GoodTrust Life Insurance Review
Insurance specialist
It is a group life insurance Policy. Basically, GoodTrust company offers it. This company usually provides estate planning and digital assets management services. Goodtrust life Insurance is available all over the United States. It is available for all ages between 18 to 65 years. In this review, we will explore every aspect of GoodTrust Life insurance, e.g., coverage, cost, pros and cons. And why you shouldn’t buy this life insurance policy.
What Does GoodTrust Life Insurance Policy May Cover?
It is basically a term life insurance. It means that it provides policy for a limited period of time. For example, 10, 20, or 30 years. If a policyholder dies during that period of time, family or beneficiaries will get that death benefit. Almost It has limited coverage.
Here are some examples of what GoodTrust Life Insurance may cover :
Funeral Expense: GoodTrust life insurance can assist in covering funeral expenses after the death of a policyholder. There is a huge expense of funerals in the U.S.
Medical Bills: It can help you in coverage of outstanding medical bills after a policyholder’s demise. It is a enough relief to loved ones. Neither were they liable to pay those bills.
Outstanding Debts: GoodTrust Life insurance can help while covering debts like credit cards, debit or student loan debt, etc.
Mortgage payments: If the holder has any mortgage at the time of death, GoodTrust Life Insurance can help to make mortgage payments.
Business expenses: If the holder owns a business, then after his/her demise, GoodTrust life insurance will manage the expenses. It will keep running your business and protect the employee’s jobs.
What GoodTrust Life Insurance Doesn’t Cover?
There are many important needs to be covered, but it doesn’t cover death due to :
War & terrorism: GoodTrust life insurance doesn’t cover death due to war or terrorism. It is one of the most unpredictable deaths. War and terrorism are known as one of the uninsurable risks. It is very difficult to predict the happening of these events, and it is not financially feasible to insure against them.
Suicide within the first two years of the policy: It doesn’t cover death due to suicide during the first two years of the policy. The reason for the exclusion of this coverage is to prevent policyholders from getting this insurance. They may have the intention of committing suicide to benefit their family financially.
Travel to certain countries: GoodTrust Life insurance does not cover death due to travel to certain countries. For example, GoodTrust Life insurance may not cover death due to travel to a country that is at war or that has a high crime rate.
Participation in Certain Hazardous Activities: GoodTrust life insurance does not cover death due to participation in certain hazardous activities that are considered more risky, like skydiving, scuba diving, or rock climbing. GoodTrust Life may, therefore, not cover deaths incurred as a result.
What is the Cost Of GoodTrust Life Insurance?
GoodTrust Life Insurance offers a single group life insurance plan with a maximum coverage amount of $50,000. The plan’s cost is directly on factors like age, gender, and health status. However, premiums start at just $9 per month.
| Rate Class | Age | Male | Female |
| Standard | 18-34 | $9 | $7 |
| Preferred | 35-44 | $12 | $10 |
| Standard | 45-54 | $15 | $13 |
| Preferred | 55-64 | $18 | $16 |
Pros & Cons of GoodTrust Life Insurance :
In this review, further we will discuss some pros and cons of GoodTrust Life Insurance below :
Pros :
- Easy to apply for, no medical exam required
- Affordable premiums
- Includes additional benefits, such as free will and estate planning documents
Cons:
- Only available to people in the United States between the ages of 18 and 65
- Term life insurance policy, which means that coverage ends after the specified term
- Maximum coverage amount of $50,000
Why should you not buy this insurance?
Here are some reasons you should not buy this policy because of :
- Limited coverage: GoodTrust Life insurance only offers a single plan with a maximum coverage amount of $50,000. This may not be enough coverage for some people, especially those with large families or debts.
- Term life insurance: GoodTrust Life insurance is a term life insurance policy, which means that coverage ends after the specified term. If you want lifelong coverage, you will need to purchase a different type of life insurance policy.
- Limited availability: GoodTrust Life insurance is only available to people in the United States between the ages of 18 and 65. If you are outside of this age range or live in a different country, you will not be able to purchase GoodTrust Life insurance.
Furthermore, there are some more reasons below :
- It does not cover death due to suicide within the first two years of the policy, war or terrorism, travel to certain countries, or participation in certain hazardous activities.
- It is a relatively new company, so there is not a lot of data available on its claims process or financial stability.
- It is only available online, so if you prefer to work with a licensed insurance agent, GoodTrust Life Insurance may not be a good option for you.
Conclusion :
In this review, we have explored GoodTrust Life Insurance more precisely. It may not be suitable for everyone. It is very necessary to weigh the pros and cons. We have discussed above why you should not buy this policy. We have discussed some exclusions, and it’s a new company, etc. So, We will recommend you compare it with other best Life insurance policies. There are more of the best insurance companies available in the market. They provide the best coverage and value in return for money.
