Frequently Asked Questions

 Life insurance is a contract that pays a lump sum to your beneficiaries when you pass away, helping them cover expenses and maintain financial stability. 

 If someone depends on you financially—like a spouse, child, or aging parent—then yes, life insurance is essential. 

 A good rule of thumb is 10–15 times your annual income, but it depends on your debts, income, and future needs like college or mortgage payments. 

 Term life covers you for a set number of years and is typically more affordable.
Whole life lasts your entire life and builds cash value over time. 

 Not necessarily. Term life can be very affordable, especially if you're young and healthy. 

 Yes. Some policies require medical exams, but others - like guaranteed issue or simplified issue - do not. 

 The coverage ends, but you may be able to renew it, convert it to permanent insurance, or buy a new policy. 

  You can name anyone—spouse, child, parent, friend, or even a trust or charity. 

  You can name anyone—spouse, child, parent, friend, or even a trust or charity. 

 Only from permanent policies like whole or universal life. You can borrow against the policy’s cash value. 

Most policies have a grace period (usually 30 days). After that, the policy could lapse, but some may have built-in cash value to keep it active.

  The sooner, the better—rates are lower when you're young and healthy.