Compare Top Life Insurance Companies
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Haven Life
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Fabric
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Ladder
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How to choose life insurance in Nashville
Life insurance provides a lump sum of money to designated beneficiaries upon the death of the insured individual. Having this type of insurance ensures your family has their financial needs met after you pass on, preventing financial hardship caused by your absence.
Around 60 percent of U.S. citizens had life insurance in 2018, according to a LIMRA 2018 Insurance Barometer Study. Life insurance is especially important for some people in Nashville, such as parents of special needs children who will need financial support to provide regular care through their life.
Life insurance is age-banded, meaning as each year passes, obtaining a policy becomes more expensive. Some families choose to purchase life insurance for newborns to reduce the cost, but others prefer to wait. Because of the nature of life insurance, however, waiting too long can be costly.
There are two main types of life insurance in Nashville to choose from:
- Term life insurance provides financial protection for a specified period of time, usually between one and 30 years.
- Whole life insurance provides lifetime protection, but with higher premiums than term life insurance.
Term life insurance offers fixed premiums for the duration of the agreed upon period of time. If you wish to continue the coverage after the policy expires, premiums will increase. Whole life insurance policies also have fixed premiums but at higher rates for individuals of the same age.
There are also several different types of whole life insurance, including universal life insurance. Universal life insurance uses an investment account and is more flexible than standard whole life insurance. Universal life insurance may allow you to increase the death benefit or change your premium payments after a certain point. Because of this type of insurance’s flexibility, it is often used in estate planning.
As you compare plans available in Nashville, it’s best to understand how life insurance premiums are calculated. Premiums are determined by factors including age, demographic and geographic information, overall health and even the type of car you drive. An actuary reviews this information during the underwriting process.
It’s essential to use a reputable life insurance company when obtaining a policy in Nashville because of the high value of life insurance policies and the importance of providing for your family after your death. When comparing life insurance companies in Nashville, such as MetLife, Prudential Financial and State Farm, consider the following factors:
- The agent’s knowledge, personality and communication skills
- The insurance company’s financial stability and strength
- Additional insurance products available from the company
- Available discounts from bundling life insurance with other plans
It’s best to compare plans from different Nashville life insurance companies to make sure you choose the right company for your needs.
Life Insurance Reviews
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Haven Life |
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Haven Life is an online insurance provider offering term life insurance policies for 5, 10, 15, 20 or 30 years, depending on your age and the policy you choose. The company offers two plans: its traditional term life policy and its Simple policy, which does not require a medical exam. Haven Life also offers accelerated death benefits, waivers of premiums and guaranteed renewability riders. |
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Fabric |
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Fabric offers customizable life insurance plans plus free quotes and applications online. The company has accidental death policies and life insurance policies for up to 20 years with coverage up to $5 million. It also provides no-cost will creation services. Fabric’s customer interfaces are completely online, allowing you to find information and get an estimate from your phone or computer. |
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Ladder |
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Ladder sells term life insurance policies with coverage ranging from $100,000 to $8 million and terms of 10 to 30 years. The company allows you to “ladder” your policy, adjusting coverage as your needs change. Its policies are backed by Allianz Life Insurance Company of New York and Fidelity Security Life Insurance Company. For an extra fee, you can get a price-lock guarantee, too. |
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Policygenius |
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Policygenius allows you to compare quotes from national and local life insurance providers and choose the policy that best suits your needs. If you’re unsure of the policy you require, the company’s online policy calculator will help you decide. Customers from Nashville give the company positive reviews and say its customer service representatives are helpful. |
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EverQuote |
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EverQuote provides information and resources designed to assist customers shopping for life insurance. The company also has experts available to help customers choose which policy would best protect their family. Nashville customers praise the easy application process, but some people said the insurance quotes were a little high. |
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Jordan Drake: State Farm Insurance Agent |
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Jordan Drake has 11 years of experience with State Farm Insurance and provides Nashville residents with life, auto and home insurance coverage. Customers can also find insurance-related resources on the agent’s website. Local customer reviews are overwhelmingly positive and say the team goes above and beyond for clients. |
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Farm Bureau Insurance |
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Farm Bureau Insurance and its agent, Kirk Swearingen, provide Music City residents with life, auto and home insurance policies. The company has also been the no. 1 writer of individual life insurance in Tennessee for 12 years and holds an A.M. Best A+ rating. Online reviews from local customers are positive and cite friendly and knowledgeable service. |
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