Pros: No-exam life insurance is available. At the end of the term, you’ll need to renew the policy and will likely face much higher premiums because you’ll be notably older at that point. Why It’s Worth Pre-Qualifying for Life Insurance. Universal Life Insurance. Standard universal life insurance. Sproutt returned a premium price of $32 per month for a 20-year term life policy with a $500,000 death benefit. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance. This enables you to put coverage in place even when your budget might be tight. How much term life insurance can I get without a medical exam? Depending on the company, some offer $500k others $750k or $1MM. No Medical Exam Life Insurance. No-exam Life Insurance. (Form No. Pros of using life insurance to save for college include: Financial aid – When your child applies for financial aid for college, the savings in your life insurance account are not considered. Participating policy owners may receive dividends annually, for example, assuming their insurance company has had a profitable year. These policies dictate that if the insured dies within the waiting period, the beneficiaries receive a portion of the policy’s full death benefit — and that portion increases over time. Numerous life insurance plans include a medical examination as part of the application procedure. Whether you choose term or whole life insurance, it doesn’t matter, as long as you achieve your goal of offering financial coverage to your loved ones. While many traditional types of life insurance require a medical exam or access to your medical records, there are “no exam life insurance policies” that can give you coverage in just a few minutes. Unlike a dedicated policy, if you add a child rider, you will cover every child in your home. Accelerated policies cost about the same amount as traditional life insurance. Term Life Insurance. Application. 8 rating out of 5 stars on Trustpilot with more than 200 consumer reviews. At the end of the term, the policy owner can keep the coverage, but the life insurer can make adjustments. Coverage Amount. It is a term used by the insurance industry itself, and it might also be called an insurance provider. And some forms of coverage. Then, should you decide your child needs their own policy, you can convert it. Here is a list of typical fees that you may find on an index universal life insurance policy: Face Amount Charge Per $1,000. The advisors at Sproutt can help you find the best no-exam life insurance policy if you’re in a situation where you need to get life insurance quickly. The policy will pay you lump-sum cash to cater for anything you want. It’s performed by the same examiner who conducts the overall medical exam. Although you are most likely to speak to an insurance agent or broker, the insurance company (the insurer) is the one who underwrites your policy and pays your claims. What are the benefits of No Exam Life Insurance Sproutt life insurance? No Exam Life Insurance has a number of benefits that make it an attractive option for many people. Health, Happiness, and Life Insurance | How are These Related? Read More. Sproutt’s SmartLife enables the 1. Agents and Agencies Take your business to the next level with Sproutt! Whether you’re an individual agent or an agency owner, take advantage of Sproutt’s industry-leading resources and best-in-class support to help you. Life Insurance Glossary. Health incentive life insurance co Sproutt raises $26m. Motor Insurance. [email protected] are two other products that Sproutt offers: No exam life insurance – This is one of the ways that Sproutt is able to complete the process of quickly. Policy owners at a mutual life insurance company get two. Here are six medical issues that can affect your life insurance premiums (and that might be checked during your medical exam and blood tests ): 1. It gives the policy’s beneficiaries a predetermined amount of money in the event of the insured’s accidental death and distributes a sum of money to the insured if they lose a. Find the Best in No-Exam Life Insurance. g. Haven Life. Agents and Agencies. Age 35. Consumers. Universal Life Insurance. That means they’re the one who needs to pay the premiums to keep the policy active, but they’re also the person who can make changes to the policy — or even terminate it. Best coverage without a medical exam Haven Life, a subsidiary of MassMutual. They can initiate sales, assess potential customers’ eligibility for Sproutt’s most competitive policies, and sign them up on the spot. Re-entry term life insurance is an alternative to yearly renewable term (YRT. Accelerated policies cost about the same amount as traditional life insurance but. 2 million brokers. Guardian Life has an A+ BBB rating and an A++ (Superior) rating from A. , several months). This process is entirely online. Founded in 2019 and located in America’s insurance capital, Hartford, Connecticut, Sproutt is a life insurance marketplace that connects customers with 1. Term Life Insurance. 