The term life insurance is guaranteed renewable, meaning at the end of the term (10, 20 or 30 years), you choose whether you want to keep your coverage or not. If you opt to keep coverage, the premium will increase based on your current age, not your health, every year you choose to keep the policy (up until age 95).
Based on your age, health and tobacco use, you’ll be assigned a rate. For a typical 30-year old female that does not use tobacco products, the cost for the standard Shine insurance is $23 per month.
To be eligible you must be between 18-60 years old, a U.S. citizen or green card holder, cannot be currently disabled and must self-identify as Christian. Additionally, you must be a resident of AK, AL, AR, AZ, CO, GA, IA, ID, IL, IN, KS, KY, LA, MD, MI, MN, MO, MS, NC, NE, NV, OH, OK, PA, RI, TN, TX, UT, VA, WA, WI, WV or WY and will need to answer questions about your health history in order to determine final eligibility.
Of course! Your life is constantly evolving and your insurance should do the same. You can cancel or decrease your coverage at any time and if you would like to increase your coverage beyond the annual 3% increase option, you will likely need to apply for new coverage.
This is an automatic 3% annual increase in coverage and premiums each year, meant to keep up with inflation. You can remove this benefit at any time.
Yes, you have the option to purchase only disability insurance without term life.
A full physical exam is not required for the standard Shine package if you are under the age of 45. Basic medical information such as height, weight, blood pressure, cholesterol and current medical conditions is what is required in order for underwriting to assess your insurability and rate.
If you customize your Shine package and choose higher levels of coverage, you may be required to complete a physical exam. These can be done by a health professional in the privacy of your own home.
Chances are, if you have a relationship with the person, you can name them as a beneficiary on your contract.
If you do not name your beneficiaries in your application, your default beneficiary, in order of eligibility, will be:
- Your lawful spouse; otherwise
- Your natural or legally adopted children, in equal shares; otherwise
- Your parents in equal shares; otherwise
- The personal representative of your estate.
You can add or change your beneficiaries at any time at no cost to you by contacting us.
Term life insurance provides coverage for a specified term, typically 10, 20 or 30 years. You pay fixed monthly premiums and if you die during the term, your beneficiaries will be paid a lump sum equivalent to your coverage amount.
In comparison, whole life insurance provides coverage for your entire lifetime but the fixed monthly premiums may be significantly higher. We chose to offer term life insurance because it is the most affordable solution for providing basic protection for a growing family.
That depends on quite a few factors, including your income, how many dependents you have and whether you have a mortgage or other debts you’d be leaving behind. The standard advice is that you need enough life insurance to replace 3-7 times your income.
Underwriting is the process insurance providers use to evaluate the risk and liabilities of potential clients. Through the process, the providers determine how much coverage the client should get, how much they should pay for it and if they should accept the risk and insure them.
The time between when you become disabled until you begin receiving benefits is called the “waiting period”. For Shine, the waiting period is 90 days—this means no benefits are paid for the first 90 days. You would need to remain disabled beyond the waiting period for benefits to begin.
