AccuQuote is a leader in providing term life quotes to people across the United States. In 1986 it began operating with a single goal: to make the process of buying term life insurance as easy as possible for its customers. Their experienced professionals consistently deliver the most affordable term life insurance rates by comparing thousands of life insurance policies from dozens of top-rated carriers.

1. Importance of Binding Life Insurance Coverage
Everyone who applies for permanent or term life insurance should consider the importance of
binding life insurance coverage. Processing your life insurance policy can take up to 60 days.
During this period you are left without coverage which is not an ideal situation. Events in life are
often unforeseeable which is why you are opting for life insurance in the first place. You wouldn’t
want to take the risk of being without coverage if there is an option available.
Binding life insurance coverage allows you to enjoy the peace and security that comes from
knowing your life insurance coverage is active even before your life insurance policy is officially in
place. How does this work? A premium must be paid along with the completed application form.
The coverage begins on the date the applicant receives a conditional binding receipt. If you
qualify for life insurance, you are not left without coverage during the time it takes for underwriters
to process your life insurance policy. Since you are going to pay premiums anyway it makes
sense to secure the life of your loved ones financially during this period.
Most life insurance companies issue a conditional binding receipt when an applicant fills out the
form and submits it to the company along with the first premium. Depending on the type of
insurance you are applying for, a “binding receipt” is also called a “conditional receipt”. As the
underwriting procedure progresses, if you do not qualify for a life insurance policy, the life
insurance company will return any premiums you have paid. Applicants who are totally
uninsurable or not insurable at standard rates may not receive immediate coverage.
Everyone who is applying for life insurance should bind their coverage and get life insurance
protection as soon as possible. Not only do the benefits include a sense of security, but if your
health takes a turn for the worse during this period, your insurability will not be affected.
Binding life insurance coverage is an advantage to insurers and applicants. Most companies
issue you binding receipts when an application form is submitted along with the first premium
payment. The important issue, however, is choosing the right life insurance policy. Make sure you
check out all your options before applying for a life insurance policy. What most people don’t
know is that underwriters of different life insurance carriers use different criteria for insurability
assessment. Many carriers also have additional advantages such as waive of premium rider, or
conversion options that you can use to convert your term life insurance policy into a permanent
policy. These options may be useful to you later on.
You’ll find it easier to find the best and most affordable life insurance policy when you use online
life insurance quote providers. Their databases carry information from hundreds of reputable life
insurance carriers and can easily and instantly find quotes that match your needs. You’ll receive
multiple life insurance quotes for comparative study, free of cost and without any obligation to
purchase. Look out for the Better Business Bureau (BBB) accreditation before using online life
insurance quote providers.