First stop life insurance, next stop peace of mind
…with coverage options that fit your needs!
Get multiple quotes from the top insurance companies and coverage that’s right for you and your family. You’ll be glad you did!
Speak with one of our experts!
Keeping you protected through life's journey
At Guided Solutions, we work for you, not the insurance companies. Seriously, it’s true… we’re proud to be advocates for you (hey, that rhymes).
With access to preferred rates, money-saving discounts and an advisor who cares, it’s easy to know Guided Insurance is the right choice for your business.
Want to make a claim?
What types of life insurance does Guided Solutions offer?
FAQ | Life Insurance
Life insurance provides peace of mind and support for beneficiaries upon the policy holder’s death. Those seeking information about obtaining life insurance approach us with several questions.
The answer to the question of, "who needs life insurance?" doesn't have an easy answer.
Life insurance's value depends on the well-being of those related to the policyholder. If death benefits offer aid to beneficiaries then, yes, life insurance makes sense. However, if beneficiaries are already well-off (or if there are none) then it may not make sense to get a policy.
Relationships may also play a factor in whether one decides to get life insurance. One may choose their beneficiaries who may not be family or friends. A policyholder may not choose a person, either, funneling death benefits to the estate.
Term Life Insurance
Term life insurance involves coverage for a set amount of years. Those who die within the term life timeframe will see death benefits distributed. Unfortunately, if a person passes between plans (a coverage lapse) then benefits aren't paid to beneficiaries.
Term life insurance policies are only a few years at a time. Many individuals choose this for its affordability and flexibility. One would, in essence, pick up coverage when they feel most vulnerable.
Whole Life Insurance
Whole life insurance is an on-going coverage (hence "whole life").
Once a person starts a whole life insurance policy they are locked in. The coverage combines a death benefit with additional investments (savings). In a way, it acts as both insurance and savings. A plan where the savings funnel into the plan and compound its benefits.
An individual may choose to opt-out of this form of policy, receiving a "surrender value" but at a loss. This change may occur from life-changing moments such as business success, a high-profile marriage, and/or financial windfalls.
Other Insurance Types
There are other forms of insurance such as variable life insurance, group life insurance, and more. A consultation with one's insurance company reveals which of these coverages are available.
An individual may choose to have many life insurance policies. While this is less common, it's still an option one may consider if they lead complex lives!
Life insurance is an act of caring, giving stability through the grieving process. It grants survivors time to adjust to this sudden lifestyle change, too. It is peace of mind knowing they are secure while processing the event and the arrangements.
Finally, life insurance lets a person create a lasting legacy well after they're gone. It is not an inheritance but it does help survivors thrive after the breadwinner is long gone.
Failure to disclose risky behaviors, vices, or known health issues.
Partaking in activities and/or hobbies known to be dangerous.
Taking one's life within a policy's "suicide clause" timeframe.
Obtaining a policy, traveling/moving abroad, and dying while away.
Death due to catastrophic events and disasters caused by nature.
Contesting Death Benefits
An insurance company will contest payout if there is a suspicious death. Whether it's due to illegal activities or reckless behavior, murder, and more, the insurance company will do its research.
Don't feel intimidated if health issues are present. Most deaths are covered by life insurance policies. An individual simply needs to be transparent to the company as they apply for coverage.
The best advice we can give is to be open and transparent.
Insurance companies need a complete picture of one's life. This attention to detail is to protect both policyholders and insurers. It allows proper underwriting and coverage without the risk of death benefits denial.