If you’re considering a human life insurance policy, consider these features: Affordable, Choice, Flexible, and Underwriting. Here’s a closer look at each. Ultimately, you should decide based on your own needs and wants, but it is essential to consider your budget first. Here are a few other considerations:
Affordable
If you’re searching for an affordable Humana life insurance policy, there are a few things that you should keep in mind. The first thing is the type of coverage you need. This coverage can vary based on age and zip code. The higher deductible plans tend to be cheaper than others, and if you have a younger spouse, you can often get a lower quote. Also, you can pay your premiums monthly, quarterly, semi-annually, or annually, or you can opt for an annual payment plan. Humana is also willing to accept payment by check, credit card, or bank draft.
Flexible
You can get flexible life insurance rates from Humana Life Insurance Company by getting a quick quote on their website. Rates depend on your age and ZIP code, but they are often lower if you choose a higher deductible or list a younger spouse as the main insured. You can pay monthly, quarterly, twice a year, or once a year. Payments can be made by credit card, bank draft, or check.
Humana offers many flexible plans with optional benefits. Choose from a Monogram, Portrait, or Autograph base plan. Then, add optional benefits like dental coverage, supplemental accident benefits, or prescription medications. If you don’t want to choose from these basic plans, consider the Monogram Plan, which is affordable and offers safety net coverage for the entire family. Its Monogram plan is also perfect for recent college grads and graduate students who aren’t covered by their parent’s health plan.
Choice
Rates and coverage vary by zip code and age, but they are generally very competitive, especially for plans with higher deductibles. For singles and married couples, Humana quotes may be lower if the primary insured is younger. Humana offers a variety of payment options, including monthly, quarterly, semi-annual, and yearly, and the premium can be paid by bank draft, check, or credit card. The instant quote page can help you determine the best rate for your individual needs.
Underwriting
Many Humana whole life insurance reviews say the underwriting process is fast and straightforward. Most people get a call within 48 hours for a short phone interview. Sometimes, you can even get conditional approval during that call. You may still need to send medical records before getting a final decision. The whole process usually takes a few days to a few weeks, depending on how fast the review goes. If you have a pre-existing condition, Humana may waive specific steps, making it easier to qualify for coverage.
Underwriting for Humana individual life insurance is changing for risk-rated groups. Instead of just looking at health history, Humana will now use its own risk-analytic system. This tool collects data on a person’s health and how they use their insurance to create a total risk score. While many other companies use outside tools like Milliman’s GRx, Humana’s in-house system helps offer level-funded quotes for employers with 10 to 90 members. This new method aims to give more accurate and fair pricing based on real data.
Cost
Humana offers a number of plans, each with different rates and features. Rates vary depending on your zip code and age, but they’re generally competitive. Rates go down significantly with a younger spouse who’s the primary insured. Premiums can be paid monthly, quarterly, semi-annually, or annually. You can pay by credit card or monthly bank draft. Getting a quote online is quick and easy.
Individuals can choose from three basic plans – the Portrait Plan, Monogram Plan, and Autograph Plan. Each plan offers different benefits and deductibles, so you can customize your insurance to meet your needs. Humana plans can also be customized with optional extras like dental and vision benefits, as well as prescription medication. For a lifetime of peace of mind, Humana offers life insurance plans with an optional annual deductible of $2,000 or more.
