What is Life Insurance?
Life insurance provides financial protection for loved ones should the policyholder die or become disabled. Once a policy is issued, an insurer may not cancel it based on a change in the policyholder’s health status. The policy is guaranteed, and benefits must be paid.
What are the types of life insurance?
Most life insurance policies fall into one or two basic groups: term life and whole life (also called permanent life).
When should I buy life insurance?
Generally, you need life insurance if other people depend on your income or if you have debt that will carry on after your death. While a younger age is generally better to purchase your first policy, when the term should start may also be based on when you anticipate other people depending on your income. A term life insurance policy can cover an older policyholder who desires to financially cover his/her family post-mortem.
Couples who own property together may want to be covered until their mortgage is paid off. Single earner families may want a life insurance policy to cover childcare and other financial burdens the surviving spouse may encounter should a policyholder die.
Life insurance may be prudent if you have unsecured debt as credit card companies require that all outstanding balance be paid upon the death of the holder.
How much does life insurance cost?
Below is a graph of the average cost of a 20-year term life insurance policy.
Graph courtesy of Investopedia.com
Who offers life insurance?
Ethos has modernized the life insurance purchase process and replaced medical exams with algorithmic underwriting and supplementary data. Ethos is able to provide a life insurance policy to 95% of applicants instantly through a 10-minute application process simplified through technology.
- Simplified application and underwriting process (10 minutes to apply)
- No medical exams or blood tests
- Consistently one of the most affordable Life Insurance companies
- 78 Net Promoter Score (superior customer service)
- Forbes #1 Life Insurance company of 2024
- Around 95% of applicants up to age 85 are approved instantly when they apply for Ethos life insurance.
Through Ethos, it generally takes about 10 minutes through an on-line application to get up to $2 million in life insurance coverage, with no blood test or medical exam needed, just a few health and lifestyle questions.
How do I purchase life insurance?
If you have questions call or text us anytime at 503.482.2051
You can also click this link to get a free quote in 10-minutes.
Ethos life insurance quotes for clients of Solid State Tax
This material is compiled from sources SST believes to be reliable. The possibility of error does exist. The material is intended only as educational and may omit information on exceptions, qualifications, definitions, and effective dates. The reader should not rely solely on this material but should review original sources to determine the law and applicability for each situation. Neither the author nor Solid State Tax Service, LLC will be responsible for any error, omission, or inaccuracy under any circumstance.