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Are you searching for a complimentary life insurance quote here in Idaho? Here at the Reid Coy agency we take insurance serious. In the event an accident occurs, are your loved ones protected? None of us can predict if we might get in an accident. You need to protect your loved ones. Here in Idaho, we are a very outdoors oriented state. Many of us enjoy skiing, fishing, camping and various other outdoors activities. We want to live in an adventure. Many of us don't realize that the older we get the more premiums increase in cost. For example, a healthy 20 something individual in Idaho can get a great deal of coverage for a very low monthly payment. As we mature and start families in our thirties, we start to think about protecting our loved ones with insurance. The only problem is, monthly premiums go start to climb at 35 and beyond. By the time we are in our forties, and realize the importance of protecting our loved ones financially, rates have increased even more. If many consumers on the market today were told they can get a great insurance policy in their twenties on a thirty year term for a fraction of the cost they will pay in their thirties and forties, they may consider buying it. Typically there are four forms of life insurance coverage. The main categories are universal, whole, term and annuities. We are experts in all of these forms of life insurance. I will explain the differences below.

What is whole life insurance?

Whole life insurance is basically a form of insurance that will pay a beneficiary upon a death. This form of insurance also can accumulate a real cash value. Many consumers do not realize this type of insurance policy exists. In the event of accidental or medical related death, this policy will directly pay out to the named beneficiary. What is a beneficiary? A beneficiary is the person that is listed on the life insurance policy whom will receive the payout of the insurance policy upon the insured's loss of. This can be a spouse, a parent, a friend or loved one,or even a non-profit entity of the insureds choosing.  

What is term insurance?

Term life is a form of life insurance that can pay out benefits in the event of the insured's death based on a specified term. Many policies of this nature are for a term of 15 years, 20 years or 30 years. The longer the term, the more likely for increased costs. As we age the likely hood of death increases. This form of life policy has no cash value. It will pay out to the named beneficiary at the time of death.  These policies should be reviewed from time to time to verify that the insured still has the correct named beneficiary.   

What is Universal Insurance?

A Universal insurance policy is know as permanent insurance. Depending on policy terms the excess of your payments that are above the current cost of universal  insurance is then credited to a cash value of the policy.  This would be a long term investment type of strategy towards insurance.   The accumulated cash value can be used by the insured for retirement planning, emergency fund, or to help offset the cost of the life insurance in retirement.   

What is an annuity?

The definition of an annuity is a fixed sum of money paid to a beneficiary each calender year forever. This is a great option for consumers that have money set aside and want a safe and secure way to take a secure life long draw of those finances.

What factors impact how much life insurance will cost?

There are many factors that go in to insurance premiums. Common impacts on costs include the following but are not limited to:

1) Age of policy holder

2) Physical condition of policy holder

3) Family medical history

4) Total value of policy

5) Term of insurance policy

6) Field of work of policy holder

These are just a few of the criteria that makes up the costs.

What does it take to apply for insurance in Boise Idaho?

Applying for an insurance policy is simple. You will be given a simple form to fill out up front. Next you will be asked what type of policy would you like to apply for (term or whole). Then you will be given a risk free no obligation insurance quote. Once you decide to proceed with obtaining a policy you will then be scheduled for a physical. I will explain what to expect in the physical below. After your physical your information will be submitted to our life insurance underwriters. They will go through your application and physical data to determine what category you qualify for. In many insurance companies they have names for these categories such as preferred, preferred plus, platinum and so on. Your category will be determined by a non-bias third party that will then issue your policy based on the findings of your physical. In some instances additional medical records will be asked for. This process usually takes two to three weeks to complete. Then your insurance agent will call you and supply you with what category you qualify for, what rate you will be paying, and establish your preferred payment method for your policy. Many providers offer a small discount for automatic checking with drawl. There are also additional options such as yearly or quarterly payment. You may also qualify for a multi line discount policy. 

What should I expect when I apply for a insurance physical?

Here are a few things to expect when you apply for a life insurance physical. Typically the nurse that performs a physical will come directly to your place of business or work. This is very convenient. They will ask you to not eat any food the morning of the physical but to make sure and drink plenty of fluids. They will ask you for a urine sample. Upon arriving the nurse will ask for proper identification. Then you will be given a checklist to go through and sign and date. Typical questions on the checklist include but are not limited to: are you using drugs or alcohol, how much alcohol if you do drink, what is your family history of health, do you suffer from any disease or illness, what medications do you take, and so on. These are standard issue questions to give the underwriters information about you and your history. You will then be measured for height and weight. The nurse will take a small sample of blood and urine. The entire process takes about 20 minutes.

What is a multi line discount insurance policy?

A multi line discount policy is a discount platform based on how much total insurance is purchased through one company. For instance, if you just purchase a insurance policy from our provider, you are going to pay the highest rate. If you add additional lines of insurance with our company such as home, auto, renters, business and so on, you will qualify for a multi line discount off your premium rates. Many consumers don't realize that if you structure a policy correctly with your provider, you will pay very little for added insurance coverage. It is best to take advantage of this type of policy. Here at the Reid Coy agency, we take great pride in getting the very best multi line policies for our customers. We care more about your coverage than anything else.

What are the terms of life insurance?

Typically terms are 10, 20 and 30 years.

Insurance may be the most important insurance policy you purchase. You’d be fine & would survive losing all your stuff in house fire. But if you die prematurely there is no replacing you and your financial contribution to your family. 

Buying all your insurance from our agency makes a lot of sense. 

•    Discounts on all your other policies by having your insurance with our agency.

•    Comprehensive evaluation of your financial needs – matching level of protection across all policies to insure you have adequate coverage. You sleep better at night when you have confidence in your financial plans.  

But what type of coverage should you buy?

•    10, 20 or 30 year Term Insurance

•    Simple Term with no medical exam

•    Whole Insurance

•    Universal Insurance

•    Annuity

The options in insurance can be confusing. Sit down with us to discuss your current and future financial needs and we’ll craft a plan that works. We’ll educate you on your options and you decide what works best for you. Our philosophy is to educate so you can make an informed choice. We don’t just shove a boiler plate plan at you.  

Boise Idaho offers access to a pristine outdoor lifestyle, but that comes with risks. Make sure your family isn’t left high and dry because you put off making some hard decisions. Its never fun talking about our early demise, but we make it fun and informative. You’ll have peace knowing these matters are taken care of. Call our agency today for a free insurance evaluation.