If you are searching for term insurance in Lincoln, you have come to the right place! Hometown Life Insurance has an office in the Town of Lincoln and is proud to serve its citizens and the surrounding community. By providing small-town customer service and industry-leading digital capabilities, you can get the best of both worlds when it comes to your insurance needs! Contact our Hometown Life team today to get more information about term life insurance and how to secure protection for yourself and your family.
Term life insurance isn’t the one size fits all approach that you may have experienced in the past. Our team at Hometown Life Insurance is here to work with you to understand the coverage you need to protect your family, and ensure that it also fits into your budget. Our optimized process will take you through all the steps to ensure you get your perfect coverage, from obtaining a quote, to choosing your coverage, all the way to completing the application process, it’s all in a seamless digital platform. We use this to learn what is most important to you and your family. Whether you choose to move through the fully digital path or require some assistance from our highly skilled team, you have the freedom to choose how you want to secure your future.
Although there may be similarities between the type of insurance that many young families have, your need is based on your individual circumstances. Since you are likely at your peak insurance need, potentially having a mortgage, and family that relies on your income, it is likely that a term life insurance policy will be your ideal coverage. It provides a higher level of coverage for a smaller monthly premium, to ensure that you are protected while your need is the highest.
In many cases, the answer to the life insurance questions depend on your individual situation. However, when considering when you should get life insurance, the answer is always the sooner the better! Dying unexpectedly can leave your loved ones with an overwhelming financial burden of mortgage payments, debt, taxes, funeral expenses, and monthly living costs that may be unsustainable with the loss of income. When your life insurance premiums are calculated, age and health are key factors, so by applying for life insurance at a time when you are young and healthy, you are able to lock in at a lower rate for the term of your policy! Why risk your health changing, or even worse, passing away without coverage?
Your life insurance premiums will stay the same for the insurance policy’s term. So, if you have purchased a 30-year term life insurance policy, your premiums will remain the same for 30 years! After the expiry of the first term, your policy can be renewed, but it will be at a much higher premium. Don’t worry though, we will be sure to review your policy with you to evaluate your options before we get to renewal date, so your coverage can continue to match your budget and your needs!
If there comes a time where you have to make a claim on your life insurance policy, please contact us at Hometown Life Insurance. We are here to assist you through the process by submitting the information for the claim to the insurance company, and monitoring any other requests or follow up they may be required to process and pay out the claim.
When you go through the process of getting a personalized quote, applying for the policy, and any medical underwriting requirements, there is no cost to you as the owner of the policy. The only cost you will incur is when you begin paying your life insurance premiums.
Yes, you can cancel your term insurance at any time and since there is no cash value in the policy, it will simply lapse at no additional cost to you. However, it is important to consider the reasons for cancelling your policy and any alternative solutions you may have as you may require coverage again in the future. If the policy was cancelled, you would have to go through the entire process again (which could be more onerous as you age and develop health conditions). Your premiums would also increase as you no longer benefit from the premiums that were locked in at a younger and healthier time in your life. Please reach out to our team at Hometown to see if there is a better alternative for you than cancelling your policy.
Riders are additional features that can be added to your life insurance policy to customize your coverage. Some of the most common riders on term life insurance policies include accidental death benefit, waiver of premium for disability, and guaranteed insurability rider. To learn more about what each rider can do for you, check out our FAQ’s section on our term life insurance pages.