NEW YORK, Feb. This can yield faster cash value growth, but it also means the policy owner takes on greater risk if their chosen investments. This is a lump sum of money (e. Of course, this also means the potential of saving on your life insurance. Severe injuries. Plus, if you have a health condition that disqualifies you from other types of life insurance coverage, the lack of a medical exam can be a boon. With this. No Medical Exam Life Insurance. The simplified issue process streamlines things, enabling you to get coverage in a matter of days rather than weeks. You have several ways you can use the cash value component of your policy: To take out a loan. They also look you up in the MIB Group database and get a copy of your motor vehicle record. Term Life Insurance. Unlike a dedicated policy, if you add a child rider, you will cover every child in your home. g. This is similar to the way you pay a premium to keep your car insurance or home/renters insurance in effect. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance; Whole Life Insurance; Customer FAQ;. The end result is. Agents and Agencies. , monthly or annually) or in one lump sum when you first purchase the policy. We provide content that can help you assess and even improve different aspects of your daily routine and overall lifestyle. If that's what you're looking for, you can be covered in as little time as it takes to answer a. , several months). 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. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance. Life Insurance Tip: If you need more than $500,000 life insurance with no medical exam coverage, you can opt for additional policies from another life insurer. A Term Life Insurance. Life insurance contracts are multi-page documents outlining a variety of important legal aspects pertaining to the insurance coverage that the policy owner has purchased. There are 4 main types of life insurance policies that fall under the “no exam” Medical Insurance: None of them require a medical exam. Best Company. 2 million insurance brokers across the U. , the same premium). 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. The majority of term life policies are level premium policies. It outlines all of the key aspects of your policy. 30-year term life insurance is one of the longest term life policies you can get. Haven Life is a one-stop shop for finding insurance. No Medical Exam Life Insurance Sprout. Whole Life Insurance. Joint survivor life insurance can be a good fit for people who feel comfortable. Sproutt insurance offers a no-exam option that allows you to apply for coverage without undergoing a medical exam. Third-party ratings. This enables you to put coverage in place even when your budget might be tight. Life is good, And it can even get better. Contesting life insurance In an effort to prevent fraud, life insurance companies might investigate the death of an insured , especially if they pass away shortly after the policy was purchased. With Sproutt’s no-exam life insurance option, customers can select “term” or “whole” coverage. , 1% or 2%). If they find that the insured falsified information or misled them during the underwriting process (e. Most insurance providers have age restrictions on their child riders. Securing a business loan may be more accessible if the business owner has a life insurance policy. No exam life insurance is. When you put your policy in place, you and the insurance provider agree on an amount of coverage, i. Because direct response life insurance removes the middle man, it cuts costs for insurers. No-exam Life Insurance. g. 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. 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. The example above allowed me the option of customizing the. 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. If you don’t want to go through the hassle of a medical exam, Sproutt offers a no-exam option that will provide you with fast approval. Questions about your. 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. Movement. In other words, this rider only works if you. Return of premiumterm life insurancelevel-premium. Haven Life’s Haven Simple is a no-medical-examination term life insurance policy. g. Voluntary term life insurance. ”. No-exam life Insurance Term Life Insurance Whole Life Insurance Sproutt life insurance offers a one-stop shop to get life insurance without taking a medical exam. The highest on. read more. Coverage is typically capped at $500,000 or $1 million. 80. They are also one of the few that sells whole life online. Use it to choose your best rate and policy options. More energy and higher vitality for those maintaining a plant-based diet. State law and insurance producers. They make their living on commission. Numerous life insurance plans include a medical examination as part of the application procedure. This way, you’re covered by multiple no exam policies. 2 million insurance professionals in the US to offer tailored life insurance policies to their customers quicker and more easily. Ladder – Best for flexible coverage. In order to be eligible for a policy loan, you need two things: A life insurance policy with cash value. 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. Whole life insurance without a medical exam, will often have higher premiums than a term life insurance policy with no medical exam that cannot accrue cash value. Participating policies may pay dividends, which can be used to pay premiums or for other purposes. 