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Life Insurance FAQs

Below, we've addressed some common queries regarding life insurance and our Excelsior Guaranteed Insurance plan, covering topics from guaranteed premiums to selecting beneficiaries.
With Excelsior Guaranteed Life Insurance, the coverage lasts for a lifetime, providing continuous financial protection for you and your loved ones. This means that as long as you keep paying your premiums, your policy remains in effect, ensuring that your beneficiaries receive the designated benefit amount upon your passing, whenever that may be.
In the realm of life insurance, "no medical" denotes plans that don't require medical exams for eligibility. Unlike traditional plans, which entail extensive medical evaluations, these plans skip the medical scrutiny, offering a convenient alternative gaining popularity today.
Several factors influence life insurance rates, including coverage amount, age, gender, smoking status, current health, and family medical history. However, certain plans, like Excelsior, may not consider some of these factors, simplifying the process.
The death benefit is the coverage amount paid to your beneficiary upon claim approval. Typically, tax-free and provided as a lump sum, beneficiaries can allocate this benefit as they see fit, whether for final expenses like funerals or addressing outstanding debts.
Final expenses encompass various end-of-life costs, from funeral expenses to remaining debts. The Excelsior plan's benefit can alleviate these financial burdens, ensuring loved ones aren't left grappling with expenses during a difficult time.
When choosing your beneficiaries, it's essential to consider those who are financially dependent on you or may face financial hardship in your absence. Selecting beneficiaries is a deeply personal decision that warrants careful consideration involving your family. It's advisable to decide on beneficiaries before purchasing the Excelsior Guaranteed Insurance plan, providing clarity and peace of mind throughout the process.
Yes, you can secure life insurance even with pre-existing conditions. Plans like Excelsior Guaranteed Insurance don't hinge on your health status, offering coverage without medical exams, and making it accessible to individuals with pre-existing conditions.
With Excelsior Guaranteed Insurance, full coverage begins after three years of policy ownership. If death occurs within the initial two years, beneficiaries receive a full refund of premiums paid. By the third year, they're entitled to 50% of the insured sum. Additionally, a 10-day review period is available in case you need to reassess if Excelsior meets your needs.
Excelsior offers a unique advantage with its guarantee of lifetime coverage, eliminating the need for policy renewals or worrying about sudden premium hikes. This assurance ensures uninterrupted protection for you and your loved ones, providing a sense of security and stability for the long term.
While denials of life insurance claims are relatively rare, it's essential to be aware of the circumstances in which they might occur. These include situations such as the initial waiting period, during which claims may not be payable, as well as cases involving suicide or material omission of information during the application process. Understanding these factors can help ensure transparency and clarity regarding coverage expectations.
Applying for the Excelsior Guaranteed Insurance Plan is straightforward and accessible. Simply fill out our brief free quote form on our website, and one of our local advisors will provide tailored quotes. If satisfied, you can purchase coverage over the phone without medical exams.
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