Perhaps the easiest way to understand direct term life insurance is to use its other name – DTC, or direct-to-consumer. As that phrase suggests, we’re talking about term life insurance that you purchase directly from a life insurance agency or company – usually online – without using an agent or another kind of intermediary.
Before we go further, here’s a quick explanation of term life insurance, direct or not: “Term” is a kind of life insurance which gives you a certain amount of coverage for a fixed period of time, both of which you choose. It’s a simple, affordable type of life insurance that helps you protect your loved ones during the years they need it most. (For a detailed breakdown of how it works, click here.)
The fact that term life insurance is so simple is one reason why direct term is such a useful product. While there are types of life insurance that might be more difficult to navigate without professional help (such as whole life), term isn’t one of them. Buying direct is simple, it’s every bit as secure as going through an agent. It’s also affordable. And, direct term can cost less than insurance offered through financial professionals.
Here are some other advantages of direct term life insurance:
Speed – if you want it
For many people, the biggest appeal of direct term life insurance is that they can get it quickly. It only takes a couple of minutes to generate an accurate, personalized quote online from an agency like Haven Life, which offers insurance issued by MassMutual, and it’s possible to actually sign up for a policy and start coverage the same day within about 20 minutes. That said, direct term also allows you to take your time. If you want to get quotes for different levels of coverage, then talk the options over with your spouse, or just sleep on it for a while, you can. No one will call and hassle you; there’s no pressure to buy a policy, even if you’ve got yourself a full quote. You can go at your own pace, and do it when it’s convenient. Is Sunday night the best time for you? Well, the internet never sleeps.
No guesswork
When you get a quote from Haven Life, you get your real rate – the actual price you’ll pay for the coverage you’re interested in, not a ballpark estimate. There’s no need to tell an agent what you want and wait for them to come back and let you know whether or not you’ll be able to afford it. The quote you get from Haven is the actual price you’ll pay, and you can see the cost of different amounts of coverage with a few clicks of your mouse.
You’re not on your own, unless you want to be
If you know exactly what coverage you want – a 20-year, $500,000 policy, for example – then you can apply for it in minutes. If, on the other hand, you’re not certain what level of coverage would best suit your needs, Haven Life has an online life insurance calculator that can help you determine the right amount and length of coverage, based on your circumstances (including, but not limited to your salary, your dependents, and what you want to your policy to cover.)
Life insurance for people with a life
You budget online. You invest online. Why not apply for your life insurance online?
Read moreNo obligations or awkwardness
Maybe you don’t feel comfortable having another person spend hours giving you different life insurance quotes, then rejecting them all. With direct term life insurance, that’s not a concern. Haven’s algorithms are pretty sophisticated, but they don’t have feelings, so you can get quotes for as many different coverage options as you want before making a choice.
And choice, ultimately, is what direct term life insurance is about. You can choose the coverage you want, when it’s convenient for you, and you can go direct to the source to get it. Think of “direct” as a way for you to get term life insurance on your own terms.
Michael Davis is a freelance writer and editor who has covered everything from fashion and music to parenting, work, and finance. He has been a chef, restaurateur and record label owner.
The post What is direct term life insurance? appeared first on Blog | Haven Life | Life insurance & Personal Finance Tips.
from Blog | Haven Life | Life insurance & Personal Finance Tips http://bit.ly/2XdUz39
This is dummy text. It is not meant to be read. Accordingly, it is difficult to figure out when to end it. But then, this is dummy text. It is not meant to be read. Period.
ConversionConversion EmoticonEmoticon