LifeQuotes.com Issues Update for Life Insurance Shoppers Amidst Worsening COVID-19 Pandemic
"This is an unprecedented time of national anxiety not seen in this generation," said LifeQuotes.com CEO,
Handy tips for life insurance shoppers
Having an adequate amount of life insurance inforce is important and everybody's situation is unique. Here are some LifeQuotes.com guidelines:
- For people who work and have dependents, children or a mortgage: 10-15 times annual income
- For home caregivers:
$300,000 minimum - For burial-only coverage:
$10,000-$25,000
Zieba continued, "We've witnessed a welcome increase in policy purchases by younger applicants this year. In January, 19 percent of our customers were age 30 or less; today, it's 24 percent."
Life insurance prices are now at all-time lows
The chart of sample monthly premiums below reveals the best possible monthly prices for a 10-year level term life policy. Most 10-year term life policies are renewable, without evidence of insurability, to age 90+ and may be convertible to permanent insurance without having to undergo further underwriting. Other initial rate guarantee periods such as 15, 20, 25, 30 years and longer are also available as are Guaranteed Universal Life and Whole Life, both of which can provide a level death benefit and level premium for life.
Prices on the popular no-exam plans have resulted in them being 50 percent of policy sales at www.lifequotes.com.
Sample 10-Year Term Life Insurance Rates |
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Female Monthly Rates |
Male Monthly Rates |
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Age |
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Age |
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21-35 |
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21-35 |
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40 |
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40 |
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45 |
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45 |
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50 |
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50 |
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55 |
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55 |
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60 |
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60 |
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65 |
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65 |
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70 |
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70 |
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The sample premiums shown above assume that the applicant is in good health and has no ratable medical issues. Applicants with pre-existing medical issues can view instant quotes at www.lifequotes.com. Customers who want quotes and advice by phone can talk to our licensed specialists by calling (800) 556-9393.
COVID-19 pandemic changes that are affecting life insurance shoppers
"In recent months we've witnessed a number of acceptance guideline changes that life insurance shoppers should know about," remarked Zieba. "Applicants should expect to be asked about any positive COVID test, the dates of such tests and whether hospitalization, ICU services or a ventilator was required. Waiting periods from the date of recovery vary by insurer but can range from 30 days to two years, so it pays to shop around."
Bland said, "Life insurance typically covers death by any cause at any time in any place, except for suicide within the first two policy years (one year in some states), so if you die from COVID-19 after purchasing a policy, that claim will be paid. As of now, we know of no insurer that excludes death by COVID-19."
Zieba continued, "While 50 percent of our customers elect to buy no-exam life insurance, not all applicants will qualify. Our experience with the no-exam plans is that the underwriting is more stringent because there is no paramedical interview or blood lab analysis to aid the underwriter. Our comparative rating and illustration technology disclosures acceptance guidelines to the customer so that there are no negative surprises after an application is submitted, which results in a higher acceptance rate."
Applicants who have any of the following health histories can expect the life insurer to thoroughly review of a person's medical records before making a firm offer. LifeQuotes.com advisors will assist such customers in checking to see if the customer's doctor and health care facility has the medical records stored online and available for instant access transmission in order to avoid a slower manual records retrieval process.
- Hypertension
- Cardiovascular, Coronary Artery or Cerebrovascular (Stroke) Disease including valve disorders like mitral valve prolapse, mitral regurgitation or heart murmurs)
- Diabetes Type 1 or Type 2
- Respiratory Disorders; Asthma, bronchitis, pneumonia, COPD or Sleep Apnea
- Cancer
- Lymphoma or Leukemia
- Ulcerative Colitis or Crohn's Disease
New.
Zieba remarked, "We are excited about introducing a new term life plan that offers coverage up to age 99 without any health questions or medical exam. As the chart shows, the
The Term to Age 99 plan is available to
Coverage on this plan is not available to those who are currently incapacitated, currently institutionalized, terminally ill or full-time members of the military. Not available in AK, FL, ID, KY, ME, MO, MT, NM, NY, NC, OK, OR, PA, SD, UT & WA. A valid e-mail address is required. Call (800) 556-9393 to enroll.
Term Life to Age 99 No Health Questions, No Medical Exam |
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Death |
Monthly |
Death |
Monthly |
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Age |
Benefit |
Cost |
Age |
Benefit |
Cost |
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18-64 |
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18-34 |
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65-69 |
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35-39 |
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70-74 |
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40-44 |
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75-99 |
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45-49 |
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50-54 |
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55-59 |
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60-64 |
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65-69 |
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70-74 |
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75-99 |
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Past Accolades for LifeQuotes.com:
- 91,000 customers award 4.64 Star Ratings: https://www.lifequotes.com/liferequest/customerReview.jsp
- "2017 Life Insurance Innovation" award winner…
Life Insurance Direct Marketing Association - "The premier Web site in terms of details and ease of use..." -- Yahoo! FINANCE
- Twice Ranked #1 life insurance website by Kiplinger's
- Named a "100 Most useful website" by MSN Money
- Past Winner: Forbes' "Best of the Web"
- The best web site I've found..." --
Dallas Morning News - "...we'd recommend you do your insurance shopping here..." -- Barron's
- "...outstanding - as good as a Web site on insurance can possibly be. Hats off and a gold star to the top insurance site on the Web." -- Insurance for Dummies
About LifeQuotes.com
LifeQuotes.com operates an Internet-based life insurance exchange at www.lifequotes.com in which customers can view instant quotes on an anonymous basis and buy from the company of their choice on a paperless basis. The company's comparative rater is unique in that is reveals underwriting guidelines so that life insurance applicants can have a higher confidence in the most likely final premium. The company also provides technology and fulfillment services to insurance companies, financial institutions and affinity groups with large customer bases. The company's proprietary technology provides instant quotes and illustrations from 43 leading life insurers and enables a streamlined paperless purchase process. More than 380,000 people have purchased policies through LifeQuotes.com since the firm's founding in 1984. Visit www.lifequotes.com for more information or to experience the life insurance quoting experience online.
Survey Methodology, Participating Insurers
Life insurance policies described, quoted, shown and illustrated in this press release may not be available in all states and certain terms may vary by state where required by state law. The supplemental policies described provide limited benefits and are NOT comprehensive health insurance or major medical insurance and they do NOT satisfy a person's individual obligation to secure the requirements of minimum essential coverage under the Affordable Care Act (ACA). For more information about the ACA, refer to http://www.HealthCare.gov. Policies examined include
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