While there are numerous reasons for obtaining life insurance, sometimes getting coverage into place quickly is essential.
Deciding which insurance policy works best for your family can be difficult, there are dozens of kinds of policies and thousands of companies to choose from, which can make the process overwhelming.
Southwest Life Insurance Company Review
With the Life Insurance Company of Southwest’s Non-Medical Term life insurance product, individuals can do just that.
With this 1 Click Coverage product, policy face amounts can range from $25,000 up to $350,000 – and applicants can oftentimes obtain a decision on their application within 5 minutes, with no medical exam to contend with.
That means no blood and urine test is required for qualification. Although some of the most highly rated life insurance companies may offer up to $399,999 in coverage, decision times will take 1-2 days, as opposed to instantly.
In addition, with this no exam coverage, you can also be approved at preferred rates – so, if you are in excellent health, you can also obtain a competitive rate. Although it is likely that if you are in extremely good health, you can get a better rate by going with traditionally underwritten coverage that includes a medical exam.
If you’re looking to get the most affordable life insurance policy, you’ll need to apply for a plan that requires a medical exam.
Applying for this coverage is easy and convenient. The process can take place 100% online – without the need to ever meet, or talk to an insurance agent or a paramedical professional.
Applicants are required to answer only 12 health-related questions on the application. Upon approval – which can typically occur within just minutes – the policy is emailed to the insured within 24 hours.
Premium payment is easy, too. Payment can be made either through debit or electronic funds transfer (EFT) from a checking or savings account, and the automatic payment draft dates can be adjusted once the policy is in force.
Policyholders should feel confident about owning 1 Click Coverage from the Life Insurance Company of the Southwest, too. The company is owned by National Life Group, a strong financial services company that has been in business for over 160 years.
Given its strong financial foundation and excellent reputation for paying claims to its policyholders, insureds should have peace of mind in knowing that their loved ones are well protected.
Policy Features of Southwest Life Insurance
Some of the key policy features of the Life Insurance Company of Southwest’s 1 Click Coverage include:
- Face Amount of Coverage – $25,000 – $350,000
- Coverage Length – 10 years, 15 years, 20 years, 30 years
- Issue Ages – Age 20 – 60 for 10 year coverage; Age 20 – 60 for 15 year coverage; Age 20 – 55 for 20 year coverage; Age 20 – 50 for 30 year coverage
- Underwriting Classes – Select and Standard Non-Tobacco; Select and Standard Tobacco
- Additional Riders – Terminal Illness Rider
- Renewability – Renewable to age 95
- Payment Modes – Monthly; Annually
- Other – Replacement of existing life insurance coverage is acceptable
- A.M. Best Rating – A (Excellent)
Who is The Life Insurance Company of Southwest Coverage Non-Medical Term Life Good For?
Because there is no medical exam and blood work required to obtain this coverage, it can be particularly good for those individuals who have a fear of needles. It should be noted that the insurance company only needs a very small vial of blood, it will only take a few seconds to get the blood drawn.
It can also be ideal for someone who needs coverage very quickly, such as an individual who is traveling overseas. Because there is no medical exam required for these policies, you can get coverage much quicker than with a medically underwritten policy.
With a no medical exam from Southwest, you can get insurance coverage in a few days, versus a traditional plan that could take as long as a month or even more depend on how long it takes to schedule the medical exam and for the company to review the results.
Likewise, without the need to schedule a medical examination, this coverage can also be good for those who are extremely busy and need coverage quickly. For example, oftentimes business owners need life insurance to use as collateral prior to closing on an SBA loan. This coverage can easily solve that need.
On the personal side, the birth or adoption of a child will also oftentimes bring with it the need for life insurance coverage. Getting a policy into place quickly can provide peace of mind in knowing that the child’s financial needs are covered.
It is important to note that there are some situations where this may not be the best coverage choice. For example, those who have pre-existing health issues such as diabetes, heart disease, stroke, obesity, or past issues with cancer, as well as those who are seeking more than $350,000 in life insurance coverage, may wish to seek alternative coverage.
We can help to point you in the right direction.
Likewise, for those applicants who are in good health and who do not mind taking a medical exam, it is likely that you will be able to obtain a better premium rate by going with a traditionally underwritten policy.
In any of these cases, because we work with numerous insurance companies, we can help to match you with the best possible coverage for your specific situation and needs. Even if you aren’t in perfect health, or you have a preexisting health complication, don’t assume that you can be approved for a medically underwritten policy.
There are dozens of insurance companies that specialize in working with high-risk applicants and they will approve you for insurance.
If you’re looking for a company to purchase a no medical exam policy, then Southwest could be a great choice for you. We can help you decide if they are the best policy for you and your family.
Buying Life Insurance from Southwest Insurance Company
If you’re seeking life insurance protection quickly, we may be the ideal solution for you with one of our many carriers like Southwest, Allstate Insurance or Colonial Penn. For more information or to obtain a quote, can contact us directly by calling 888-552-6159.
If you truly are exploring all the different rates from all the different companies you can, try using an independent agent or broker to facilitate this for you.
Unlike a traditional insurance agent, we represent dozens of companies across the United States. Every insurance company is different, and all of them have various ways that they calculate insurance premiums, which means that you could get drastically different quotes for the same amount of coverage.
Instead of wasting all of your time calling different companies, let us bring all of the rates directly to you.