What is life insurance?
Life insurance is a contract between you and an insurance company that pays your beneficiaries a death benefit if you pass away.
When you pass away, your beneficiary files a claim. After the insurance company receives all the necessary documentation, the claim is processed. Once approved and issued, the death benefit received by your beneficiary can help your loved ones cover expenses like housing, debts, healthcare, and funeral costs.
Do I need life insurance?
If your passing would cause financial challenges for your loved ones, including your spouse, children, or dependents, or if you have significant debts or own a business, then life insurance is a beneficial choice. Life insurance can be used to pay for burial and final expenses, replace lost income, and leave as an inheritance.
What kind of life insurance do I need?
The best type of life insurance depends on your individual needs. Found Life offers term life, final expense, whole life, and universal life insurance. Each serves different purposes, and we can help you decide which is best for you.
When should I get life insurance?
Consider obtaining life insurance during key life milestones, such as marriage, parenthood, homeownership, or starting a business. Remember, life insurance rates tend to increase annually, so it’s wise to start early.
Is my employer-provided life insurance sufficient?
Coverage through employers is often limited and may not meet all your needs. Additionally, this coverage typically ends if you leave the job. It’s advisable to have a personal policy to ensure continuous coverage.
How much coverage do I need?
Your coverage needs are unique. Found Life’s easy insurance calculator can help estimate your ideal coverage amount based on your financial situation and goals.
Which term length is right for me?
The ideal term length depends on factors like the age of your children, your mortgage terms, and your proximity to retirement. Our licensed specialists can assist you in determining the best term for your needs.
What is a life insurance rider?
A rider is an additional feature to a life insurance policy and offers extra benefits or coverage. Riders may require an additional premium and can be subject to availability. Found Life can guide you through available rider options that complement your policy.
What is underwriting?
Underwriting is the process Found Life’s chosen carriers uses to evaluate your application and determine your coverage eligibility and premium. This is based on factors like age, health, and lifestyle.
What is a beneficiary?
A beneficiary is the person or persons who receive the policy proceeds from the insurance provider if you pass away while the policy is active.
What is a death benefit? Is it taxed?
The death benefit is the lump-sum payment your beneficiary receives upon your passing. It’s tax-free income and is not subject to probate.
Can I choose more than one beneficiary?
Yes, Found Life allows you to designate multiple beneficiaries for your life insurance policy.
Found Life is a national independent life insurance agency representing some of the most competitive and trusted insurance carriers in the country. With over 35 carriers to quote, we do the heavy lifting for you to find the best policy at the best price for your needs.
What kind of insurance does Found Life offer?
Found Life offers term life, whole life, and universal life insurance. We also have access to many other types of coverage and products such as annuities, dental, disability income, hospitalization, and more.
What makes Found Life different?
Found Life combines the convenience of a fast online best-quote system with the expertise of a full-service agency. We offer tailored policies from over 35 of the nation’s top insurance carriers, so you get the best policy at the best price for your unique needs.
Does Found Life offer a money-back guarantee?
Yes, absolutely. Found Life offers a Term Life Triple Satisfaction Guarantee:
Is it cheaper to get my insurance through Found Life?
Insurance rates are regulated by law. Nobody can raise or lower your rates to entice you or make extra money. Found Life ‘s process and policies help make your financial life more efficient, which can save you money. And we can help you make your retirement strategy more effective, too… which can leave more money in your pocket.
What if I have insurance through the military or my employer?
Who is eligible to apply for a policy with Found Life?
US citizens and permanent residents aged 20–85 may apply for Found Life policies in every US state, except New York.
How do I Know Found Life’s policies are reliable?
Found Life’s policies are backed by some of the world’s most trusted insurance carriers, helping to ensure reliability and financial protection.
Does Found Life only offer term life insurance?
Found Life offers a variety of life insurance options, including term life, whole life, universal life, and guaranteed-issue whole life insurance policies.
How much coverage can I get with Found Life?
Found Life provides a wide range of coverage options, with amounts varying by policyholder eligibility, policy type, and carrier.
Do Found Life’s policies include riders?
Yes, some of Found Life’s policies include riders, offering additional coverage or benefits tailored to your needs.
Can I replace a policy from another company with Found Life?
Found Life may offer options to replace existing coverage, depending on the specific policy and product.
Can I get coverage with Found Life if I’ve had health problems?
While it’s possible to be denied coverage, our wide variety of choices minimizes that possibility. Found Life encourages individuals with a history of health problems to apply as we offer a range of options suited to different health profiles, even guaranteed issue policies.
Does Found Life have agents?
