Frequently Asked Questons:
What is term life insurance?  
Level premium term life insurance is a type of life insurance policy that provides a stated death benefit amount in exchange for a stated premium payment. The death benefit and premium payment will not change during the stated term of the policy. It has no cash value. Term periods of 10, 15, 20, and 30 years are available. A few carriers offer term periods to age 100. If the insurred dies during the policy coverage period, the insurance company pays the death benefit to the policy beneficiary. Terms and conditions are stated in the policy document.
Why does OklahomaTerm like term life insurance?  
OklahomaTerm believes that whole life insurance is the wrong policy for most people. We believe most people have the greatest need for life insuance when they have debt, have kids at home (or in college) and have little or no savings. We believe life insurance is a great financial tool to help protect family finances, but offers a poor return as a savings vehicle. Theirfore, we believe most people are better off buying term insurance for the period they have a need and simitianously investing to build up a savings for emergencies and retirement.  Term insurance is inexpensive when compared to whole life.    
When is the best time to buy life insurance?  
Before you need it.  Life Insurance is less expensive to buy when you statistically have the lowest chance of death.  This is usually when you are young and healthy. As people age, they typically qualify for inferior rate classes or possibly don't qualify at all. To preserve your rate class and obtain the best premium price, apply for a policy when you are young and healthy.  
How much life insurance do I need?
Think about your debts and your dependents. Ask youself, who will be financially hurt if you die? At the very least you should probably have enough life insurance to pay off all your debts and pay for a funeral. Some folks like having enough insurance to provide a transition period for their family or to provide a source of funding for a child’s education. Others want to leave their family a bit more to replace the deceased's lost income. Some agents throw around a general rule of 10 times your annual income, but it’s probably better to add up your debts and family needs. A bit extra miht be a good idea so that you don't find yourself underinsured 15 years down the road and unable to qualify for more besause of a health issue. If you need help, call us and we can help you determine an amount. Once you have a number, our free quoter can help you find a policy.
I'm old, do I need life insurance?
If you have debts and no savings, life insuance might be something to consider.  After you die, your debts are a part of your estate. Your debts will be accounted for during the estate setlement process and could reduce the inheritance of those that survive you. However, as people age, some manage to reduce debt and accumulate saving.  As savings goes up and debt goes down, a person's need for life insurance decreases.  This is especially true for folks living debt free, with a nice savings, and close to retirement.  Many older folks have no need for life insurance.
My health is not the best, do I need to go through underwriting?
It's typically in your best interest to go through underwriting. Policies that guarantee issue without going through underwrighting are generally very expensive and have small death benefits. Basically, these policies are written with the underlying assumption that you are in poor health, so they charge you a very high premium. Even if you have health issues, you will probably get a better premium if your go through underwriting. If you have a health issue, call us to discuss your concern. Some companies will cover folks even though they have high blood pressure, cancer or some other issues. Call us, we'll help you find the right policy.   
I'm pregnant, can I buy life insurance?
First, Congratulations!  Second, it's true that it is more dificult to buy life insurance when you are pregnant.  Many companies won't write a policy for an expectant mother.  Call us and we can discuss your options.  We want to help you.
When will I get my policy?
Think about your debts and your dependents. Ask youself, who will be financially hurt if you die? At the very least you should probably have enough life insurance to pay off all your debts and pay for a funeral. Some folks like having enough insurance to provide a transition period for their family or to provide a source of funding for a child’s education. Others want to leave their family a bit more to replace the deceased's lost income. Some agents throw around a general rule of 10 times your annual income, but it’s probably better to add up your debts and family needs. A bit extra miht be a good idea so that you don't find yourself underinsured 15 years down the road and unable to qualify for more besause of a health issue. If you need help, call us and we can help you determine an amount. Once you have a number, our free quoter can help you find a policy.
Is it better to lie about my health or tell the truth during applicaion?
In life, it's almost always better to tell the truth.  If you lie about a health issue during the application process and latter it is discovered, the insurance company may void the policy or alter the benefit payout.  In life insurance, it's better to tell the truth. 
Do we need to meet in person?
Think about your debts and your dependents. Ask youself, who will be financially hurt if you die? At the very least you should probably have enough life insurance to pay off all your debts and pay for a funeral. Some folks like having enough insurance to provide a transition period for their family or to provide a source of funding for a child’s education. Others want to leave their family a bit more to replace the deceased's lost income. Some agents throw around a general rule of 10 times your annual income, but it’s probably better to add up your debts and family needs. A bit extra miht be a good idea so that you don't find yourself underinsured 15 years down the road and unable to qualify for more besause of a health issue. If you need help, call us and we can help you determine an amount. Once you have a number, our free quoter can help you find a policy.
When will I pay the insurance?
You have several options to pay for premiums and these will be stated on the application. Small discounts are given to those that pay annually, but quarterly and monthly pymnt plans are available. Direct draft is available, but most companies are willing to invoice you if that is your preferance. You can pay the first premium with your application or wait for policy delivery. Payment will be made directly to the insurance company issuing the policy and never to OklahomaTerm.  
When will I be approved and covered?
Conditional coverage may start at the time of application if payment is submitted with the application. Underwriting and final approval can take a few to several weeks weeks. Most applicants have their policies in hand within about four or five weeks.  It's the policy owners/applicant's choice to pay at time of application or to wait until policy deliver.  Either way, way  two things need to happen to put the policy in full force.  The first is underwriting and acceptance by the insurance company.  The second is payment clearing your bank.      
I own a whole life policy, what should I do with it?
Whole life policies need to be monitored periodically. We have seen many whole life policies that where purchased many years ago and are now at risk of lapsing. Why would a whole life policy not last your whole life? Because the savings element underperformend the assumptions illustrated when the policy was purchased. Can you imagine buying an expensive whole life policy and then 30 years later getting a letter saying your whole life policy was lapsing and that you will be without the insurance you have been paying for? It happens. Call us and we can help you with a policy review.  Unless you do a policy review, you won't know the health of your policy.  

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"Buy low cost term insurance
and invest the rest"