Frequently Asked Questions
What is term life insurance?
Term is the lowest cost life insurance product available. When you buy
term life insurance, you are purchasing insurance which typically does
not include a cash value or a savings component. Term Life Insurance,
as the name implies, is purchased for a set "term" or length of time.
Once that term period has ended, your life insurance policy will
expire. If the insured dies within the "term period," the predetermined
death benefit will be paid to the beneficiaries.
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Why is term life insurance right for me and my
family?
Term insurance is bought by millions of people for various reasons.
Individuals and families use Term Life Insurance for security. In case
the insured passes away, your Term policy insures there will be money
to use to pay for burial expenses, credit card debt, mortgage payments
and children's education.
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Why do I need Term Life Insurance?
When you experience the loss of a loved one, the last thing you want to
worry about is how you're going to manage financially. Unfortunately,
that's precisely what happens when you don't have adequate life
insurance protection. With term life insurance offered by The Legacy Group of America
benefits help pay for funeral expenses, credit card debt, auto loans,
mortgages, children's education and more.
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Isn't it a hassle getting Life Insurance?
Do you find yourself putting off this important decision because you
just don't want to deal with the hassles? After all, who has time to
spend dealing with agents, completing stacks of paperwork and attending
invasive medical exams just to find out if you qualify? The whole
process can take days, weeks, or even months in some instances. Not any
more! The purchase process has been streamlined for you by doing away
with the time consuming tasks. Now you can even get a FREE, no
obligation
life insurance quote without ever having to take a medical exam! Give
Your Family the Life Insurance Protection They Need, Without the
Hassles!
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Will the rates increase during the life of the
policy?
No. Rates Never Increase. The premium for the coverage for which you
were approved will never increase for the guaranteed term period of the
policy.
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Will the Benefit Decrease during the life of the
policy?
No. Your benefit amount will Never Decrease. The benefit amount you
select will always be the benefit amount your family can receive as
long as your policy remains in-force.
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How are rates determined?
Individuals are rated by their age and health history.
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How much will it cost?
The cost for life insurance varies widely depending on the health and
age of the person to be insured and the coverage amount of the policy.
Individuals are generally rated by their age and health history.
Younger people and non-smokers will have lower premiums than smokers
and older people. The Legacy Group of America offers non-medical (No
Medical Exam) policies for up to $250,000 depending on your age, health
history and state of residence. To find out how much Term Insurance
will cost you based on Age, and a few easy to answer questions, try our
free Term Insurance Quote System now. There is no risk and no
obligation. Try it now.
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What about life insurance for a spouse or
children?
In certain circumstances, it may be advisable to purchase life
insurance for children; generally, however, such purchases should not
be made in lieu of purchasing appropriate amounts of life insurance on
the family breadwinner(s). It is of utmost importance that the income
earning capacity of the primary breadwinner be fully protected, if
possible, through the purchase of the required amount of life insurance
before contemplating the purchase of life insurance on children or on a
non-wage earning spouse. In a dual-earning household it is important to
protect the income earning capacity of both spouses. Life Insurance on
a non-wage earning spouse is often recommended for the purpose of
paying for household services lost at this individual's death. Over the
past several decades, our firm has brought affordable life insurance to
thousands of families and businesses. To date we have provided more
than 40,000 policy
holders with over 6 billion dollars of life insurance coverage.
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Who is the Legacy Group of America?
Over the past several decades, our firm has brought affordable life
insurance to thousands of individuals and businesses. To date we have
provided more than 40,000 policy holders with over 6 billion dollars of
Life Insurance coverage.
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Is there a toll-free number I can use to contact
the Legacy Group of America?
Yes. 1-800-245-TERM (1-800-245-8376)
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What does the "face amount" of my insurance mean?
The face amount of your policy represents the death benefit proceeds
your beneficiary will receive upon your death.
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Is my medical information shared with anyone
other than the Life Insurance Company?
Your medical information is shared only with our re-insurance partners
on a confidential basis.
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What measures are taken by The Legacy Group of
America to ensure my privacy and the protection of my personal
information?
See The Legacy Group of America's privacy statement link located at the
bottom of the page.
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How can I pay for the Policy?
Payments are accepted by credit card (American Express, Visa,
MasterCard and Discover) and Electric Funds Transfer (EFT) through your
checking account. This is an automatic deduction from your checking
account. Depending on your policy, payments are accepted by check
Annually, Semi-Annually, Quarterly or Monthly.
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How do I obtain a physical copy of my policy?
Every policy holder receives a copy of their policy in the mail.
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How do I cancel my policy prior to the
expiration of the term period I have selected?
To cancel coverage prior to the expiration of the term period, you will
need to contact the insurance company whose policy you received in the
mail. The insurance company will respond to your request for
cancellation and inform you of the procedures to follow to cancel your
policy.
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What is the free-look period (my option to
cancel my policy with no obligation) for my current coverage?
The free-look period is generally 10, 20, or 30 days; however, the time
is governed by the state in which your policy was issued. Please notice
on the first page of your policy document your specific state's
free-look period.
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Is my coverage in force during the free-look
period?
Yes, your coverage is in force during the free-look period as long as
you have paid your initial premium.
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In the event of my death, what will my
designated beneficiary have to do to receive proceeds?
As soon as your beneficiary notifies the insurance company of your
death by calling their toll-free number the company will send a Death
Claim Form to the appropriate party for completion.
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How many beneficiaries am I allowed to attach to
my insurance policy?
There is no limit to the number of beneficiaries you may include in
your policy.
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Does my policy contain a "Suicide Clause?"
Yes. The duration of the suicide clause is usually 2 years; however, it
is dependent upon the state in which the policy was issued. Please
refer to your policy for your state-specific duration. If you commit
suicide within the suicide clause time frame indicated on your policy,
the insurance company will not pay any death benefits to your
beneficiary. Instead, the insurance company will refund all premiums
paid by you to your beneficiary.
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Is there a cash value accumulating with my term
life insurance policy?
No. There is no cash value inherent with term life insurance.
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Contact us to protect yourself and your family with a term life insurance policy.
