Maine Life Insurance
Buying Maine life insurance is one of the most important financial moves you'll ever make. If you learn the basics and apply them to your personal situation, it is easy to decide what and how much life insurance you should buy.
Let InsureMe educate you—and then help you find the Maine life insurance policy you need. We'd like to lend you our experience and contacts in the life insurance industry so you can get just what you need at an affordable price.
Fill out our quote box today for up to five free Maine life insurance quotes. We're waiting to hear from you!
Undertanding Maine Life Insurance
There are many different types of Maine life insurance available, each designed to fit unique circumstances and individual needs.
Following are some of the most basic types of Maine life insurance and explanations of each. Examine each type to understand its concepts and determine which policy type best suits you.
- Term insurance: the simplest form. You purchase coverage for a specific period and, if you die during that time, your beneficiary receives the policy's value. Includes NO investment component.
- Whole life insurance: a policy purchased to cover you for your whole life, not just a set period of time. Premiums remain level while the policy is in effect, and the insurer invests a portion of your premiums, building the policy's value over time.
- Universal life insurance: used to accumulate investment. You pay a minimum premium PLUS an amount you would like invested. The insurer chooses the investment vehicle, usually only bonds and mortgages, and both your investment and its returns are placed into a cash-value account. This account may then be used to pay future premiums, or it may continue to build.
- Variable life insurance: similar to universal life insurance, but includes a broader selection of investment products, including stocks. Beneficiaries receive the policy's face value, OR that amount PLUS the value of your investment account.
Getting the Best Rates
There are five ways to ensure you get the best rates, along with the best Maine life insurance coverage:
- Always tell the truth when applying for Maine life insurance. Lack of disclosure can cause your policy to be revoked within the first two years.
- Schedule required medical tests for first thing in the morning. During this time, your blood pressure and cholesterol levels are lower and you're less stressed.
- Review your policy and reapply for lower rates when there are changes in your health.
- Use an insurance shopping service like InsureMe to shop around for your Maine life insurance. This purchase represents a big decision and a large financial commitment, so comparison shopping just makes sense!
Finding a Good Insurer
The best way to make sure you get a qualified, knowledgeable agent is to ask plenty of questions. An agent who knows a lot about Maine life insurance and has experience helping others with their purchases will mean a lot to your family when it comes time to file a life insurance claim.
When you talk to various agents, find out how long they've been in business and ask for references from satisfied customers.
Watch their responses to your questions, and see if they are willing to take the time to get to know you, your family and your situation to help you make a wise decision. A good agent will ask questions, listen to your concerns and work alongside you to provide you with the best Maine life insurance coverage they can offer.
Protections for Your Benefit
The state of Maine oversees its insurance claims procedures and policy requirements in order to protect you, the consumer.
One such protection included with your Maine life insurance policy is a required 30-day premium grace period. This means that your policy cannot be cancelled during the first 30 days for lack of payment—and coverage will continue uninterrupted as long as you update your account with your insurer.
Another consumer protection still offered by many Maine life insurance providers is a "free look" provision. This consumer-friendly feature allows you, as a new policyholder, to change your mind, decline coverage and receive a full refund of any payments you have made on your Maine life insurance during the first 10, 20 or 30 days of the policy, depending on your insurer.
Take advantage of these protections to make sure you retain the best Maine life insurance coverage possible.
Ready to Shop?
Now that you better understand your options when it comes to Maine life insurance, let InsureMe put you in contact with qualified, knowledgeable life insurance providers. Our contracted agents will listen carefully to your needs and offer you the best coverage available.
Apply online or give us a call at 800-467-8736 now for competitive, affordable quotes!
