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1: What are the advantages to buying life insurance online?
There are many benefits to obtaining life insurance
through a trusted online agency such as Outlook Life. Here
are some of them:
- Your agent is licensed
with many companies, so you get the BEST policy for your unique
situation
- You can apply in YOUR home at YOUR pace
and without pressure.
- Your agent has daily EXPERIENCE in finding
policies for those with all types of risk factors.
- Most online quotes will BEAT discounts from
your present insurer, veterans' policies, and employee
rates, especially when tax consequences are considered.
- You need not share private details face
to face with an insurance agent.
- It's easy, convenient, fast, and the
application process is free.
2: Isn't there an advantage to using a local agent who will
meet with me face to face? Top
As far as meeting all legal requirements: We utilize strict
adherence to every regulation set forth by each state's
insurance commissioners. If a face to face meeting is required,
a Paramedical exam generally fulfills that requirement. We make
sure that every form of communication and transference of information
that we use (e.g. FAX, email, online signatures, phone calls,
PDF files, snail mail) has been approved by each carrier and
each state.
We have never had payment of a death benefit contested
due to placing a case online. In fact, in the absence of meeting
with an agent, carriers use several methods to verify information,
and the result has been strong policies with strong companies.
As far as getting personal attention: We are usually available at the drop of an email, day and
night. When was the last time you tried to get information
from your local agent?
As far as being assisted with the sales process: It depends. Do you want the lowest price policy you can find?
Do you have a health condition that causes you to be rated
up or declined with many carriers? Are you just looking for
one policy and not an entire financial portfolio? If any of
these apply, then Outlook Life will do a much BETTER job for
you than the average agent representing one company.
This is because the average agent sells to
far few people than online agents, but encourages them to
purchase multiple types of products. Therefore, they have
far less experience placing different health conditions, and
make their incomes off of far fewer clients. We sell you only
the product(s) you want, get it for you at the best possible
price (because we are contracted with multiple carriers),
and do it more effectively because we place multiple policies
for people of all kinds of health problems, each and every
day.
3: What is the advantage to
using Outlook Life if I have a health condition? Top
The key to buying life insurance online is finding a qualified
agent who will go to bat for you. Our agents are licensed
professionals who:
Will ask the pertinent questions needed to
find you a company that will accept your case and issue at
the best possible price.
- Are SPECIALISTS in impaired risk life insurance, eliminating
the frustration and needless declines that come from using
agents who are not trained in impaired risk.
- Will guide you through the entire application process from
QUOTE to ISSUE, providing you with regular updates and letting
you know all you can do to obtain the best possible price.
- Have direct access to underwriters, so don’t
have to guess at how you will be rated, and can consult with
underwriters to help get you the best price.
- Have EXPERIENCE in knowing what companies treat each health
condition in the most favorable manner.
- RESPECT your privacy and dignity while obtaining all the
information necessary to finding you the best policy.
- Will SERVICE your policy once it is in place.
4: What is the advantage to
using Outlook Life if I am in perfect health? Top
With underwriting requirements getting stricter
all the time, even those who think they are in perfect health
may find that they are not issued the best rates. Here is
how our experienced agents make sure that you are rated fairly
and pay the lowest possible premiums with the best rated companies.
- We have access to hundreds of quotes with
scores of companies, and will review all options to make sure
you are finding you the best possible price.
- We are aware of all risk factors (e.g. foreign travel),
so will not put you with a company that will charge you more
or decline you, even if you have perfect health.
- If your lab results or other factors keep you from getting
the rate you were quoted, we will find you the next best option,
even if that is with another company. Because of our direct
contact with underwriters, we can sometimes contest the rating
and get you a better one.
In addition, we offer several options for your
CONVENIENCE. These include fully underwritten policies (usually
your lowest cost choice), simplified issue, and INSTANT issue.
5: How does an online quote
work? Top
Filling out the online quote questionnaire is the fist step.
This gives our agents the heads up on what companies will
probably give you the best offer. Based on the information
required by those underwriters, the agent will usually call
or email you, asking for more specific detail. They will then
take that information to the underwriters so that the very
best offer can be found. You will receive a follow up phone
call or email notifying you of the tentative offer(s) obtained.
You can request additional quotes, or an application, at that
time.
Please remember this rule of thumb for obtaining
the best rates possible: MORE IS BETTER. The more information
you provide, the more leniently the underwriters quote, because
then they are not afraid of finding hidden information in
your medical records, MIB, or motor vehicle report (and they
WILL find that information sooner or later, so it is far better
to provide it right away). When making the decision on how,
or whether, to issue, will be more likely to rate you better
if the information included in the request for a preliminary
offer matches what was found during underwriting.