24 min read. No Medical Exam Life Insurance. BBB Rating. No Medical Exam Life Insurance. Universal Life Insurance. This differentiates mutual companies from privately owned ones or stock insurance companies, which focus on serving their shareholders. These are the average rates for a 30-year, $500,000 for relatively healthy male and female non-smokers in New York. Take your business to the next level with Sproutt! Whether you’re an individual agent or an agency owner, take advantage of Sproutt’s industry. Ladder — Best for High Coverage Amounts. You can buy term and whole life insurance through Sproutt, including simplified-issue and guaranteed-issue policies. Customer FAQ. See how you can Sproutt! We’re on a mission to reinvent the life insurance selling process using AI and big data to reward the ‘hidden’ health in everyone. Per the National Association of Insurance Commissioners’ (NAIC) Producer. One of Sproutt's hallmarks is providing instant term life coverage with no medical exam required. Coverage is typically capped at $500,000 or $1 million. The end result is. 20/12/2021 by thebiznix. You can buy LTC insurance as a standalone policy or, in many cases, add it as a rider to your life insurance policy. How does Sproutt Life Insurance Policy work? Sproutt is an online insurance broker. This provision exists in order to protect insurers from excess losses in challenging economic times, keeping them solvent. 2 million insurance brokers across the U. Once you are covered, you can then leverage these funds and their interest to cover your premiums, withdraw the money tax-free, and even borrow against it, tax-free as well. Mortality rates, or death rates, give insurers an established metric to inform their life expectancy projections. Here’s an overview of each offering: Term No-Exam Life Insurance: Has a duration of. And contrary to popular belief, it’s not only for people who are married or who have kids. Founded in 2019 and located in America’s insurance capital, Hartford, Connecticut, Sproutt is a life insurance marketplace that connects customers with 1. Movement. Term Life Insurance. Some of these benefits include: Quick approval. 4. But no medical exam policies can be more expensive than ones that require it. When it comes to life insurance, coverage gets expressed as the policy’s face amount, also called the death benefit or face value. No exam life insurance sproutt life insurance What is No Exam Life Insurance. This is called “no. At a certain age (usually 21), the policy’s death benefit increases. Most insurance. Founded in 2019 and located in America’s insurance capital, Hartford, Connecticut, Sproutt is a life insurance marketplace that connects customers with 1. Policy owners get to choose the coverage amount — or death benefit. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance. A disability waiver of premium is a rider added to a life insurance policy that gets activated in the event of a qualifying disability impacting the policy owner. Seeing the Options in Life Insurance without Medical Exams. The purpose of the blood test is to check for underlying diseases, health issues, and drug use. Ladder – Best for flexible coverage. Agents and Agencies Take your business to the next level with Sproutt! Whether you’re an individual agent or an agency owner, take advantage of Sproutt’s industry-leading resources and best-in-class support to help you achieve your. Mortgage Insurance. Agents and Agencies. Customer FAQ. But with this policy add-on, you get the option to buy additional life insurance coverage at a later date without having to submit new evidence of insurability, like the aforementioned medical exam. What Life Insurance without Medical Exams Costs - Sproutt Insurance Insurance5Protect those who depend on you and safeguard their future. The catch is that in order to avoid a cash value-related policy lapse, the onus is on you to avoid a missed premium-related lapse. When you apply for life insurance, the insurer usually doesn’t make a decision overnight. Securing a business loan may be more accessible if the business owner has a life insurance policy. If you want to. If you’re applying for a life insurance policy worth less than $500,000, you probably won’t have to get a medical exam if you don’t want to. As with term life insurance, Sproutt is able to offer between $50,000 and $4,000,000 in whole life insurance through the company’s many partner insurers. You can get as much as $200,000 or $300,000, in some cases,. The vast majority of policies sold on Sproutt are for term life insurance. Some life insurance policies, like no-medical exam life insurance or guaranteed-issue life insurance, skip the EOI process. Agents and Agencies. Medical exams for traditional life insurance include blood and urine tests, but not pregnancy tests. This assumes you choose and are eligible for traditional life insurance. Instead, no-lapses guarantee riders are designed to prevent policy lapses that would otherwise occur if the cash value in a universal life policy reaches zero. It provides coverage ranging from $25,000 to $500,000 with maturities ranging from five to twenty years. Savings can be used for anything. 