SJMag Insurance :: SJMag Insurance Agency

Frequently Asked Questions

TERM LIFE INSURANCE - DEFINED
Term Life Insurance is an Insurance Policy covering a person’s life for a specified number of years. It is often offered with a guaranteed premium for a particular number of years. Term life does not have accumulated cash value. Accumulated cash value generally is the distinction between Term life Insurance and whole life or Universal Life Insurance. Cash value policies are initially much more expensive than Term Life Insurance Policies for the same amount of coverage.

CHOOSING A TERM LIFE INSURANCE COMPANY
Term Life Insurance is very much like many common commodities in the market place. It is a product that varies very little from company to company. Typically, the main difference in the product is the cost. We provide you a comparison of approximately 25 of the best rates for your age from America’s 175 top-rated companies.
SJmag only quotes from companies with an A.M. Best rating of A- or better. As a result, you will be selecting from Insurance companies that have been assigned a superior rating of A- or better from the leading independent Insurance company rating service...A. M. Best. All you have to do is to decide the amount of life Insurance you need and how much you want to pay.

HOW MUCH LIFE INSURANCE DO I NEED?
Our Agency understands that each person has Individual Insurance needs. There is no set rule as to how much Insurance you need to purchase. You need to decide how much Life Insurance you want to leave your dependents, to carry on in your absence. You have to decide how much support you wish to provide. Many financial planning experts recommend 10 to 20 times your annual earnings. For business Life Insurance the amount is often even more. For many, the answer is simply the amount makes you feel your family is safe.

WHAT IS LEVEL RATE GUARANTEE?
A level rate guarantee simply means that your premium will not change for a guaranteed period of time. This period of time generally ranges from 5 to 30 years. Our Agency recommends that you purchase a level rate guarantee for the period of time that you intend to keep the policy in force.

WHAT PREMIUM PAYMENT OPTIONS DO I HAVE?
Our online quotes are for annual Term Life Insurance premiums. Annual Term Life Insurance premiums are the lowest rates the Insurance Company offers. However, you may instead pay for your Term Life Insurance premiums on a check-a-matic (monthly), quarterly, or semi-annual basis. These payment options are slightly more expensive than those on an annual basis.

HOW LONG WILL THIS TAKE?
The Insurance Company cannot begin underwriting your policy until you have completed your free medical exam and they have received your signed application. Generally, it takes three to four weeks to complete this process. If the Insurance Company has to get your doctor’s records it will generally take 4 to 7 weeks since the Insurance company has to depend upon your doctor’s promptness in providing them the records they need.

WHY CHOOSE TERM LIFE INSURANCE WITH SJmag?
Our Agency gives you the information you need to make your Term Life Insurance decision with complete confidence. We provide you information from the leading Life Insurance companies. We provide instant Term Life Insurance quotes, and quality service to respond to your needs. For more information, please contact us by email or by filling out our form here online.