Cost & Coverage
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People buy life insurance for a variety of reasons. Here's a case study of a single mother looking for an affordable term life insurance policy.
Brenna, 42 HR manager for a large financial company
Brenna first thinks of buying life insurance when her daughter is born, after a family member talks to her about it. She goes to an agent who's been recommended to her but is discouraged by how he keeps trying to push her into a whole policy even though everyone else has told her to avoid it. Plus, the whole life premiums she's being shown are far too expensive for her budget. After that experience, she stops looking.
Years later, as her daughter is starting high school, Brenna decides to buy a house closer to the high school that they both want her to attend. Now Brenna is in a much stronger financial place than she was fifteen years ago, and she and her daughter are already talking about college now that it's only a few years away.
Suddenly the idea of life insurance seems a lot more important to Brenna—after all, if she were gone tomorrow, her daughter would end up homeless and unable to afford any of the universities she's got her eye on.
Brenna starts shopping for life insurance on sites like Accuquote and Selectquote because she's heard of them in the past, but she dislikes the way their sites look and finds them difficult to navigate. In particular, she feels tricked that they don't immediately provide a quote after asking for her information. After an internet search, she finds Policygenius and falls in love with its simple, anonymous, streamlined flow, and how it explains why each type of information is being asked for (which is to provide the most accurate quotes in the industry). She's also able to look at reviews of the carriers and see detailed breakdowns of various riders and plan terms, which helps her get up to speed so she can comparison-shop with confidence.
The term is shorter than the mortgage on the house, but Brenna plans on selling the house after her daughter graduates high school, and anyway her daughter wouldn't be affected by the mortgage. Brenna is more concerned with making sure there's plenty of money to pay for her daughter's housing and tuition in college—and this policy will make sure that's taken care of over the next decade.
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Yes, we have to include some legalese down here. Read it larger on our legal page. Policygenius Inc. (“Policygenius”) is a licensed independent insurance broker. Policygenius does not underwrite any insurance policy described on this website. The information provided on this site has been developed by Policygenius for general informational and educational purposes. We do our best efforts to ensure that this information is up-to-date and accurate. Any insurance policy premium quotes or ranges displayed are non-binding. The final insurance policy premium for any policy is determined by the underwriting insurance company following application. Savings are estimated by comparing the highest and lowest price for a shopper in a given health class. For example: for a 30-year old non-smoker male in South Carolina with excellent health and a preferred plus health class, comparing quotes for a $500,000, 20-year term life policy, the price difference between the lowest and highest quotes is 60%. For that same shopper in New York, the price difference is 40%. Rates are subject to change and are valid as of 2/17/17.
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