3 Facts About Companion Life Insurance

Life insurance is a great safety net to invest in, regardless of how old you are. There are a variety of insurance products on the market, coming with different monthly premiums, that will provide coverage that ensures some peace of mind for your beneficiaries in the event of your passing. That’s why it’s important to explore the insurance companies within the marketplace and understand the coverage available. This includes acquiring coverage through insurers like Companion Life.

1. Free insurance quotes for Companion Life when you work with a broker.


It’s important when exploring life insurance policies to get a full grasp of the terms and conditions of a policy that’s available to you. Using a broker such as SelectQuote to shop for Companion Life Insurance is a great way to determine the best policy for your requirements. Brokers and insurance agencies alike can point out the two common variations of life insurance: whole life insurance and term life insurance. Whole life insurance provides coverage for the entirety of one’s lifetime with a set premium early on when signing to a policy. Term life insurance provides coverage for a select period of time. Working with an insurance broker can help you comb through the right policy for your specific needs and finances.

Life insurance costs can run the gambit based on the risk of the insured party. For example, a tobacco user may be deemed a high-risk customer due to the greater chance of ailments related to smoking that may result in an earlier payout of a death benefit to assigned beneficiaries. A free insurance quote will allow you to browse for exclusion under the policy that you haven’t seen before and doesn’t leave your loved ones in shock in the event of a payout.

2. Companion Life doesn’t require medical exams.


While a medical exam is usually required for the principal types of life insurance, not all insurance policies require that physical as an assessment of the current risk. Final expense insurance through the Companion Life Insurance Company requires that potential customers just fill out a few medical questions rather than undergo a physical exam for coverage. With no medical test required, the application process for final expense insurance with Companion Life is made quick and easy compared to the application process for a traditional term or whole life insurance policy.

Final expense insurance, also known as burial insurance, helps your beneficiaries take care of any of your end-of-life costs. This includes funeral expenses, credit card debt, medical bills, and any other debt you don’t want to pass on to those closest to you. After debts are covered, any remaining funds can be used how your loved ones see most fit. This is considered an appealing option for older people or those with medical complications that will have their premiums significantly skewed by risk factors under a whole life or term life insurance policy.

3. Companion Life provides financial stability.


Companion Life Insurance Company has held steadfast with a proven financial strength within the insurance community. Whether you’re seeking whole or term life insurance, you want to be sure that you are protected by a company with significant financial strength. A subsidiary of Mutual of Omaha, Companion Life has offered full-time and group life insurance plans throughout New York, New Jersey, and Connecticut for decades.

Companion Life has received an A+ financial rating from A.M. Best, a ranking deemed superior on their scale, and also has an A+ from the Better Business Bureau. If you’re between the ages of 45 and 85 and do not want to have to undergo a medical exam for life insurance coverage, this is a company with a proven track record. Beneficiaries receive their payouts in due time, and there is no denial of coverage based on preexisting conditions.

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Cecelia Greene is the Founder, Director and Editor at Big Green Gathering. She is a Portland-based wellness expert, award-winning writer, designer, and influencer. She was trained as an artist while studying in Prague through a cohort program with UCLA. She then moved to Tulum, Mexico where she still spends half of her time as a yoga and meditation instructor. She has over a decade of experience working in all areas of wellness, fitness, environmental causes, and design.

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