Yes, Found Life offers both an easy online quote and application process and experienced licensed insurance agents for personalized assistance.
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Can I refer someone to Found Life?
We highly appreciate referrals! Share the advantages of Found Life with friends and family.
What does a Found Life–administered policy cover?
Beneficiaries can use the death benefit from a Found Life policy as they see fit, including covering expenses such as debts and funeral costs or as a financial legacy.
Does Found Life offer a money-back guarantee?
Yes, Found Life offers a comprehensive Term Life Triple Satisfaction Guarantee, which includes three key components:
How do I apply?
You can apply for personalized coverage with Found Life’s online portal. Our process is straightforward and user-friendly, and our team is always available to assist if you have any questions.
How long does the process take?
The process can take from between 30 minutes to 2 weeks, depending on the complexity of coverage and products involved. Term life is faster, while permanent policies may take a little longer.
What happens after I submit my application?
After you submit your application, our underwriters will review it and either approve it, request more information, or, in rare cases, deny the application based on the information provided.
What if I’m turned down?
The good news is that anyone who wants life insurance can generally get it. If you are turned down for your chosen plan, chances are you could qualify for another plan and even a lower-coverage final-expense policy that’s guaranteed issue.
How much life insurance do I need?
The simple way to estimate your needs is the D.I.M.E. Method = Debts (other than mortgage), plus Income for a specific period, Mortgage payoff, and Education expenses.
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Do you have an online best-quote system?
Yes! Found Life’s online quote system finds your price quotes from 35+ of the nation’s top life insurance providers.
Can I talk to a licensed agent?
Absolutely. We have experienced licensed insurance agents ready to offer honest, clear answers, not sales tactics. Found Life’s agents are standing by to help.
Give us a call now: (800) 404-9038
If I need customer service after I’m insured, who do I call?
You can call your carrier, of course. But we advise clients to contact their agent directly. We are here to help you get coverage, maintain your coverage, and provide service as needed.
Who does my spouse call if something happens to me?
Your beneficiary should call your agent first. An agent can ease the process for your loved ones.
What if I change my mind during or after my application process?
At Found Life, you have the flexibility to start an application and withdraw from the process at any time without any penalties.
Can I change my coverage amount or term length after I apply?
Yes, with Found Life, you can adjust your coverage amount and term length even after you have applied. We aim to provide flexibility to meet your changing needs.
How can I correct any incorrect information in my application?
If you need to correct any information on your application, please email us at [email protected], and we will guide you through the process of making amendments.
Why was I asked for follow-up information?
Occasionally, our underwriters may require additional information or clarification on certain aspects of your application. This is a normal part of the process to ensure accurate policy customization.
Can I speak with a support representative if I have questions?
Absolutely! You can reach out to us at [email protected] or call (800) 404-9038 for personalized assistance from one of our experienced team members.
Will applying hurt my credit score?
Applying for insurance with Found Life does not affect your credit score.
Can I insure my spouse, parents, or children?
Your spouse or adult child (between ages 20–65) can easily apply for coverage through Found Life’s standard application process. We offer various options to fit different family needs.
Why does the application require so much information?
The detailed information requested in our application helps us determine the most accurate cost for your policy, expedite the application process, and protect your identity.
Why do I need a Found Life account to apply?
Creating an account with Found Life ensures the protection and confidentiality of any private information you share with us during the application process.
How long does it take to get a decision?
The decision time can vary. Some applicants may receive immediate approval, while it might take a few days or even weeks for others, depending on the complexity of their application.
How is my final price calculated?
Your final premium with Found Life might differ from the initial quote as it considers a more comprehensive range of information.
When does my coverage begin?
Your coverage with Found Life begins when you make your first premium payment.
Will my premium ever change over time for my Term Policy?
No. Your premium does not change during your term.
How do I manage my beneficiaries?
To make changes to your beneficiary designations, please email [email protected] for assistance.
What happens if I miss a payment?
If you miss a payment, you have a 31-day grace period. After this period, your policy may lapse.
How do I cancel my policy?
To initiate the cancellation of your policy, please contact us for an electronic surrender form.
Do I get a refund if I cancel my policy?
Yes, you are entitled to a refund if you cancel your policy within the first 30 days of activation.
What happens when my coverage term ends?
Upon your term’s end, you can renew your policy until you reach age 95, without applying again.
How long will it take to receive the claim payment?
Claim payment times can vary. Keeping your beneficiary’s records current can aid in expediting the process.
How do I file a claim?
To file a claim, the beneficiary should contact Found Life directly to initiate the payout process for the death benefit.
How do I update my contact information?
To update your contact details, please forward the new information to [email protected].