance policy?
It is important to know that LIFE INSURANCE can be AN ASSET as well as insurance, so there are a number of benefits and options available to a policy owner once they have coverage.
Most people think they receive benefits only if they die, but that is not always the case. Some policies have “living benefits,” which allow the policyholder to access a portion of their death benefit while they are still alive.
One type of living benefit is known as an accelerated benefit rider, or accelerated death benefit rider, and is typically used to help cover the cost of long-term care or end-of-life expenses.
Another type of living benefit is known as a critical illness rider. This rider pays the policyholder a lump sum if they are diagnosed with a covered critical illness, such as cancer, heart disease, or stroke. The policyholder can use the money to help pay for medical expenses or everyday living expenses.
Some policies also have a disability income rider, which pays the policyholder a portion of their death benefit if they become disabled and are unable to work. The payments continue until the policyholder is no longer disabled or until the death benefit is exhausted, whichever comes first.
Policies with living benefits typically cost more than those without, but for some people, peace of mind and extra coverage is worth the extra cost.
The agents at Decision Tree Financial can discuss what policies have these extra benefits and what the monthly cost will be for your coverage.
What Are My Options If I Don't Want My Policy Anymore?
Depending on what life insurance plan you have, there are a few options to consider:
If you no longer want your term life insurance policy, you have two options. You can simply stop paying the premiums, and the policy will lapse. Since term insurance does not have a cash value, it has no surrender value. However, depending on your age or health, you could possibly sell the policy in what is known as a life settlement (I will explain in the next section)
If you have a whole life insurance policy, you likely have a cash value account. The cash value of your policy can be either surrendered for cash (in which any amount you receive above the premiums paid into the policy will be taxable income unless you perform a “1035 exchange“), use the cash value to purchase “extended term coverage” or the policy death benefit amount can be reduced to create what is known as a “paid-up insurance policy” which requires no additional premiums for life. The owner of a whole life policy may be able to sell it to a life settlement company as well.
If you have a universal life insurance policy, you can stop paying premiums, and the monthly deductions for insurance will be debited from the policy’s cash value. You can also reduce the death benefit of the policy, and the monthly deduction will be reduced, allowing the contract to stay in force longer. You can also surrender the policy and receive the cash value if you are unable to sell the policy to a life settlement company or perform a 1035 exchange.
If you have a policy and want to get rid of it, contact us, and we can discuss the options available to you.
What Are Some Riders I Can Have With My Life Insurance Policy?
There are a number of riders you can add to your life insurance policy, but some of the most popular ones include:
Accelerated Benefit Rider – This rider allows you to access a portion of your death benefit while you are still alive if you are diagnosed with a terminal illness.
Critical Illness Rider – This rider pays you a lump sum if you are diagnosed with a covered critical illness, such as cancer, heart disease, or stroke.
Disability Income Rider – This rider pays you a portion of your death benefit if you become disabled and are unable to work. The payments continue until you are no longer disabled or until the death benefit is exhausted, whichever comes first.
Waiver of Premium Rider – which waives your premiums if you become disabled.
Child’s Rider – which provides coverage for your children; and a spousal rider, which provides coverage for your spouse.
Long-Term Care Rider -This rider pays you a portion of your death benefit if you require long-term care. The payments continue until you no longer need long-term care or until the death benefit is exhausted, whichever comes first.
The professional agents at Decision Tree Financial can help you determine what riders are available and which ones make the most sense, if any, for you to include on your new life insurance policy.
What is a "Life Settlement"
A life settlement is similar to a viatical settlement, but it is not restricted to people who are terminally ill. Any policyholder can sell their policy for a life settlement, regardless of their health, as long as there is someone willing to purchase it.
Like a viatical settlement, a life settlement is an arrangement in which the owner of a life insurance policy sells the policy to a third party for less than its face value. The third party then becomes the policyholder and is responsible for paying the premiums. When the original owner dies, the third party receives the death benefit.
The money from a life settlement can be used to pay for medical expenses, everyday living expenses, or anything else the policyholder needs and is always more than what the policy owner would have received if they had just “lapsed the policy.”
Life settlements are typically used by people who no longer need or want their life insurance policy and who aren’t in as good health as when they took out the policy. The proceeds from the policy sale can be used to pay off debts, finance a child’s education, or fund anything else the policyholder needs.
