"Use Zander's online quoting system to search for the most competitive term life insurance plans available. Remember most people with families need 10 times their income in coverage and I recommend 15, 20 or 30 year guaranteed level plans depending on your age. Stay away from Cash Value or Return of Premium plans that waste your money. Zander only deals with top notch insurance companies and has great rates... even for those with pre-existing conditions. Call them at 800.356.4282 with any questions. They are there to help."
- DAVE RAMSEY

Term Life Insurance: Frequently Asked Questions

Why should I use Zander vs. other alternatives?

Zander provides a balance of size, experience and commitment to service that is unique in our industry. We are large enough to command the attention and accountability of the companies we represent, which helps assure that our clients receive the most competitive pricing and prompt attention to issues that arise. Our size however does not interfere with our effort to provide personalized service throughout our business relationship. Whether questions prior to applying, concerns during the application process or any other issues that arise once your policy is in effect, we are here to serve you!

What type of policies are included in the proposals you sent me?

Our proposals include term life and the new universal term products (please see the information on Universal/Term Products). All products can be quoted or illustrated on a 10, 15, 20 and 30 year basis and the premiums are guaranteed for the duration you choose. While most of the policies are renewable to age 95, the annual premiums may increase significantly after the initial guaranteed period expires, and in addition, most of the policies are convertible to permanent life insurance policies. We present all policies for your review so you can determine the best option.

I have never heard of the company recommended. Should I still consider their policy?

All carriers that we represent are top quality carriers with AM Best ratings of A-, A, A+, or A++. These are considered to be "excellent" or "superior" ratings and signify their strong ability to meet the ongoing obligations to policyholders. The ratings reflect the opinion of AM Best and are not implied warranties of the companies’ ability to meet their financial obligations. Though you may not be familiar with a company's name, we have the greatest confidence in the carriers we recommend and are proud to represent them.

Is price the only thing I should be concerned with?

With term life insurance there is no cash value, dividends, loans, investment options, etc. to be concerned with. Look for a guaranteed level product from a carrier with strong financial ratings. Remember when comparing an older policy to a new one, the number of additional years the premium is guaranteed into the future may represent an enhancement of value.

How much coverage do I need?

When determining the amount of coverage you should have, a review of your personal circumstances is necessary. A more simplified approach includes calculations based on a multiple of your income. A level generally recommended is ten times your income and then potential reductions from that calculated amount based on your personal financial situation. Elimination of your mortgage or other debts, savings in excess of your retirement plans, a spouse's continued income, and dependents that are of adult age, are all circumstances that can help reduce the necessary amount of insurance your family may need. Do not hesitate to contact us. We look forward to providing you any assistance we can.

Will I always receive the price quoted from the carrier I apply to?

NO! Each company has certain underwriting guidelines that you must meet to qualify. They are similar with most companies, but certain carriers are more flexible than others. Areas they review include: medical history, height, weight, cholesterol, driving record, family history of heart disease/cancer, hazardous sports, etc. We make every effort to provide you the most accurate and realistic proposal based on your personal circumstance whether via the internet or through a call to our service center. If you do not receive the rate quoted, the company will generally offer an alternative. You may accept it or decline it. There is no cost to you should you decide to decline.

Is a medical exam required?

A basic paramedical exam is required for most term life products. The exam is very simple and takes approximately 15-20 minutes. The examiners will typically request a blood and urine specimen, take your blood pressure and ask questions concerning your medical history. Examiners are not licensed insurance agents and are unable to assist with questions regarding your application. Please don't hesitate to contact us with any questions or concerns.

What payment plans are available?

The premiums quoted are on an annual basis. Other premium options include monthly, quarterly, and semi-annually. The monthly plans are done on an electronic fund transfer basis. Most companies charge higher premiums when premiums are paid more frequently than an annual payment as noted on the projection or illustration.

How long does the application process take?

Once we receive your application and the paramedical exam has been done, approvals typically occur within a four-week period. Longer periods can occur if scheduling your medical exam is delayed or if your medical history from your physician must be ordered. Let us know of any special time limitations and never cancel your existing policy until you are approved and have reviewed your new policy.

Are Zander and the insurance carriers presented licensed to do business in my state?

YES! Our rating program determines the best value available in your state, and Jeffrey J Zander is licensed in all states that we conduct business.

What is Universal Term?

Recently, numerous life insurance companies, including Protective Life Insurance Company and West Coast Life Insurance Company have introduced new "Universal Term" life insurance plans to compete in the term life insurance marketplace. Though the terminology "Universal Term" may cause concern these programs are actually built to resemble and function similar to term life plans and compete with their low costs. These new plans offer guaranteed level premiums (10, 15, 20 and 30 year), guaranteed death benefit, increased flexibility and have rates in many cases lower than other companies term life plans.

We only offer plans that comply with the criteria that Dave recommends to his listeners. Dave has carefully reviewed these new "Universal Term" plans and determined that they are a valuable alternative, when priced competitively, and should be considered as they offer "low cost protection" similar to traditional term life plans. This does not change, in any way, his opinion of never using a life insurance policy as a savings or investment tool. Life Insurance should be purchased for the purpose of protection only and you should never save or invest in a life insurance policy.

Should I cancel my current coverage when I apply to one of the companies Zander represents?

NO! Coverage is not in force until approved by the carrier selected, you accept the policy and payment is made. You should not cancel your existing policy until you receive the new policy and comply with any outstanding requirements, such as payment, delivery receipt, etc. Please remember that if you are replacing an existing policy the suicide and incontestability sections of the new policy will apply. Also, if you plan to discontinue a cash value type policy, you may incur surrender charges and/or have tax consequences. Your financial, legal or current insurance agent should be consulted.

What is the quickest way to get my coverage in force?

There are several things you can do to help expedite the application process. Using our internet site to apply helps reduce processing time. Be sure to include your email address, which helps us promptly contact you with any additional information requests. Also, a thorough explanation of all "yes" answers on your application, prompt scheduling of your paramedical exam, and a listing of the full name and address of all your physicians will help quicken the underwriting process.

What is a conditional receipt?

For those who want coverage in effect at the time of application, under certain limitations, companies will extend conditional coverage based on the terms outlined in their "conditional receipt". The terms must be complied with prior to conditional coverage, so careful review is imperative if selecting this option. All conditional receipts maintain limits on the amount of coverage conditionally provided and the length of time it is in force. Those using this alternative typically have no other coverage in force and have an immediate need for some form of protection. . . even if limited.