How to Choose a Plan and Apply for Term Life Insurance

Choosing a life insurance plan is simple.  First decide how much coverage you want – say $500,000. Then decide the "term" of the coverage - 10, 20, or 30 years (20 year term is most popular).  What this means is that the coverage will be in force for the entire period of your term, and that your premiums will not go up during the entire time.

Simply answer a few health questions, provide your basic personal information (name, address, date of birth, etc.), and initial payment information.  The insurance company will then have a local person contact you to schedule a paramed exam.  They’ll come over to your house, get your weight and blood pressure, and take a urine and blood sample.  You will be notified of your approval within a couple weeks or so.

No Medical Exam Term Life Inusrance

How Much Coverage Do You Need?

Experts say you’ll need roughly 10 times your annual income in life insurance.  The chart below can help make a more accurate calculation.  This estimate is based on investing the life insurance proceeds in a conservative investment paying a 4% return, in order to generate the annual income objective, pay off debts, and fund any educational expenses.

Use this chart to calculate your own needs:

Calculation Factors Your Estimates ($) Sample Estimates ($)
1. Annual income objective
2. Minus other sources of annual income
Surviving spouse’s salary
Investment earnings
*Social Security
Pensions, annuities
Miscellaneous (rental income, etc.)
Total annual income
3. Annual income shortfall
(Subtract total of Item 2 from Item 1)
4. Amount of death benefit needed to generate annual income in Item 3
(Divide amount in Item 3 by .04)
5. Expenses
Final hospital stay/illness
Estate probate costs
Federal estate taxes
State inheritance taxes
Expense sub-total
Mortgage balance (if rent/mortgage payment not included in budget work sheet)
Education fund
Emergency fund
Other outstanding debts
Total expenses
6. Preliminary insurance needs
(Add total of Item 4 and Item 5)
7. Existing assets/other insurance    
Group life through employer
Personal life coverages
Lump-sum pension payable at death
IRA and Keogh plans
Employer savings plan, 401(k)
Other liquid assets
Total assets/insurance
8. Total life insurance needed
(Subtract total of Item 7 from Item 6)
$ $456,912

Check the Rates

To check rates for your situation, click here:  Life Insurance for Marijuana Users. This system will instantly quote the rates for the lowest-priced plans available from the companies we recommend in your area.  The very lowest rates are available to those who qualify as “Preferred”, though in most cases the company will lower it to a standard rating for marijuana users.  To qualify for these rates, you must be able to meet the following conditions:

  • Not overweight (a 5’10 male can weigh no more than 192 lbs)
  • Non-tobacco user for the past 5 years
  • Normal blood pressure
  • Normal cholesterol
  • Good driving record
  • No parents or siblings diagnosed with cancer or heart disease before age 60

“Regular” rates liberalize the limitations some.  If you have concerns about what you would qualify for, let me know and I’ll find you the best rates.

Sign Up for Coverage

Once you have decided on an amount and which plan, you can simply click the “Apply” button and apply right online.   The insurance company will contact you to set up a time for someone to come take your blood pressure and draw blood, and your coverage should be in force in just a few weeks.

If you have some health conditions that you believe may affect your rates or insurability, please give us a call at 800-913-3418, and ask for Justin, or email me at  I will answer all your questions, and help you find the plan that’s right for you.  All conversations are discreet and confidential.

Life insurance is something that is easy to put off.  Applying takes less than 15 minutes, so choose an amount and sign up now. If you have any questions, please let me know.

Best regards,

Wiley Long

Call us at (866) 429-5991 for Personal, Confidential Assistance

Next Step:
  Instant Quotes

     From our clients...

I had a court order to get life insurance and wasn't sure what I was going to do.  I have two other friends in a similar situation that you should be hearing from soon.

G. Bell
Brentwood, TN



The 420 Life Insurance
 Consumer's Guide
to Life Insurance

 First Name *
 Last Name *
 Email *
 Street Address
 Zip Code

Order Your Copy Today!

The 420 Life Insurance Consumer's Guide To Life Insurance

An easy-to-read .pdf that
gives you all the information you need to choose and apply for coverage.