Term Life Insurance - Welland

Finding term life insurance to protect yourself and your family just got easier! With many office locations throughout the Niagara Region, Hometown Life Insurance is proud to serve the city of Welland and the surrounding community. Integrating our small-town customer service, with our digital capabilities, we aim to provide our clients with a life insurance experience that exceeds their expectations. Gone are the days where you have to spend hours in meetings, finding the right insurance and completing an application. You can easily get a quote online or contact us to discuss your options before applying for insurance from your home. We can’t wait for you to experience the Hometown difference, and find the perfect protection for you and your family.

Your time is valuable, and spending a significant amount of it researching, pricing, and applying for life insurance probably isn’t your idea of a good time. Hometown wants to show you how our integrated customer service team and our digital platform gives you the flexibility and efficiency you need. Our focus is on getting to know you and understand what you are looking to protect with your life insurance. Is life insurance important to you as protection for your family? Do you own a business or have partners that rely on your contributions to the company? Is there a charity that you care about? We offer a variety of life insurance solutions that will meet your needs, while making sure that you feel confident and secure in the process. Our industry leading digital experience, paired with our team of skilled professionals, is here to assist you in securing your family’s future, without having to invest a lot of your time and effort. Start off by using our online quote tool to understand your coverage needs and premium costs or, if you prefer, contact our team and we will walk you through the process.

Throughout our process, you will find out the coverage that best suits you. With life insurance, there really isn’t a one-size fits all solution, and our Hometown Life Insurance team works with residents of Welland and the surrounding community to find each individual’s most suitable policy. You can even spend some time learning more about life insurance using our array of online resources, and whenever you need us, we are here to help. Providing you with a valuable service is about more than just your policy, it’s about providing you with the best possible experience each and every time. We love hearing from clients just like you, so feel free to share your thoughts with us so we can continuously grow our process and your experience.

As a young or growing family, you understand the importance of life insurance. You want to protect your family from financial hardship no matter what happens. Our team of Hometown representatives has worked with many other Welland families, just like yours, to ensure that at an already tough time, your family isn’t buried under a mountain of debt and bills. Your mortgage payments, retirement savings, education savings and monthly expenses are all paid for by the income that you earn. The income that would be lost if you passed away. Term life insurance provides you with the coverage you need, for a price you can afford. As a young family, your insurance needs may change many times over your life, but you can be confident, knowing that your insurance policy has the flexibility to match. You can find more general information on our term life insurance pages, or contact our Welland Hometown team to get started on anything we can help you with!

Premiums on term life insurance are calculated based on the answers in your application, as well as the details of the policy you are applying for. Your application will include details about your gender, age, smoking status, medical history, occupation, lifestyle, and family history. The policy details include the length of term, the coverage amount, as well as any additional riders you may add. The pricing factors in all of these details to determine your monthly premium. A standard premium will match the quote you received prior to starting the application, while someone with some health concerns or other risks may have an increased premium.

When someone passes away with life insurance, the person reporting it (beneficiary, executor, spouse, child, parent, sibling, etc.) should call our Hometown Life Insurance team first. We are here to assist you during this difficult time by gathering the information to submit to the insurance company. Our team will await any further requests or requirements from the claims department to ease your responsibilities, and work to get the claim paid out as quickly as possible.

Getting a quote and applying for your coverage will take some time, but it won’t cost you anything! Even if there are additional medical underwriting tests required, everything is covered by the insurance company. The only payment you will have to make, is your monthly premium to start and maintain your life insurance policy.

Your term insurance policy can be cancelled, without paying any fees, at any time. The monthly premiums you pay is exclusively for life insurance coverage on any term policies, so there is no cash value being built up like a permanent policy. As a result, your policy would simply terminate without any fees or penalties. However, you will want to consider some of the other implications of cancelling your policy. You may be leaving yourself and your family exposed to great financial risk without coverage. If you ever need coverage again in the future, your premiums will be higher because of your increased age and if your health worsens, you may be denied, or pay an even higher premium. Taking the time to speak to our Welland Hometown Life Insurance team is very important. They are knowledgeable and experienced and will help you understand your options, so you can make an informed decision for you and your family.

Underwriting starts with the submission of the life insurance application. The answers you provide about your health, medical details, lifestyle and occupation are reviewed by the insurance company’s underwriting team to identify the level of risk. They may request further clarification or information to better assess your situation, to ensure they can offer you the best possible premium. After the policy has been approved and the monthly premium amount is determined, you will be able to make the final decision about activating the policy and beginning to pay your premiums. 

Some of the most common “riders” are accidental death benefit, disability waiver of premium, and guaranteed insurability rider. Adding any of these riders allows you to customize your basic coverage further to meet your needs. It is not a requirement to have riders on a policy, but you may find them valuable, depending on your personal circumstances. More information about each of these riders, as well as the basics of term life insurance, can be found in the FAQ’s section of our term insurance pages.