3. With no need for a medical exam, this kind of life insurance is perfect for those in poor health fretting about providing for their loved ones or funeral expenses. Whether you apply for 10-year term life insurance, 20-year, or 30-year, the application process is the same. Then the requests start to get more detailed. These policies link your cash value growth to the performance of a specific stock market index, like the Dow Jones Industrial Average or S&P 500. g. A critical illness rider is an add-on to a life insurance policy that stipulates that should the insured be diagnosed with a qualifying critical illness, they can access their policy’s benefit while alive. The cash value of a life insurance policy is a living benefit, which means the insured can tap into that money while they’re alive. A company called Sproutt can walk you through the process to find you and your family the right coverage in less than 30 minutes, if you qualify. Bestow is an insurance provider offering term life insurance starting at $11 a month, with no medical exam required to apply. They sell policies that don’t require a medical exam, as well as policies that do. g. Critical illness rider. A reinstatement provision is a clause in some life insurance policies that allows the insured to reinstate a lapsed policy provided they meet certain parameters and execute the provision within the specified time frame. No exam life insurance is. With no-exam life insurance policies, you can get a life insurance policy quickly and without a medical exam. single premiums. org. If you die, this policy can help ensure that your loved ones have the funds they need to cover your final bills, pay your debts and/or cover specific expenses, such as education costs for children. Life Insurance Glossary. You have several ways you can use the cash value component of your policy: To take out a loan. Here are sample rates for California-based male and female non-smokers in good health for a $500,000 term policy. Ethos aims to help users sign up for and take out a life insurance policy within 10 minutes. However, they are usually only intended for those who are in very good health, and the insurance carrier will often reserve the right to request your doctor’s records. Don’t let the following misconceptions stop you from getting the coverage you need: Most common life insurance […]The new product’s Quality of Life Index (QLI) assesses the user’s lifestyle and allows Sproutt to provide a personalized set of suggestions, recommendations, and references based on the latest medical research. A blood test is a standard part of the life insurance medical exam. In other words, the parents won’t need to pay more for the. The chewing tobacco-life insurance connection varies from insurer to insurer, though. Monthly premiums start at $29 for $500,000 in coverage and $49 for $1,000,000 in coverage for healthy individuals. However, getting these life insurances in the United States and. Which life insurance policies offer loans. Customer FAQ. The difference is more than $50 a month for men and more than $30 a month for women — that’s a lot. No health qualifications. Cheapest no-exam life insurance: Legal & General America. Pros:The short answer is yes, but — the underwriting process while pregnant can be slightly more complicated (see below). The reasoning behind this statement is that, at least according to those who make this argument, first and foremost most people only need life insurance during their working and child-rearing years. Sproutt matches you with a life insurance policy that fits your lifestyle Get quotes rates online from the best life insurance companies. A premium is the amount you pay for an insurance policy. However, they are very different from each other, and each type fills a specific need. That generally includes: Serious illnesses. Agents and Agencies. First, non-forfeiture can apply when the policy owner has missed a premium payment and the grace period has expired. Life is good. Sproutt is known for its renowned and popular no medicinal approach to life insurance. You might also hear a rating called a rate class, risk class, health rating, rate classification, or underwriting class. Sproutt life insurance overview; Sproutt’s credentials;Married couples do not need to get the same type of life insurance coverage; each spouse can get their own plan based on their needs, health, and lifestyle choices. If you want a streamlined, low-cost way to cover your funeral costs, you can consider final expense insurance. Your child most likely won’t need to get a medical exam to be added to this policy. The example above allowed me the option of customizing the plan further or starting to use the plan. Without charging any commission or fees, you can use Haven Life’s website to get term life insurance. At the end of the term, the death benefit reaches $0. The policy will remain active until you die, as long as you keep paying the monthly premiums. The national average cost of life insurance without a medical exam is around $816 per year or $68 per month. Using the same consumer profile, a million-dollar term life policy would cost $59. With Sproutt, customers can apply for affordable life insurance policies, such as term, universal, and whole life, with no medical exam required for certain healthy individuals. The policy lapse means losing the death benefit, but the non-forfeiture clause protects the policy’s accumulated cash value for the policy owner. Return of premiumterm life insurancelevel-premium. Using age nearest birthday allows the life insurer to set your policy’s issue age at the age you’ll be at that upcoming birthday. Term policies are among the cheapest forms of no medical exam insurance and are offered in lengths up to 30 years. Sproutt’s SmartLife enables the 1. A non-participating policy contrasts against a participating policy, which pays dividends to the policy owner if the insurance