Suitable For?

This service is suitable for people who are thinking about taking out life insurance but don’t have the time to do their own market research. Great Life’s insurance brokers do all the hard work for you and present you with the lowest rates and highest benefits for your circumstances, without asking for any upfront commitments or payments.

Features

Great Life exists to connect users with life insurance providers. The network includes many of the biggest names in life insurance, such as Northwestern Mutual, New York Life, Prudential Financial, and John Hancock. The list also includes smaller, specialist providers, ensuring that there are policies to meet almost any user’s needs. The educational section of the website is another free feature that many people will find useful. It includes a dictionary of life insurance terms, so you’ll never be left wondering what an agent means when they refer to terms such as “progressive underwriting,” “tabular rating,” or “adverse selection.

Application Process

To get a quote, simply fill out a short 3-step form on the Great Life Insurance Group website.

Step 1: Enter your gender, birth date, height and weight.

Step 2: Choose your preferred coverage type and amount, then disclose whether you have any medical conditions or have used tobacco in the last 12 months.

Step 3: Fill out your contact details, including telephone number.
By completing the form, you give consent to Great Life to show you life insurance rates for your needs, and to its passing on your contact details to its partners. Great Life simply acts as a referrer to the insurance companies; once you settle on your preferred policy, the final part of the application process is conducted with the provider of that policy.

Policy Types and Terms

Through Great Life’s service, users can secure competitive rates for every type of life insurance, namely Term insurance, and the different types of permanent insurance – Whole, Variable, and Universal.

Term insurance is the cheapest and most basic type of life insurance and is built to meet temporary needs for a duration of as little as 1 year or as much as 30 years. For example, you might choose to take out a term insurance policy that ends when your mortgage has been paid off or your children have left for college. Term insurance only pays the death benefit if one of the policyholders dies during the term of the policy.

Whole Life or Ordinary Life insurance involves a fixed premium and fixed death benefit. Whole Life policies typically give the policyholder the chance to earn dividends from the issuing company. Policyholders may choose to leave the dividends in the policy and have it included in the death benefit.

Variable Life insurance provides death benefits and cash values that fluctuate based on the performance of the investment portfolio associated with the policy. Users can choose from different monthly premiums with different levels of risk and reward, that typically involve a mix of stocks and bonds or interest. This type of policy is suitable for customers willing to take on additional risk in the hope of higher payouts.

Universal Life insurance is a more flexible type of permanent life insurance that allows policyholders to play around with their premium payments and death benefits. Cash values are based on the premiums the policyholder pays into the fund, with added interest and deductions for administrative expenses and fees. Variable universal life insurance is a type of cross between variable life and universal life insurance that allows users to assign their premiums to different investment options.

Summary

Great Life Insurance connects users with rates for their needs from its vast network of 76 insurance providers. Whether you’re looking for term life insurance or permanent life insurance, its brokers work to find the most suitable policy for you. Getting a quote is quick and easy free, easy and takes only a few minutes: just fill out a short form on the Great Life website and Great Life’s agents will get back to you

Great Life Insurance Group at a Glance