Life Insurance for Masons With the Lowest Rates in [2024]
You have some great choices
for life insurance to consider with many top-rated life insurance companies. It’s time to learn more about these choices and better understand life insurance.
As a Mason myself, with over 40 years in the fraternity (Hinsdale Lodge #934). I want to ensure that all my brethren purchase the best policy for their needs at the lowest premiums.
Purchasing life insurance is an important step. It pays to take your time and do your homework. Unfortunately, there are no Masonic Life Insurance group plans any longer, but you can still get the very best rates for individual plans especially with an agent and fellow brother that will shop the market hard for you.
Table of Contents
Understanding the Process of Buying Life Insurance
Your agent can answer all your questions and help you become a smart shopper with the confidence you are making a good purchasing decision.
As with any other product or service you plan to purchase, you should understand the basics of life insurance and the various plan
designs. You don’t have to become an expert by any means, but you need to understand the fundamentals to make an educated buying decision.
I have found that many of our brethren search for life insurance for members with only price in mind. However, you must also consider the plan design to be adequately insured.
Far too many people shop for insurance products and want to discuss the cost of insurance without understanding anything about the product they are planning on purchasing. This is putting the cart before the horse.
Four Main Plan Designs to Choose From
Term Life Insurance:
Term insurance is temporary life insurance that stays in force for a specific time. On average, affordable term life insurance is generally between 10-40 years.
Universal Life Insurance:
Universal Life is permanent insurance that lasts for the rest of your life as long as you pay the premiums. Remember that universal life insurance does cost more than term, but it lasts forever, unlike term insurance.
Whole Life Insurance:
Whole Life is another permanent product that keeps building up cash value as the year progresses, and whole life is financially impractical due to its high cost. As a result, many companies do not offer this product any longer.
Senior Life Insurance:
Senior life is also guaranteed issue life insurance, Final Expense, and Burial Insurance. It can be purchased if the individual is in poor health and can not quickly obtain conventional life insurance. In the past, the request for this final expense life insurance was regarded as funeral insurance.
It would be great if each state grand lodge offered a full line of masonic life insurance benefits to all its members, especially seniors.
Most people will find that term plan designs will be their best choice due to their low cost. However, you can also combine term products along with universal life to create an excellent life insurance portfolio.
What Determines Your Premiums for Life Insurance?
This all depends on many important factors, such as;
- Your Current Age
- Your Health History
- Driving Record (tickets, accidents, DUI, DWI, etc.)
- Your Parent’s Life Longevity (early death, cancer, or heart disease)
- Occupational Hazards (dangerous jobs)
- Dangerous Sports or Hobbies
- Height & Weight (overweight or obesity)
- Your Requested Face Amount (death benefit)
- Type of Policy Applied For (term, whole life, etc.)
- Credit Score
Your Time Is Valuable; Use It Effectively
Here are five ways people consume a lot of time shopping for life insurance with little to no success.
1. Going from one website to another for days or even weeks. They hope to find the best policy only to get more confused
as the time goes on.
2. Review redundant comparisons with the same life insurance companies on a website they have looked at previously.
3. Spend a lot of time looking at policies and plan designs that they have no product knowledge of and do not understand. Talk to an agent and let him explain how plan designs differ, it only takes a minute and it is free.
4. They activate quoting systems and use a health class from the drop-down menu that they don’t qualify for. Many consumers who have severe medical conditions are they are reviewing “Preferred Best” rates.
5. Compare the same premiums on multiple websites looking for the lowest prices and not knowing that life insurance rates are regulated by law in every state. Remember that nobody can sell the same policy with the same company for less than anyone else, not even by a penny.
Shopping for Life Insurance the Easy Way
Don’t go through all this work yourself, instead let an experienced life insurance agent do the work for you. Here are 5 ways to make it easy on yourself.
1. Locate and reach out to a knowledgeable independent insurance agent such as myself, specializing in life insurance products. Remember, there is never any cost or obligation for an agent’s help.
2. Inform us immediately if you have any medical concerns or a dangerous job. Then we can run a pre-screen if necessary, which will only take a few minutes.
3. I will explain all the life insurance plan designs you have as options.
4. You can review the best online quotes with our quoting software. On our website quoting system, you can instantly compare the best life insurance rates from over 40 of the most competitive companies.
5. Apply over the phone and we can walk you through the rest of the process step-by-step. Modern telephone applications are the only way to go and save you time.
There Is No Time Like the Present to Apply
The rates are never going to be lower than they are right now. Quoting rates go up with every passing year.
The rates will never be any cheaper than they are today. The older you are, the higher the quoting rates. Many people procrastinate about purchasing life insurance, and it only costs them more if they do ever apply. As the years go by, everyone is more likely to develop medical issues.
These conditions can possibly increase your rates and even cause you to be unable to buy life insurance. The worst mistake is procrastinating when considering purchasing life insurance. The older you get, the higher the premiums; apply and lock in your rates as soon as possible.
What Companies Have the Best Rates?
There are many excellent life insurance companies you can choose from. Of course, the best company will be the company that offers you the lowest rates. This will depend on your specific age, health, occupation, and lifestyle information. Here is an essential list of some of the best ones to consider.
- Banner Life
- Protective Life
- Prudential
- Transamerica
- American General
- Principal Financial
- Lincoln Financial
- SBLI (Savings Bank Life Insurance)
You Can Now Apply for Life Insurance in Three Different Ways
You can apply for life insurance in three ways, but the telephone application is by far the best.
Paper Applications:
Paper applications have always been the most time-consuming of all. Most people don’t appreciate a conventional 30-page application to complete. In addition, if your handwriting is not legible or you miss a question, the application will be delayed, not to mention the writer’s cramp.
Online Applications:
Modern online applications are usually much easier for the applicant to complete. The only stipulation is the applicant must have a computer and some essential internet experience.
Telephone Applications:
Telephone applications are the best way to apply for life insurance. They only take about 20 minutes, and all you have to do is listen to the question and then answer them over the phone. It does not get any easier than that. Modern telephone applications are the number one choice for applying for life insurance.
Our Final Thoughts
If you want to compare rates, complete the form on the right side of this page, or use our instant quote form. You can
quickly begin comparing the best rates from the top-rated companies.
A modern quote engine like ours will instantly display rates from over 40 insurers.
All of the premiums you see are up-to-date and accurate. Whatever you do, don’t hesitate to contact us with any questions you may have. There is never any cost or obligation for our help.
All the best,
Jack Venturi
Hinsdale Lodge #934
If you have questions about life insurance, contact us today to help you at no cost or obligation. You can also set up a time to talk seven days a week.