75. But no medical exam policies can be more expensive than ones that require it. 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. It is sometimes called the insurance score or. However, they are very different from each other, and each type fills a specific need. Fill out an online application and get a decision in real time. Sproutt. You and your clients demand convenience and speed. While there are other types of insurance that step in when you get diagnosed with a specific illness (e. The no-exam policy with SBLI never requires a medical exam up to $750k and has all the health classes. In a study conducted by Forbes, a 30-year non-smoking male would pay 5. Re-entry term life insurance is a type of renewable term insurance that periodically requires new medical underwriting. Term Life Insurance. Whole Life Insurance. When you pass away, the insurance company will pay out a predetermined amount to your beneficiaries. The new permanent policy will be issued by the same insurer. Participating policies. Long story short: yes. Additionally, the cost of a permanent life. Life insurance illustrations are regulated by NAIC’s Life Insurance Illustration Model Regulation (Model #582). , an accelerated death benefit rider on your life insurance policy), LTC is a bit broader. Whole Life Insurance. 5 million, and a few go higher still. Policy Holder. The better the rating the insured receives, the less their life insurance policy will cost. The human-life approach is a multi-step process. Bestow is a digital life insurance agency. With an Alexa ranking of 772k and over 425 reviews on trustpilot. If your medical history flags high risks, Sproutt can reject your application. Sproutt Life Insurance is an online marketplace that uses data and artificial intelligence to match customers with a range of life insurance policies. Customer FAQ. Once the life insurance policy is issued and paid for, the collateral assignment is filed giving the bank first access to any amount outstanding on the loan. Insurability and life insurance. A permanent life insurance policy’s cash value can be used to start a business. Instead, it’ll look at your individual situation. If that's what you're looking for, you can be covered in as little time as it takes to answer a. Riders — and their costs — vary between policies and insurers. Health Information You’ll Be Requested to Share on Your Life Insurance Application. com with a rating of 4. You have the option to choose between four main types of permanent life insurance: Whole life insurance. Agents and Agencies. Questions about your. Service. Agents and Agencies. Whether you apply for 10-year term life insurance, 20-year, or 30-year, the application process is the same. It usually needs to be something other than a medical cause. All the above life insurance can be found depending on the carrier and State up to 90 years old. No medical exam term life insurance. Premiums are level, and. 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. 6 Best No-Exam Life Insurance Companies of 2023. Sproutt’s Quality of Life Index (QLI) assesses each individual’s lifestyle across five areas – movement, sleep, emotional health, nutrition, and overall lifestyle balance – and. How this benefit works Generally speaking, you won’t receive the full death benefit promised by your policy when using this benefit. No Medical Exam Life Insurance. Most life insurance plans will require a medical exam and a thorough underwriting process, which complicates and extends the process. , LIBOR. If your medical history flags high risks, Sproutt can reject your application. You can get as much as $200,000 or $300,000, in some cases,. Based on what they find, they assign a rating to you. Cons: Some competitors offer access to more carriers. No Medical Exam Life Insurance. An accidental death and dismemberment (AD&D) benefit is the payout from either a standalone AD&D policy or an AD&D rider added to a life or health insurance policy. Universal Life Insurance. The chewing tobacco-life insurance connection varies from insurer to insurer, though. 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. Medical Exam Required: Varies by Provider: Not Always: Yes: Not Always: No exam for coverage up to $3 million: Age. When you apply for life insurance, the insurer usually doesn’t make a decision overnight. The right life insurance policy may provide you and your family with protection in the event of your death. $39-$49/month. If you add a child to your term insurance, it can be done for as little as $5 per month to secure $10,000 in coverage. Annual premiums vs. Term Life Insurance: This affordable option covers a specific period (10, 20, or 30 years. Payment is guaranteed during the term period as long as the premium is paid. 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. Haven Life is a term life insurance provider offering a 100% online buying. This might mean buying a guaranteed acceptance policy or even a whole life insurance product. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance. At the end of the term, the death benefit reaches $0. Group life insurance. 