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
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
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