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Frequently Asked Questions

WHY SHOULD I PURCHASE LIFE INSURANCE?

Simple, Peace of mind.  At just pennies per day you can protect yourself and your loved ones against any unforeseen events, which occur everyday.  Most Americans do not have adequate Life Insurance coverage and most don't realize how simple and affordable Term Life Insurance is.

WHAT TYPE OF LIFE INSURANCE SHOULD I BUY?

There are basically two types of Life Insurance:  
  • Term Life Insurance
  • Permanent Life Insurance

Term Life Insurance is for a certain period of TIME or TERM.  For example, you may only need Life Insurance coverage for 20 years.  Permanent Life Insurance is designed to cover a person for his/her Whole Life.

SHOULD MY SPOUSE HAVE LIFE INSURANCE?

Most families have coverage on both husband and wife.  Beyond the obvious final expenses and possible legal and medical expenses, the financial strain on a family after the loss of a spouse can be significant, even if the deceased spouse was not working.

CAN I GET LIFE INSURANCE IF I AM IN POOR HEALTH?

YES! Tarkenton Insurance Agencyoffers many different kinds of Life Insurance. Including: NO-MEDICAL EXAM LIFE INSURANCE, SIMPLIFIED ISSUE LIFE INSURANCE, GUARANTEED ISSUE LIFE INSURANCE and FINAL EXPENSE LIFE INSURANCE.

IS THERE A MONEY-BACK GUARANTEE?

YES!  If at any time during the application process you change your mind for any reason whatsoever, you will receive a full refund. This FREE LOOK period continues for 10 full days after your policy is delivered to you. It's the law!

WHAT'S THE DIFFERENCE BETWEEN TERM LIFE INSURANCE AND WHOLE LIFE INSURANCE?

The two basic types of Life Insurance are Term Life and Whole Life Insurance.  Term Life Insurance allows your to choose the coverage amount and the length of the policy.  Whole Life or Permanent Life Insurance usually combines and investment product with Life Insurance.  Whole or Permanent Life Insurance is usually expensive due to the investment aspect.  Term Life Insurance is much more affordable.  

WILL I HAVE TO TAKE A MEDICAL EXAM?

Most insurers require a quick and easy exam. (Except for non-medical Insurance policies) THE EXAM IS FREE and is performed by a licensed nurse or medic. In most cases, the examiner will ask a few health questions and take a blood and urine sample.

HOW MUCH LIFE INSURANCE DO I NEED?

Here are a few guidelines that most professionals agree on in determining an appropriate amount of insurance.
  • Replace your income. If you have a young family you may need 10-20 times your annual income.
  • Cover your mortgage. If you pay rent; cover at least 5 years of rent.
  • Provide for your Childrens Education.
  • Cover the cost of Child Care.  If your children are young.  
  • Cover any other Debt obligations
  • Funeral/Last expenses

HOW LONG DOES THE APPLICATION PROCESS TAKE?

Once we receive an application, the process usually takes between 3 and 6 weeks. The average is about 30 days.

SHOULD I REPLACE MY EXISTING LIFE INSURANCE POLICY?

It is always a good idea to compare old policies with new Life Insurance Policies.  Especially since Term Life Insurance rates have decreased over the years.  However, closely compare the following factors first:  Price, Guarantee periods, convertibility, financial strength of companies, riders.  Your Tarkenton Insurance AgencyAgent can help you with your comparison.  THIS IS ONE OF OUR FREE SERVICES. Also, if it is NOT in your best interest to change to a new plan, your Quotemasters Agent will tell you.  Of course, NEVER CANCEL ANY EXISTING COVERAGE until a new policy has been approved, paid for and delivered to you.  

WHEN DOES MY LIFE INSURANCE COVERAGE BEGIN?

Your coverage does not begin until your Life Insurance policy is approved and your first premium has been paid.  Most Insurance companies provide some temporary coverage during the application process.  That is assuming certain conditions are met.  NEVER CANCEL ANY EXISTING POLICY UNTIL YOUR NEW POLICY HAS BEEN APPROVED, PAID FOR AND DELIVERED TO YOU.      

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Toll Free: 800-248-8275
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