6: What do I need to disclose
to be assured of getting a solid quote? Top
Again, this is where an experienced agent becomes invaluable.
Who wants a policy in which the death benefit will not be
paid because of nondisclosure at the time of application.
Our agents will ask the questions that count and put you with
the best company, based on how you answer those questions.
That way you can be sure your policy will provide for your
loved ones when it is needed.
Some of these questions are not ones the normal
applicants think of, when considering whether they have risk
factors. These can include foreign travel plans and whether
you had a parent with cancer prior to age 60. Some things
from your distant past will affect rates with some companies,
such as alcohol treatment or bankruptcy. Some companies will
even decline your application because of details you may have
considered irrelevant. You can trust our quotes because we
will ask all the pertinent questions and only disclose it
to those who need to know in order to approve your policy.
7: How do you protect my privacy?
Top
All the information you supply is encrypted
and will NOT be shared with anyone except the insurance company
providing the quote, without your written permission. The
insurance company is not allowed to share any of your information
either. We also abide by all HIPAA regulations.
For more details on how we protect your privacy
and provide secure and safe service visit OutlookHolding.com
8: What is the best age to
buy life insurance? Top
Any age at which your death would result in a financial hardship
for others.
Obviously, most young adults do not have a
build up in savings or investments, or often have costly obligations,
such as children to raise and mortgages. Life insurance can
generally be purchased for a very low cost at younger ages,
and provides the immediate income needed in the event of a
tragedy.
On the other hand, older persons who have had
a chance to save and invest still may leave a loved on in
need of the regular income generated by the interest from
that investment. A small life insurance policy can provide
the funds to settle the estate, pay for the funeral and burial,
and leave investments untouched so that the survivor can live
off the return.
9: What types of life insurance
do you offer? Please explain each type. Top
We carry Term Life, Universal Life, and Whole
Life insurance products. Term and Universal Life are by far
the most popular. Term comes in regular Term and Return of
Premium (ROP) Term. Universal Life comes with and without
a lifetime guarantee. Here is a short explanation of each:
- Regular Term: Least cost per thousand dollars
of coverage. Used to cover temporary expenses (e.g. loans,
raising children). Over 99% of the Term policies we sell are
guaranteed not to go up in cost for the entire length of the
term. No cash value. Pay only upon death of insured. Can often
be converted to permanent at same health class at what the
Term was rated; however, the new permanent policy will be
based on the insured's age and insurance rates at the time
of conversion.
- Return of Premium (ROP) Term: Same as regular
Term, except that all premiums are returned if insured outlives
the years of the Term. E.g. if you purchase a 20 year Term
policy for $500/year, you would receive a tax free check for
10,000 if alive after 20 years. Prices start out somewhat
higher than regular Term.
- Universal Life: Has cash value that can
be borrowed from or surrendered. Premiums and death benefit
can be adjusted at any time. Can be designed to last a set
number of years. Money can be dumped into UL for tax deferral.
Policy can do better than at present, but never worse than
minimum guaranteed interest rate.
- Universal Life with Lifetime Guarantee: Same as Universal Life but with a guarantee to pay the entire death benefit no matter when death occurs (age 100+). This
gives it all the security of Whole Life but with the flexibility
of Universal Life.
10: What type of policy do
you recommend? Top
Permanent life insurance (Whole Life, Universal
Life) is intended to provide coverage for permanent needs
(such as funeral expenses); Term life insurance is intended
to provide coverage for temporary needs (such as mortgage
protection). Therefore, if your need is temporary, we recommend
Term insurance for its low cost and simplicity.
If your need
is permanent, we recommend Universal Life with a lifetime
guarantee. For permanent coverage, this product usually is
the most cost effective, offers much more flexibility than
Whole Life, and is the safest of all Universal Life because
of its guarantee to pay at least the entire face amount to
age 100+.
Here are two examples of Temporary and Permanent needs, as
they apply to the parents of small children.
- Temporary: You are looking for just enough
life insurance to ensure that each of your children has a
chance at a college education, if something should happen
to you. You have a 5 year old son and plan to have another
child. A 30 year Term plan would most likely be the best option.
- Permanent: You have a 5 year old handicapped
daughter who will never be able to live on her own. To ensure
her quality of life, you will not want to leave her without
financial resources for as long as she lives. Therefore, you
would best prepare for every contingency by purchasing permanent
coverage.
One affordable method of purchasing insurance
to cover both permanent and temporary needs is to buy both
Permanent and Term insurance. Some companies will give a discount
to those who purchase both types of policies at the same time.
