Disadvantages of Lifefy
Age & citizenship restrictions. To qualify for a coverage supplied by Lifefy, you should be a U.S. citizen or everlasting resident between the ages of 18 and 55. In case you are over age 55, you can’t purchase a coverage from Lifefy. Though we didn’t see any Lifefy life insurance coverage opinions level this out, there may be conflicting info on their web site; their supplemental insurance coverage web page lists a special set of age restrictions for his or her assured problem coverage. Nonetheless, because the 18-55 restriction is extra outstanding and on the life insurance coverage web page, it seems to be the present, correct illustration.
No-exam insurance policies are sometimes dearer. As we talked about above, Lifefy’s polices don’t require a medical examination. And whereas that could be the best selection for some folks, what we name “non-med policies” typically value greater than a totally underwritten coverage that requires a medical examination. You don’t even have the choice to use for these cheaper, totally underwritten insurance policies via Lifefy. In case you’re on a extremely tight funds, you can be lacking out on decrease charges!
Restricted coverage varieties. Lifefy solely gives two sorts of insurance policies: time period life and assured problem. However what if you’d like protection that lasts on your complete life, and grows money worth? You’d have to work with a special dealer who gives a higher vary of coverage varieties, together with entire life. In case you’re fascinated about insurance policies which are an actual monetary asset that develop money worth over time, name us at (800) 521-7873 or e-mail us at [email protected] and we will get you quotes for these kind of insurance policies. You possibly can study extra about whole life insurance and its benefits here.
Restricted insurance coverage carriers. Lifefy solely gives insurance policies issued by SBLI and its subsidiaries. However what if a special insurer would give you the same coverage for much less? You gained’t know, as a result of Lifefy’s quoter will solely present you charges for the Stage Time period insurance policies supplied by their associate, SBLI.
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