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The Basics You Need to Know about Life Insurance
What is life insurance? →You pay premiums to a life insurance company, and in return, they provide a payout to your loved ones if you pass away.
What is term life insurance? →A simple and affordable option to get life insurance coverage for a specific period.
Do I need life insurance? →If you have a spouse, children, people who depend on you, a home, or a business, life insurance is likely something you need.
What kind of life insurance do I need? →Your needs will determine the best option. By evaluating your coverage requirements, you can choose the policy that fits you.
When should I get life insurance? →Life insurance premiums rise with age, so it’s best to apply early for a lower rate. It’s especially important if you’ve bought a home, had or plan to have a baby, or want to provide for your family if something happens to you.
I already have life insurance through work. Is it enough? →It’s likely that the coverage isn’t sufficient, and it usually won’t continue if you leave the company.
How much coverage do I need? →Everyone has unique needs. When buying life insurance, it’s important to assess your goals to figure out how much coverage you need.
Which term length is right for me? →The amount of coverage you need can vary based on factors like your children’s age, how close you are to retirement, and your mortgage.
What is a life insurance rider? →A rider is an add-on to your life insurance policy that offers extra coverage or benefits.
What is underwriting? →How life insurance companies decide if they can insure you and determine the cost of your coverage.
What is a beneficiary? →The beneficiary is the person or people who will receive the life insurance payout if you pass away while your policy is active.
What is a death benefit? Is it taxed? →The one-time payment your beneficiary gets if you pass away, which is usually not subject to taxes.
Can I choose more than one beneficiary? →Yes, you can select more than one beneficiary for your life insurance policy.
How is accidental death different from life insurance?→Accidental death insurance covers you only if you die due to a covered accident.
Is Guaranteed Issue Whole Life right for me? →This policy option is ideal for individuals over 65 years old.
What are key features of Guaranteed Issue Whole Life Policies?→Many people choose Guaranteed Issue whole life policies for various reasons.
What are the benefits of a guaranteed issue whole life insurance policy? →No medical exams are required, premiums remain the same, the policy accumulates cash value, and approval is guaranteed.
What does life insurance cover? →Life insurance coverage can be explained in two ways: the expenses it helps with and the types of death it protects against.
What is permanent and whole life insurance?→Permanent life insurance provides coverage for your entire life and usually includes a cash value feature that grows over time.
The DIY Insurance
What makes DIY different? →DIY makes it simple for families to secure affordable life insurance and protect their loved ones.
Who is eligible to apply for a policy with DIY? →U.S. citizens and permanent residents aged 20-85 can apply in all states, except New York.
How do I know that your policies are reliable? →The policies we provide are backed by some of the top life insurance companies globally.
Does DIY offer a money-back guarantee? →Yes, every policy offers a 30-day money-back guarantee. After that period, you can cancel anytime without any additional fees
Does DIY only offer term life insurance? →At the moment, DIY provides term life insurance and guaranteed issue whole life policies.
How much coverage can I apply for? →We provide various coverage options, with amounts depending on the policyholder’s eligibility, policy type, and insurance provider.
Does DIY offer policies that include riders? →Yes, certain DIY policies come with riders.
Can I replace a policy from another company with DIY? →Depending on the product, DIY may not be able to provide coverage if you’re looking to replace your current policy.
Can I get coverage with DIY, even if I’ve had health problems? →Although coverage may be denied, your health history shouldn’t stop you from applying for life insurance.
Does DIY have agents? →Yes. DIY is designed to let you apply for life insurance on your terms.
Can I refer someone to DIY? →We appreciate referrals! Spread the word about DIY life insurance to your friends and family.
What does a policy administered by DIY cover? →In the end, the beneficiary has the freedom to choose how to use the life insurance death benefit.
Application
How do I apply? →You can easily apply for customized coverage online in just minutes. If you need assistance, we’re here to support you.
What happens after I submit my application? →Underwriters assess your application to approve it, request additional information, or deny it.
What if I change my mind during or after my application? →You can start an application and cancel it at any time without any fees
Can I change my coverage amount or term length once I apply? →Yes, you can change your coverage amount and term length even after applying.
How can I fix incorrect information on my application? →Feel free to email us at support@diylife.com anytime.
