Matekel Insurance Agency
Life Insurance-Annuities-Retirement
Medicare Advantage/Supplement-ACA/Obama Care/Health Insurance-Children's Whole Life
Simplified issue life insurance
As the name suggests, Simplified Issue is the simplest form of underwriting. Applicants must answer some questions about their health, but not take a medical exam. Insurers will then use third-party sources to gather additional information about applicants, such as their prescription drug history. As a result, simplified Issue, in most cases, receives instant decisions by the insurance company, unlike the Fully Underwritten process, which can take much longer.
Term Life
For a specific period of time, a life insurance policy stipulates the insurance company must deliver a tax-free payment if the insured person dies within that timeframe. For example, many term policies only cover 10, 20, or 30 years but can be renewed, usually for a higher cost, at the end of the policy.
Whole Life
A type of life insurance that has both permanent life insurance and an investment component. Upon the death of the insured person, the life insurance company makes a payment to the beneficiary. The investment component accumulates a cash value that the policyholder may withdraw or borrow against.
Final Expense
It is a whole life policy typically used to cover final expenses, funerial/burial coverage. It is a Simplified Issue, permanent life policy,
offering lower coverage at lower premiums. Policies are available from $5,000 to $50,000.