company experiences a surplus in a specific period of time. Summary: Simplified issue life insurance policies don’t require a medical exam, but you may need to answer a short health questionnaire during the application process. It starts off by asking you simple demographic information when you walk through the process. This is similar to the way you pay a premium to keep your car insurance or home/renters insurance in effect. If the insured passes the medical exam, they can re-enter into the policy with the same terms (i. In life insurance, a medical exam is part of the underwriting process for many policies. When they do approve life insurance applications for older adults, those policies generally come with higher premiums. No Medical Exam Life Insurance Explained. Generally, that coincides with the date of the initial premium. Simplified - Most people would qualify, provided they dont have too complicated of a medical history. A single-premium life insurance policy would technically be a paid-up policy, for example, because the policy owner paid in full with. If the insured passes the medical exam, they can re-enter into the policy with the same terms (i. They may look at mortality rates for people in specific jobs, especially high-risk ones like aviation or construction, or people of a specific demographic, like age or gender. How decreasing term insurance works. , the policy benefit. In […]There is a significant difference in price for a 20-year policy and a 30-year policy. Summary of Money’s 7 Best No-Exam Life Insurance of 2023. This contrasts with life insurance that gets sold through a local insurance agent. Universal Life Insurance. Jan 3, 2022. Since it needs no medical exam, the insurance is designed. Sproutt benefits. Buying life insurance as an adult is one of the smartest decisions you can make. NEW YORK, Feb. You can buy life insurance with no medical exam. It’s a great option for people in their 20s, 30s, and even 40s—once you buy it, you can have peace of mind for the next 30 years knowing that your loved ones will have. If that happens to you, don’t panic. What is a Life Insurance Claim? A life insurance claim is a process of notifying an insurance company that the insured has died and their beneficiary wants to collect the policy’s benefit. Take your business to the next level with Sproutt! Whether you’re an individual agent or an agency owner, take advantage of Sproutt’s industry-leading. Group life insurance for businesses allows owners and employees to utilize group rates. 80. The only type of life insurance that can be bought for a child is whole, which has no expiration date. Read More. No Medical Exam Life Insurance. Two key things affect the cost of your life insurance policy: how healthy you are and the policy type you choose. Savings can be used for anything. While the negative reviews were minimal (only 2% 1-star), I did review the comments to see if I could identify recurring themes. For a male non-smoker who is in pretty good health and lives in New York, the average rates for a 15-year, $750,000 term life insurance policy are: Age 25. No exam life insurance, also known as life insurance without a physical exam, can be acquired far more quickly than regular life insurance plans, which demand a medical exam and take a lengthy time to process your application. It will be a little bit more expensive, but it should give you a route to get the policy you need. A mutual life insurance company seeks to serve the people it insures, not just because they’re paying customers, but also because they’re owners. USAA — Best for Members of the Military. g. I H1820) Note: Limitations and Exclusions may vary by state. A disclosure statement is a written document that you should receive when buying life insurance. Sproutt. Once a life insurance company deems a policy paid-up, it indicates that the policy owner no longer needs to make premium payments in order to keep that coverage in force. The steps before approval. No Medical Exam Life Insurance. Whole Life Insurance. 2 million insurance brokers across the U. $36-$46/month. 7 times more. You can get life insurance while you are pregnant. In order to be eligible for a policy loan, you need two things: A life insurance policy with cash value. If your medical history flags high risks, Sproutt can reject your application. Agents and Agencies Take your business to the next level with Sproutt! Whether you’re an individual agent or an agency owner, take advantage of Sproutt’s industry-leading resources and best-in-class support to help you achieve your. If you’re in good health and your QL index score looks good, a Sproutt advisor. Agents and Agencies. Balance. In fact, it’s the only type of insurance you’re offered during their quoting process. The broker has multiple insurance policies available to fit your unique needs, with a simple online application process and no medical exam required. As with all life insurance products, Leap Life connects you with products that vary in price depending on your personal circumstances, life insurance needs, and. Sproutt scores 4. It is sometimes called the insurance score or. They can initiate sales, assess potential customers’ eligibility for Sproutt’s most competitive policies, and sign them up on the spot. Voluntary term life insurance. By answering an online questionnaire, the platform identifies healthy behaviors—movement, sleep, emotional health, nutrition and. 2 million brokers. Best Company. The beneficiaries. 