I was asked for follow-up information what does this mean? →Occasionally, underwriters may ask for more information or require clarification.
Can I speak with a real person if I have questions? →Yes, you can email us at support@diylife.com.
Will applying hurt my credit score? →No, it won’t impact your credit score.
Can I insure my spouse, parents or children? →Your spouse or adult child (ages 20-65) can apply using our standard application process.
Why does the application requires so much information? →The information provided helps determine your cost, speed up the application process, and safeguard your identity.
Why do I need DIY account to apply? →This ensures that any private information you share is protected.
How long does it takes to get a decision on my application? →Some applicants are approved right away, while others may take a few days or weeks.
How is my final price calculated? →Your final price may vary from the initial estimate as it takes into account additional information.
When does my coverage begin? →Once your application is approved and you pay the first premium, your coverage begins.
What if my birthday occurs on my application process? →After approval, an agent will assist you with any next steps if your age affects your premium.
Policy
How do I access my policy details? →You can access your details after your policy is activated through your DIY portal at app.diy.com/login.
Will my premium ever change over time? →No, all the term policies we offer come with fixed premiums, so your price stays the same throughout the term.
How do I manage my beneficiaries? →Email us at accounts@getdiy.com, and we’ll assist you in updating your beneficiaries.
How do I make premium payment and update my billing information? →Access your account at diylife.com/login to pay and update your billing information.
What happens if I miss a payment? →If you miss a payment, you’ll get a 31-day grace period. After that, your policy will expire.
How do I cancel my policy? →To cancel your policy, simply call or email us to request an electronic surrender form.
Do I get a refund if I cancel my policy? →Yes, you can cancel within the first 30 days after your policy is activated.
What happens if my coverage term ends? →When your term expires, you can renew your policy without reapplying, up until you turn 95.
How long will it take for a claim to be paid? →The claim evaluation process may vary in time, but providing your beneficiary with a copy of your policy or the insurance company’s legal name can help speed up the death benefit payout.
How do I file a claim? →To receive the death benefit payout, the beneficiary must file a claim with the insurance company.
How do I update my contact information? →To update your contact information, email us at accounts@diylife.com.
The Basics You Need to Know about Life Insurance
What is life insurance? →You pay premiums to a life insurance company, and in return, they provide a payout to your loved ones if you pass away.What is term life insurance? →A simple and affordable option to get life insurance coverage for a specific period.Do I need life insurance? →If you have a spouse, children, people who depend on you, a home, or a business, life insurance is likely something you need.What kind of life insurance do I need? →Your needs will determine the best option. By evaluating your coverage requirements, you can choose the policy that fits you.When should I get life insurance? →Life insurance premiums rise with age, so it’s best to apply early for a lower rate. It’s especially important if you’ve bought a home, had or plan to have a baby, or want to provide for your family if something happens to you.I already have life insurance through work. Is it enough? →It’s likely that the coverage isn’t sufficient, and it usually won’t continue if you leave the company.How much coverage do I need? →Everyone has unique needs. When buying life insurance, it’s important to assess your goals to figure out how much coverage you need.Which term length is right for me? →The amount of coverage you need can vary based on factors like your children’s age, how close you are to retirement, and your mortgage.What is a life insurance rider? →A rider is an add-on to your life insurance policy that offers extra coverage or benefits.What is underwriting? →How life insurance companies decide if they can insure you and determine the cost of your coverage.What is a beneficiary? →The beneficiary is the person or people who will receive the life insurance payout if you pass away while your policy is active.What is a death benefit? Is it taxed? →The one-time payment your beneficiary gets if you pass away, which is usually not subject to taxes.Can I choose more than one beneficiary? →Yes, you can select more than one beneficiary for your life insurance policy.How is accidental death different from life insurance?→Accidental death insurance covers you only if you die due to a covered accident.Is Guaranteed Issue Whole Life right for me? →This policy option is ideal for individuals over 65 years old.What are key features of Guaranteed Issue Whole Life Policies?→Many people choose Guaranteed Issue whole life policies for various reasons.What are the benefits of a guaranteed issue whole life insurance policy? →No medical exams are required, premiums remain the same, the policy accumulates cash value, and approval is guaranteed.What does life insurance cover? →Life insurance coverage can be explained in two ways: the expenses it helps with and the types of death it protects against.What is permanent and whole life insurance?→Permanent life insurance provides coverage for your entire life and usually includes a cash value feature that grows over time.