4. Bottom Line. The purpose of the blood test is to check for underlying diseases, health issues, and drug use. Health history. Tax advantages – Funds in your permanent life insurance account grow tax-deferred, like those in a 529 plan. Non-forfeiture clauses can also apply when a policy owner voluntarily cancels the. Nutrition. No health questionnaire or medical exam exists, but death benefits have a low cap. Founded in 2019 and located in America’s insurance capital, Hartford, Connecticut, Sproutt is a life insurance marketplace that connects customers with 1. If you’re. When you apply for life insurance on yourself, the insurance company kicks off an underwriting process. Read More. Many life insurance policies require a medical exam, for example. Consumers. If you add a child to your term insurance, it can be done for as little as $5 per month to secure $10,000 in coverage. single premiums. Haven Life – Best term life insurance. Sproutt life insurance has a clean record with the Consumer Financial Protection Bureau (CFPB). It is a term used by the insurance industry itself, and it might also be called an insurance provider. There 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. In most cases, you won’t need a medical exam. Company background: Sproutt launched in 2018 with a mission to simplify and shorten. The cost of no exam life insurance also depends on the amount of coverage you get. Instead, life insurance doesn’t start protecting the life of an insured until the effective date. State Farm – Best for customer satisfaction and stability. Price (50% of score): We averaged the no-exam life insurance rates for males and females in excellent health at ages 30, 40 and 50 for $500,000 and $1 million and a term length of 20 years. No exam policies are term life. According to their website, Sproutt offers no-exam life insurance, guaranteed issue life insurance, whole life insurance, critical illness insurance, and universal life insurance – all in addition to term life insurance. Mortgage Insurance. e. 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. Many guaranteed-issue life insurance policies require a waiting period of 24 months. 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. They can claim the policy benefit to cover. Life Insurance Glossary. First, non-forfeiture can apply when the policy owner has missed a premium payment and the grace period has expired. In addition to these ratings, Sproutt is backed by Guardian Life Insurance, one of the largest life insurance companies. Many term life insurance policies are convertible insurance. So, when you submit your application, you can receive multiple. Sproutt Life Insurance & SBLI- Instant-Approval No-Exam Life Insurance 2023. Nutrition. PROS. Whole Life Insurance. Policy owner rights. Most juvenile life insurance policies come with the option to maintain coverage once the child reaches adulthood without the need for any medical underwriting. Sproutt No-Exam Life Insurance Review 2022 Overview Sproutt’s no medical exam life insurance policy allows qualified applicants the option to purchase a term life insurance policy online in about 12 minutes. With a modified life insurance policy, however, the insurer adjusts your premiums down for the first several years of coverage, called an introductory period. Life insurers take smoking very seriously: someone who gets a term life policy for 20 years with a $500,000 death benefit will sometimes pay 5 times as much as someone who merely doesn’t smoke. No medical exam Sproutt life insurance is offered via multiple policies including some term and whole life options. 9 min read. 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 Result . 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. New York Life. While both types of life insurance give the policy owner options as the end of the policy term approaches, as we just explored, renewable term insurance allows them to renew the coverage with a specified term. No Medical Exam Life Insurance Sprout. 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. M Best, the company has written 16 million policies and has active insurance policies worth $82 billion. Sproutt scores 4. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance. 7 Dec 2020. Pricing: The cost of Sproutt’s life insurance tends to be on the higher side. People usually name one or multiple people as the beneficiary of their life insurance policy. If something were to happen, the kids may need full-time childcare. Sproutt’s life insurance plans encompass term life insurance, whole life insurance, universal life insurance, and variable universal life insurance. Health insurance might be. Sproutt life insurance offers a one-stop shop to get life insurance without taking a medical exam. What is great about applying for no exam life insurance through Sproutt is that the company works with a network of insurance providers. What is Decreasing Term Life Insurance? Decreasing term life insurance is a type of life insurance coverage that lasts for a certain amount of time, has a level premium, and a decreasing death benefit that declines at a predetermined rate over the policy term. In most cases, you won’t need a medical exam. Presently, there are no reviews published for Sproutt on BBB. Most life insurance companies cap a policy. Most juvenile life insurance policies come with the option to maintain coverage once the child reaches adulthood without the need for any medical underwriting. , 20 years, 30 years). Sproutt Life Trustpilot Ratings. Because women are statistically likely to live longer than men, they usually pay less for life insurance. A small fee per $1,000 of life insurance coverage, an example insurer would charge 12 cents per $1,000 of insurance a year. Best life insurance company: Sproutt. 