Here are some examples:
Choose how much to pay for your life insurance monthly premium.
Whether you’re on a tight budget or want to pay for the highest possible coverage amount, you’ll be able to select the monthly premium rate that works best for you and your family. That rate will stay the same for as long as you own the policy and pay the premiums.
Choose the amount of coverage you want.
Regardless of the kind of life insurance you prefer, you can choose the coverage amount. For example, Gerber Life offers coverage amounts ranging from $5,000 to $50,000 and up. If you aren’t sure how much coverage you need, use our “Find Your Plan” tool.
Choose the time frame for your insurance policy.
Are you looking for insurance that covers a limited number of years? Or insurance that can continue indefinitely, even up to your entire lifetime? The choice is yours. Term Life insurance policies provide coverage for a specified period of time, such as 10 or 20 or 30 years. Whole Life insurance policies can continue non-stop for as long as you wish and pay the premiums.
Choose whether or not you want your policy to accumulate cash value.
If cash value is an important factor for you, then you’ll want to consider Whole Life insurance. As long as premiums are paid, the plan will continue to accumulate cash value.
Choose whom you want to receive the payout money if you die.
All life insurance policies allow you to specify a beneficiary (the person or person who is to receive the payout money upon your death). This must be done in writing at the time that you buy the policy; down the road, you’ll have the right to change the beneficiary at any time – you’ll again need to do this in writing on a “change” form.
Choose whether or not health questions and medical exams matter to you.
For some kinds of life insurance, coverage depends on answers to health questions and perhaps on a medical exam. Other kinds of life insurance policies have no such restrictions and have guaranteed acceptance. If these factors are important to you, be sure to include this in your decision-making.
Choose at what age to buy a life insurance policy.
Policies are available for people of all ages, including from a week old to age 65+.
Choose the kind of life insurance that works best for you.
Depending on your preferences, needs, budget and family situation, one kind of policy may be better for you than another. Before deciding which kind of policy – such as Term Life or Whole Life – is the right fit for you and your family, make sure that you have a strong understanding of how to choose a life insurance policy.
If you’d like to know how you can further create a custom life insurance policy, don’t hesitate to contact us by phone or by email.