Most people choose a larger face amount for
their Term policy and a smaller face amount for their Permanent
coverage. When the temporary need is over and the Term policy
is ended, the Permanent policy can continue on at the same
low price as when it was purchased.
This is especially cost effective if both policies
are bought at a time of good health. When someone has a health
problem, you may feel you cannot afford both types of coverage.
In this case, it is important to get the longest coverage
you can afford, because you may not be able to obtain insurance
later on. Also, medical expenses can make it tough to count
on savings to pay your final expenses. We work hard to find
you the lowest rates possible, so that you need never feel
bad about locking in those rates for the longest possible
time.
11: How do I apply for a policy
through Outlook Life? Top
To make it as simple as possible for you, and
to avoid mistakes or overlooking anything, our agents generally
fill out the questions on the application while you provide
the answers on the phone. Then the application is usually
faxed or emailed to you for your signature, and you fax, email,
or send it back.
Your signed application is forwarded to the
appropriate company, and it is determined whether an exam
will be needed. If an exam is ordered, you will receive a
call from a local examiner who will come to your home or workplace
to do the free exam. You can receive the results of the lab
work for free, after the policy is approved. Some companies
request a telephone interview that generally takes up to 10
minutes to complete, at your convenience, by calling a toll
free number. If you have a health condition, medical records
will normally be ordered straight from your doctor.
If you are applying for simplified or instant
issue, an exam, telephone interview, and medical records are
generally NOT required.
Your agent will keep track of these things
for you, provide you with updates, and help things go smoothly
so it is of minimal hassle to you, and so you get the best
rate possible.
12: How long does it take
to get a policy through Outlook Life? Top
Outlook Life now offers QUICK issue coverage for those with good health as well as poor health. These come in Term, Universal Life, and Whole Life, in face amounts ranging from $1,000 to $500,000.
These policies require NO EXAM and are generally issued in 1- 5 days. Some offer the return of all premiums paid in if the insured lives to the end of the term. For those of relatively good health, these policies pay 100% of the death benefit from day one. For those with serous health problems the policies may be graded, paying a portion of the death benefit the first 6 -35 months, then paying 100% after that.
For larger face amounts it is necessary to take a free exam in one’s home or other location. If there is a health condition the insurance company will order medical records from the physician(s). All this can take 4-8 weeks.
13: How do I purchase a policy
through Outlook Life? Top
Once you are approved, we will again notify
you of all the options you might be interested in; at the
rate you were approved. You can then be sure you are getting
the policy you desire before it is ever even issued. The policy
will come to you in the mail, with some paperwork that needs
to be signed or filled out, and then mailed back to signify
that you accept it. A check for the first premium (if not
prepaid) is also sent back in the enclosed envelope. This
process then puts the policy “in force.”
Some policies (especially Quick Issue) allow you to have the first premium drafted from the checking account or credit card noted on the application. For these policies you do not need to send in a check; they are usually put into effect immediately upon approval.
Please be aware that most companies require the first premium paid by check or drafted from a checking account or credit card. Please check with the Case Manager BEFORE attempting to pay by money order or cashier check to see if your company allows that form of payment.
Monthly premiums are required to be paid by automatic withdrawal each month. If you would rather pay by check you must choose the quarterly, semi-annual or annual payment mode.
14: What is Impaired Risk Underwriting
and how would it benefit me? Top
Impaired Risk Underwriting uses the most current medical
research to evaluate applicants individually, focusing on
the elements that truly affect a person's longevity, such as
lifestyle, family and medical history and compliance with
doctors' orders. This unique method of underwriting allows
applicants who have been rated or declined by other
insurance companies, to be offered some of the best rates in
the industry.
15: What if my case is not
eligible for Impaired Risk Underwriting? Top
We have over five Impaired Risk
carriers that we turn to when our clients are not able to
get a Preliminary Quote based on their health condition.
Some of these companies will use traditional underwriting,
but are willing to give high table ratings and will accept
more serious cases. If that does not work, some cases can be
placed with other carriers offering almost Guaranteed Issue.
And finally, there are carriers who offer Guaranteed Issue
to anyone (in all but a few states) who meets the age
requirements. The prices go up and the maximum allowable
face amounts go down with each option, so we carefully
review each possible option before resorting to the more
expensive ones.
16: How do I keep track of my application after it is submitted to Outlook Life? Top
We assign you a personal Case Manager who will call or email you with updates approx. every two weeks. You will be given the Case Manager’s phone number and email to contact if you have any question about the underwriting process. You will also have your agent’s contact information in case you have questions about or want to make changes to your policy. |
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These life insurance quotes are based upon the
information you provided online. Your final premium will take
into account any additional information provided on the
application, during the physical exam or underwriting process,
and may differ from the rates quoted.
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