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 financial protection if you die. Accelerated policies cost about the same amount as traditional life insurance but. The total annual cost for a $1,000,000 policy would be $120 a year. Without those costs, no-load life insurance can cost less than an agent-sold policy with the same coverage terms. When it comes to life insurance, coverage gets expressed as the policy’s face amount, also called the death benefit or face value. It starts off by asking you simple demographic information when you walk through the process. The exam is similar to a standard physical, but instead of being performed by your. Gender. Sproutt benefits. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance. They should, but there may come times when your policy needs additional attention from the insurance company. Accelerated death benefit rider. For most term and permanent life insurance policies, that includes a medical exam and a questionnaire. Customer FAQ. read more. 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. The death benefit for these policies can be up to $100,000. Stay at home moms also need life insurance. How to file a life insurance claim. 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. 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. Waiver of premium. Agents and Agencies. , $10,000) designed to cover the insured’s end-of-life costs. And they won’t show up on your credit report, impacting your. Sproutt is an online marketplace offering term, whole and universal life insurance through a network of 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. This means there are some required components that need to be present in every illustration, such as: Cash value; Death benefit; Inflow from the premiumsThe life insurance medical exam is a brief, routine follow-up to confirm this information. To ensure they get compensated for that extra time, they may charge a policy fee. You might think of it as “accident expense insurance” because it can help to cover living expenses for you or your loved ones if tragedy strikes. Savings can be used for anything. 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. $27-$37/month. Term Life Insurance. No Medical Exam Life Insurance Explained. No medical exam Sproutt life insurance is offered via multiple policies including some term and whole life options. Here are sample rates for California-based male and female non-smokers in good health for a $500,000 term policy. Founded in 2019 and located in America’s insurance capital, Hartford, Connecticut, Sproutt is a life insurance marketplace that connects customers with 1. This is called “no. 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. Whole Life Insurance. because there is no medical exam required, individuals who have been previously declined for life insurance due to. These policies are similar to the guaranteed issue but require a basic health questionnaire that includes medical history. Bestow is an insurance provider offering term life insurance starting at $11 a month, with no medical exam required to apply. . The policyholder is the individual who shops for the policy and completes the insurance application. Life Insurance Glossary. The policy lapse means losing the death benefit, but the non-forfeiture clause protects the policy’s accumulated cash value for the policy owner. The policy lapse means losing the death benefit, but the non-forfeiture clause protects the policy’s accumulated cash value for the policy owner. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance. You may have heard about it on your quest to find the right policy for you, however, you may have questions about the details. A life insurance rating is a metric that companies assign to insurance applicants based on their risk level. The industry calls this layering, making life insurance easier to customize for your family. Life Insurance Glossary. 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. 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. Life insurers use medical exams to assess your mortality risk and overall health, which also helps determine your premium. More details on Sproutt term: Sproutt recommends term insurance as an excellent option at a lower cost that will help protect your dependents in the case of your death. If you’re six months or fewer from your next birthday, the insurance company will consider you a year older if they use. 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. September 12, 2021 8 min read Most life insurance policies require you to undergo a medical exam as part of the application process. These whole life insurance policies come with a small death benefit (e. in no event will sproutt, its affiliates, or their licensors, service providers, employees, agents, officers, or directors be liable for any indirect, special, incidental, consequential, or punitive damages related to your use, or. The policies it sells are issued by North American Company for Life and Health Insurance. Universal Life Insurance. MoneyGeek's Take: Haven Life is our choice for the overall best online life insurance company because it offers cheap term life coverage, with many qualifying for coverage in minutes and without a medical exam. Again, most life insurance policies load the agent’s commission and service fees into the premium the policy owner has to pay. We provide all the tools you need to deliver amazing coverage for your customers and enjoy excellent benefits along the way. They sell policies that don’t require a medical exam, as well as policies that do. No Medical Exam Life Insurance. 