The DIY Insurance
What makes DIY different? →DIY makes it simple for families to secure affordable life insurance and protect their loved ones.Who is eligible to apply for a policy with DIY? →U.S. citizens and permanent residents aged 20-85 can apply in all states, except New York.How do I know that your policies are reliable? →The policies we provide are backed by some of the top life insurance companies globally.Does DIY offer a money-back guarantee? →Yes, every policy offers a 30-day money-back guarantee. After that period, you can cancel anytime without any additional feesDoes DIY only offer term life insurance? →At the moment, DIY provides term life insurance and guaranteed issue whole life policies.How much coverage can I apply for? →We provide various coverage options, with amounts depending on the policyholder’s eligibility, policy type, and insurance provider.Does DIY offer policies that include riders? →Yes, certain DIY policies come with riders.Can I replace a policy from another company with DIY? →Depending on the product, DIY may not be able to provide coverage if you’re looking to replace your current policy.Can I get coverage with DIY, even if I’ve had health problems? →Although coverage may be denied, your health history shouldn’t stop you from applying for life insurance.Does DIY have agents? →Yes. DIY is designed to let you apply for life insurance on your terms.Can I refer someone to DIY? →We appreciate referrals! Spread the word about DIY life insurance to your friends and family.What does a policy administered by DIY cover? →In the end, the beneficiary has the freedom to choose how to use the life insurance death benefit.
Application
How do I apply? →You can easily apply for customized coverage online in just minutes. If you need assistance, we’re here to support you.What happens after I submit my application? →Underwriters assess your application to approve it, request additional information, or deny it.What if I change my mind during or after my application? →You can start an application and cancel it at any time without any feesCan I change my coverage amount or term length once I apply? →Yes, you can change your coverage amount and term length even after applying.How can I fix incorrect information on my application? →Feel free to email us at support@diylife.com anytime.I was asked for follow-up information what does this mean? →Occasionally, underwriters may ask for more information or require clarification.Can I speak with a real person if I have questions? →Yes, you can email us at support@diylife.com.Will applying hurt my credit score? →No, it won’t impact your credit score.Can I insure my spouse, parents or children? →Your spouse or adult child (ages 20-65) can apply using our standard application process.Why does the application requires so much information? →The information provided helps determine your cost, speed up the application process, and safeguard your identity.Why do I need DIY account to apply? →This ensures that any private information you share is protected.How long does it takes to get a decision on my application? →Some applicants are approved right away, while others may take a few days or weeks.How is my final price calculated? →Your final price may vary from the initial estimate as it takes into account additional information.When does my coverage begin? →Once your application is approved and you pay the first premium, your coverage begins.What if my birthday occurs on my application process? →After approval, an agent will assist you with any next steps if your age affects your premium.
Policy
How do I access my policy details? →You can access your details after your policy is activated through your DIY portal at app.diy.com/login.Will my premium ever change over time? →No, all the term policies we offer come with fixed premiums, so your price stays the same throughout the term.How do I manage my beneficiaries? →Email us at accounts@getdiy.com, and we’ll assist you in updating your beneficiaries.How do I make premium payment and update my billing information? →Access your account at diylife.com/login to pay and update your billing information.What happens if I miss a payment? →If you miss a payment, you’ll get a 31-day grace period. After that, your policy will expire.How do I cancel my policy? →To cancel your policy, simply call or email us to request an electronic surrender form.Do I get a refund if I cancel my policy? →Yes, you can cancel within the first 30 days after your policy is activated.What happens if my coverage term ends? →When your term expires, you can renew your policy without reapplying, up until you turn 95.How long will it take for a claim to be paid? →The claim evaluation process may vary in time, but providing your beneficiary with a copy of your policy or the insurance company’s legal name can help speed up the death benefit payout.How do I file a claim? →To receive the death benefit payout, the beneficiary must file a claim with the insurance company.How do I update my contact information? →To update your contact information, email us at accounts@diylife.com.
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