20/12/2021 by thebiznix. A medical exam is not required for no-exam life insurance. What is Re-Entry Term Life Insurance? Re-entry term life insurance is a type of renewable term insurance that periodically requires new medical underwriting. All the above life insurance can be found depending on the carrier and State up to 90 years old. Company background: Sproutt launched in 2018 with a mission to simplify and shorten. More energy and higher vitality for those maintaining a plant-based diet. . Agents and Agencies Take your business to the next level with Sproutt! Whether you’re an individual agent or an agency owner, take advantage of Sproutt’s industry-leading resources and best-in-class support to help you. Coverage. The example above allowed me the option of customizing the. In addition to this, and perhaps more importantly, 20-year-olds receive the best rates and some of the most advantageous policy terms. Guaranteed insurability option riders are optional. Unlike a traditional health insurance policy, you can use a critical illness insurance payout for anything you want. The death benefit for these policies can be up to $100,000. Agents and Agencies. Pros of using life insurance to save for college include: Financial aid – When your child applies for financial aid for college, the savings in your life insurance account are not considered. Policy Types Offered: Traditional term life. For most term life insurance policies, the term lasts between 10 and 30 years. This is the simplest and most common type of permanent life insurance. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance. Policies. No Medical Exam Life Insurance Sprout. But whole life insurance isn’t only more expensive than. com with a rating of 4. They can initiate sales, assess potential customers’ eligibility for Sproutt’s most competitive policies, and sign them up on the spot. Most employer-sponsored life insurance policies don’t require a medical exam, for example. Agents and Agencies Take your business to the next level with Sproutt! Whether you’re an individual agent or an agency owner, take advantage of Sproutt’s industry-leading resources and best-in-class support to help you achieve your. No medical exam term life insurance. What is great about applying for no exam life insurance through Sproutt is that the company works with a network of insurance providers. Established in 1900 as the Liberty National Life Insurance company, the company has the highest number of life insurance policies compared to any other company in the U. Best for Those Under 50 Years Old: Wysh. A small fee per $1,000 of life insurance coverage, an example insurer would charge 12 cents per $1,000 of insurance a year. Based on what they find, they assign a rating to you. Service. When you apply for insurance, it’s important to read through your insurance contract in its entirety before signing that you accept it. Health history. A male 60-year old non-smoker applying for the same policy as a 50-year old non-smoker can expect to pay more than $150 more in monthly premiums. Sproutt. In most cases, you won’t need a medical exam. Requirements for life insurance illustrations. At a certain point, your children will age out of this policy benefit. Group life insurance. Excellent user experience. If your medical history flags high risks, Sproutt can reject your application. The application process is considered “instant” since an approval decision is made immediately after the online application is. Founded in 2019 and located in America’s insurance capital, Hartford, Connecticut, Sproutt is a life insurance marketplace that connects customers with 1. An insurance carrier is a company that sells insurance. First, non-forfeiture can apply when the policy owner has missed a premium payment and the grace period has expired. You have the option to choose between four main types of permanent life insurance: Whole life insurance. For most term and permanent life insurance policies, that includes a medical exam and a questionnaire. Additionally, Sproutt has a 4. Agents and Agencies. Take your business to the next level with Sproutt! Whether you’re an individual agent or an agency owner, take advantage of Sproutt’s industry-leading resources and best-in-class support. Alternatively, you could choose accelerated underwriting life insurance, which skips the medical exam and streamlines the underwriting process, or guaranteed issue life insurance, which comes with no underwriting assuming you fit into the specified age bracket. They make their living on commission. This jump occurs without an increase in premiums or the need to submit any new evidence of insurability. Sproutt is an independent, online life insurance broker. State law often requires the life insurance provider to issue you a disclosure statement. Types of term life insurance. Most charitable giving riders express the amount that will be paid to the charity as a percentage of your policy’s death benefit (e. Non-forfeiture clauses can also apply when a policy owner voluntarily cancels the. Sproutt agents can offer a fully online self-serve or agent-assisted buying modes. Sproutt is accredited by the Better Business Bureau and earns an A+ rating from the organization. Because direct response life insurance removes the middle man, it cuts costs for insurers. Sproutt currently only offers no medical exam life insurance through its platform. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance; Whole Life Insurance; Customer FAQ; Agents and Agencies. A life insurance policy is a multi-page document that generally lays out the following: The insured. In this case, the policy doesn’t pay out until both insureds pass away. No Medical Exam Life Insurance is the perfect solution for people who want life insurance but do not want to go through a medical exam. 30-year term life insurance is one of the longest term life policies you can get. Myth #3: You need to go through a medical exam to get life insurance. Bestow is a digital life insurance agency. The cost of Sproutt’s life insurance coverage may be higher than other providers, with monthly premiums starting at $29 for $500,000 in coverage and $49 for $1,000,000 in coverage for a healthy. Best for Young Families: Fabric. 00 per month. Whole Life Insurance. To clarify, term life insurance is coverage with set parameters (like the policy’s premium) that last for the specified term (e. What is Variable Life Insurance? Variable life insurance is permanent life insurance that gives policy owners the option to invest the policy’s cash value into investment options offered by the life insurance company. Heart Disease. Some of these include Allianz, Guardian, Lincoln Financial Group, John Hancock, Protective, Nationwide, and Penn Mutual. Customers can complete the full online application in around five minutes and purchase 10- to 30- year term policies with up to 1. When you put your policy in place, you and the insurance provider agree on an amount of coverage, i. By considering the weight and height of an individual, the insurance company can determine the person’s BMI – body mass index. Instead, it’ll look at your individual situation. An additional death benefit is a feature of specific life insurance policies that stipulates that if the insured dies in a way that meets the outlined requirements (e. Coverage amounts span from $50,000 to $5 million, with approval contingent on a medical exam. That might require the agent to take a specific training or prove a substantial sales pipeline, for example. It uses its Qualify of Life Index to assess applicants. Sproutt Life Insurance offers term lengths that range from fifteen to fifteen years. If the individual is deemed too high-risk, the insurer can deny coverage. The amount you pay stays the same throughout the life of your policy. With traditional, guaranteed and no-exam options, most users will find. No Medical Exam Life Insurance. Types of term life insurance. Health Information You’ll Be Requested to Share on Your Life Insurance Application. When buying a life insurance policy, the owner chooses a beneficiary or. 2 million insurance brokers across the U. No medical exams, medical records, or case management. Together we work hard, learn from each other, and share a drive to succeed. Sleep. Because most heart issues typically occur in older people, it's best to get. In a study conducted by Forbes, a 30-year non-smoking male would pay 5. Thankfully, in this digital age, it’s never been easier — or more affordable — to get life insurance. No medical exam Sproutt life insurance is offered via multiple policies including some term and whole life options. With Sproutt’s no-exam life insurance option, customers can select “term” or “whole” coverage. It will obviously be more expensive than a regular policy but can give you peace of mind in trying times. No Medical Exam Life Insurance Sprout. No-exam life insurance doesn’t require a medical exam. g. For starters, they’ll usually have life insurance applicants fill out a medical questionnaire. Ethos aims to help users sign up for and take out a life insurance policy within 10 minutes. Instant-issue means that your customer can be covered, with an insurance policy in their hands, in as little as 15 minutes. In a world of uncertainty, protecting yourself and your family, whatever the circumstances may be, has become a vital part of our well-being. This is the cheaper type of life insurance, and the one that’s right for most people. d/b/a Sproutt Insurance Services. Apply Online Now. While most people buy life insurance on themselves to protect specific people or entities (like their business) from financial burden when they pass away, you may also have the option to purchase coverage on other people. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance. , 10, 20, 30), called the term. That’s where No exam life insurance sproutt life insurance comes in – a convenient option that can provide you with the coverage you need without the hassle of. No exam life insurance is self-explanatory —Life insurance without the need for a medical exam. MassMutual, originally Massachusetts Mutual Life Insurance Company, was founded in 1851and has an excellent reputation. 2 million insurance brokers across the U. Industrial life insurance, also called debit life insurance or street insurance, is a type of low-coverage policy that was traditionally marketed to workers in lower-paying industries, specifically those in industrial jobs. Read More. Universal Life Insurance. Life insurance cost is based on mortality risk statistics; if you pose a low risk, you can expect a lower premium.