20/12/2021 by thebiznix. Although it’ll require a medical exam, you can get as much as $5 million in life insurance coverage using Fabric’s otherwise all-digital application process. 30-year term life insurance is one of the longest term life policies you can get. Since it needs no medical exam, the insurance is designed. A non-smoking female would pay approximately 6. As a result, life insurance underwriters are more hesitant to insure older individuals. The difference between the age of 50 and 60, however, is substantial. Direct response life insurance is life insurance that an insurance company sells directly to the consumer. Heart Disease. The maximum amount distributed. Best for Those Under 50 Years Old: Wysh. g. Agents and Agencies. During underwriting, the insurance provider evaluates you and the risk they would take on in offering you an insurance policy. g. Ladder — Best for High Coverage Amounts. Sproutt is known for its renowned and popular no medicinal approach to life insurance. With an A rating given by A. That said, some insurers cap the payout beyond the percentage. Presently, there are no reviews published for Sproutt on BBB. Most life insurance policies are issue age policies, which means that the premium needed to keep the policy active gets set — and often, fixed — based on the age of the insured at the time the policy is issued. 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. Their employees may need to re-enroll each year in order to maintain their coverage. It’s designed to screen you for a range of health conditions and to gather certain health metrics, like your blood pressure and cholesterol levels and your body mass index (BMI). This process is entirely online. Life is good. 8/5 RatingLife insurance ratings and their associated costs. Getting life insurance without EOI. Agents and Agencies. These policies tie cash value growth to the interest rates in the market, e. Riders are features life insurance policy owners can add to their policies to modify or increase coverage. The policy owner is the individual who gets control over and responsibility for the life insurance policy. Sproutt currently only offers no medical exam life insurance through its platform. Prudential Life Insurance Company. Term life insurance doesn’t have a cash value component, so you can’t take a policy loan against term coverage. But no medical exam policies can be more expensive than ones that require it. That means that if a health condition arises that would make coverage more expensive — or even impossible — for the insured to get, they’ll still be able to maintain life insurance. From nutrition to sleep, physical activities, travel, and even personal finance. 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. Policies. Customer FAQ. These policies come in various forms, including term life insurance with no medical exam and whole life options. That generally includes: Serious illnesses. Why life insurers use actuarial tables. One of Sproutt's hallmarks is providing instant term life coverage with no medical exam required. Term life insurance policies do not have a savings component. Term Life Insurance. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance. Universal Life Insurance. In a world of uncertainty, protecting yourself and your family, whatever the circumstances may be, has become a vital part of our well-being. It would be a worst-case scenario to pay your life insurance premiums your entire life only for your beneficiaries to find that the life insurer can’t pay out the death benefit after you pass away. 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. Policygenius – Best online broker. Finally, they usually require a medical exam with a physician they’ve approved. Founded in 2019 and located in America’s insurance capital, Hartford, Connecticut, Sproutt is a life insurance marketplace that connects customers with 1. , $500,000, $1,000,000) that the life insurance company will pay to specified individuals at a certain point. Even when it is a no-exam policy, Sproutt offers options so that you can lower. Instead, your application kicks off a. Once the insurer approves their application and issues the coverage, the policyholder has control over the policy. No Medical Exam Life Insurance; Universal Life Insurance; Life Insurance Glossary; Term Life Insurance. Find out how to get life insurance with no medical exam, but just know you may pay a higher premium. 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. 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. There are two types of insurance agents. While the negative reviews were minimal (o ly 2% 1-star), I did review the comments to see if I could identify recurring themes. A life insurance policy is a multi-page document that generally lays out the following: The insured. Universal Life Insurance. g. Customer FAQ. 5-star review – Trustpilot. 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. There are even a few that go above the million mark to $2MM and $3MM. No Medical Exam Life Insurance. You might also hear a rating called a rate class, risk class, health rating, rate classification, or underwriting class. We’d like you to take just a few minutes (about 15) so we can understand and formulate a personalized score (QL index score) for you. Check it out once. Most insurance companies require a life expectancy between six and 24 months to use an accelerated death benefit (as attested by a medical doctor). Since it needs no medical exam, the insurance is designed.