Frequently Asked Questions

1. Why do I need life insurance?

Life Insurance can provide the peace of mind that your loved ones will be taken care of financially in the future.

Life insurance also helps cover expenses like mortgage payments, car loans, education/tuition and other debts.

2. I already have life insurance, why would I need more?

Even if you think you have enough life insurance, it’s a good idea to evaluate your coverage to make sure your family will be financially secure. Life events such as marriage, children, college tuition and perhaps even the expense of starting your own business are all factors to consider when examining your life insurance coverage needs.

How much coverage do I need?

Your licensed life insurance agent can assist you in evaluating the coverage options that best meet the needs of you and your family. Here are some helpful questions to think about when evaluating your coverage needs:

• What would your dependents need in order to cover day-to-day bills and outstanding debts/expenses that will eventually occur? For example, college expenses, mortgage, car loans and retirement savings.
• Do you currently own a life insurance policy, either individual or from the company you work for? Even if you have group life insurance, you may want to calculate whether that would be enough to cover your family’s needs, assets and financial commitments.
• You may want to reconsider whether your current coverage would be enough to cover your family’s needs if you’ve experienced any of these life events in the last few years:
• Marriage
• Divorce
• Birth of a child
• Home purchase
• Business start-up
• Saving for / Paying tuition expenses
• Retirement planning and savings

If you would like a MAPFRE representative to help you calculate how much coverage you need, please Contact us.

3. What term period should I choose?

MAPFRE Life offers term limits of 10, 15 or 20 years. In making your decision, consider both your age and the age of your dependents. For instance, if you have young children, you may want a 20 year term to ensure your children’s college expenses are covered. On the other hand, if you are already retired, your financial situation might be different, and a 10 year term policy might suit your needs better. Your licensed life insurance agent can help you determine the best policy term for your family.

4. How much would I have to pay for life insurance?

Life insurance premiums may be less than you expect. The premium you pay is dependent on your coverage limit, term period, age, and whether you are a smoker or non-smoker. Get a QUOTE now.

Additional Savings Opportunity>> Get a 2% discount on your auto insurance through The Commerce Insurance Company when you purchase a MAPFRE Life Insurance policy! Please Contact us.

5. Am I required to take a medical exam?

There is absolutely no medical exam required to purchase term life insurance from MAPFRE.

6. Can I purchase/manage my policy electronically?

MAPFRE Life allows you to complete the life application and signature process from a PC or tablet. Your policy will be emailed to you and all future premium payments may be managed electronically as well.

CONTACT US

We can provide you with a quote, assistance or simply advice, even if you are not considering buying a policy right now.

Call 1-855-MAPFRE-4 (1-855-627-3734), e-mail us at lifeinsurance@mapfreusa.com or contact your MAPFRE Independent Agent.

*MAPFRE Insurance^® is a brand and service mark of MAPFRE U.S.A. Corp. and its affiliates, MAPFRE Life insurance Company^SM (Dover, DE); American Commerce Insurance Company^SM (Columbus, OH), Citation Insurance Company^SM (Webster, MA); The Commerce Insurance Company^SM (Webster, MA); Commerce West Insurance Company^SM (Cal. COA. 06715, San Ramon, CA), MAPFRE Insurance Company^SM (Cal. COA 18643, Florham Park, NJ), MAPFRE Insurance Company of Florida^SM (Miami, FL) and MAPFRE Insurance Company of New York^SM (Garden City, NY). Not all products available in all states.

MAPFRE Life Insurance Company^SM is licensed to do business in all states except New York. Affiliated companies are not responsible for the contractual or financial obligations of MAPFRE Life Insurance Company^SM.