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  • Writer's pictureJohn A. White

Life Insurance Made Easy: A Comprehensive Guide

1. Introduction

Life insurance is a crucial financial safety net for individuals and their families. However, the traditional process of obtaining life insurance can be time-consuming and involve medical exams. Ameritas Instant Term Life Insurance offers a simplified alternative with no labs or medical exams required. This comprehensive guide will explore the features, benefits, and strategic usage of Ameritas Instant Term Life Insurance.



2. Understanding Ameritas Instant Term Life Insurance

Ameritas Instant Term Life Insurance provides a streamlined path to term coverage. The application process is initiated online, and applicants receive a link to complete and submit the application for an instant decision. The platform incorporates health guardrails to ensure clients receive the best coverage option. Individuals must meet specific criteria to qualify for Ameritas Instant Term Life Insurance.


3. Qualification Criteria

The following criteria determine eligibility for Ameritas Instant Term Life Insurance:


  • Maximum issue age: The maximum issue age varies depending on the term period. For 10-, 15-, and 20-year terms, the maximum issue age is 60. For a 25-year term, it is 55, and for a 30-year term, it is 50.

  • Minimum issue age: The minimum issue age is 18.

  • Geographic restrictions: Ameritas Instant Term Life Insurance is not available for residents of New York.

  • Citizenship or residency status: The insured must be a U.S. citizen or a full-time permanent resident. Temporary visa holders are not eligible.

  • Health conditions: Applicants should not have any significant medical conditions.

  • Routine healthcare participation: Insured individuals over the age of 50 must be actively participating in routine healthcare.

  • Eligible risk classes: The eligible risk classes for instant decision coverage include Preferred Plus Nontobacco, Preferred Nontobacco, Select Nontobacco, Standard Nontobacco, Preferred Tobacco, and Standard Tobacco. Substandard and rated classes require full underwriting, which may involve fluids and/or medical records.

  • Financial underwriting guidelines: Applicants must meet current financial underwriting guidelines, including no bankruptcy in the last five years.

  • Prior coverage history: No prior rated or declined coverage is allowed.

  • Coverage limit: The total coverage amount, including existing and applied-for Ameritas life insurance policies, cannot exceed $5 million.


4. Benefits for Clients

Ameritas Instant Term Life Insurance offers numerous benefits to clients, making it an attractive option for those seeking quick and efficient coverage. The key benefits include:


  • Competitive pricing: Clients can enjoy affordable premiums for their term coverage.

  • Immediate decision: Qualified applicants receive an instant decision, eliminating the need for lengthy waiting periods.

  • No labs or medical exams: Ameritas Instant Term Life Insurance bypasses the need for medical exams, making it a convenient option for individuals with busy schedules.

  • High instant-issue face amount: The policy provides a substantial amount upon approval, ensuring comprehensive coverage.

  • Flexibility and convenience: The application process can be completed at the client's convenience, providing flexibility and ease of use.

  • Additional riders: Clients can add riders such as accidental death benefit and waiver of premium for an additional charge.

  • Same payor discount: While not available on the platform, clients can contact their new business representative to inquire about the same payor discount.


5. Strategic Usage of Ameritas Instant Term

Ameritas Instant Term Life Insurance can be strategically used for various purposes. Consider the following scenarios where Ameritas Instant Term can provide the necessary coverage:


  1. Paying burial and final expenses: Life insurance proceeds can cover funeral and burial expenses, relieving the financial burden on loved ones during a difficult time.

  2. Replacing lost wages or income: In the event of the insured's untimely death, life insurance can provide income replacement for their dependents, ensuring financial stability.

  3. Paying off the mortgage or other home expenses: Life insurance can be used to pay off a mortgage or other home-related expenses, allowing surviving family members to maintain their residence.

  4. Estate planning and liquidity: Life insurance can help cover estate taxes and create liquidity, ensuring the smooth transfer of assets to beneficiaries.

  5. Funding education: Life insurance proceeds can be designated for funding a child's education, providing financial support and access to quality education.

  6. Beneficiary designation in divorce decrees: Life insurance can be used to fulfill obligations outlined in divorce decrees, ensuring financial protection for the designated beneficiaries.


6. Competitive Pricing and Immediate Decision

One of the standout features of Ameritas Instant Term Life Insurance is its competitive pricing. Clients can secure term coverage at affordable premiums, making it an accessible option for individuals seeking financial protection. Additionally, qualified applicants receive an immediate decision, eliminating the uncertainty associated with traditional underwriting processes.


7. Flexibility and Convenience

Ameritas Instant Term Life Insurance offers unparalleled flexibility and convenience. The entire application process can be completed online, allowing clients to apply for coverage at their convenience. This digital approach saves valuable time and effort, providing a hassle-free experience.


8. Additional Riders and Discounts

Clients can enhance their Ameritas Instant Term Life Insurance policy with additional riders. These riders, such as the accidental death benefit and waiver of premium, provide extra coverage and financial protection in specific scenarios. While the same payor discount is not available on the platform, clients can contact their new business representative for more information on this potential discount.


9. Conversion Options

Ameritas Instant Term Life Insurance offers conversion options for policyholders. Individuals can convert their term coverage to a designated Ameritas individual permanent life insurance product, subject to specific conditions. The conversion is available up to a maximum attained age of 70 and allows policyholders to maintain the same underwriting class during policy years 3 to 5 for all term periods. The conversion window for the 10-year term period extends from years 6 to 8, while for all other term periods, it extends from years 6 to 10.


10. Strategies for Coverage

Ameritas Instant Term Life Insurance provides a versatile solution for various coverage strategies. The policy can be utilized to:


  • Pay for burial and final expenses, ensuring that these costs do not burden loved ones.

  • Replace lost wages or income, protecting the financial stability of dependents.

  • Settle outstanding mortgage or home-related expenses, allowing surviving family members to maintain their residence.

  • Facilitate estate planning and create liquidity, ensuring a smooth transfer of assets.

  • Fund education expenses, providing children with access to quality education.

  • Fulfill obligations outlined in divorce decrees, safeguarding the financial well-being of designated beneficiaries.


11. Conclusion

Ameritas Instant Term Life Insurance offers a simplified and efficient path to term coverage. With no labs or medical exams, clients can obtain life insurance quickly and conveniently. The policy's competitive pricing, immediate decision, and flexibility make it an attractive option for individuals seeking financial protection. Whether for burial expenses, income replacement, mortgage payment, estate planning, education funding, or divorce obligations, Ameritas Instant Term Life Insurance provides a comprehensive solution for various coverage needs.

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