Frequently Asked Questions

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Understanding the different types of life insurance is a crucial part of financial planning. Whether you are just starting, in the middle of raising a family, or beginning to plan for retirement, life insurance policies offer exceptional protection for everyone’s needs. There are three primary kinds of life insurance, each one serving a distinct purpose: 

• Term Life Insurance: provides coverage at a fixed rate of payments for a limited period of time.
• Whole Life Insurance: a policy which is guaranteed to remain in force for the insured's entire lifetime.
• Universal Life Insurance: a type of cash value policy where the excess of premium payments above the current cost of insurance is credited  each month with interest.

Depending on your needs and goals, each life insurance can have its benefits and drawbacks. 

You may have an idea of what type you're most interested in, but we're here to help. We can walk you through all the details, including benefits and limitations, and help you find the right policy that fits your budget and goals. 

To get an estimate, take your annual income and multiply it by how many years you want to replace. People often choose five to ten times their annual income. Keep in mind, people with older dependents might not need income replacement as long as those with younger dependents.

We've worked with families to determine the right coverage based on their unique financial situation and family needs.

You can use the services of an independent local insurer, shop through an online broker who is not affiliated with any single company, or buy directly from the insurance company.

Consider the cost of premiums, policy terms and conditions, customer service experience, riders (optional benefits) such as long-term care or disability income insurance that may be available for an additional cost, and the insurer’s financial strength ratings.

You’ll need to provide personal information such as your address, date of birth, Social Security number, and beneficiary information. You may also need to provide medical or financial records if requested. After applying, you’ll usually receive an answer within a few days.

You can have multiple life insurance policies if you wish. Typically is more cost effective to have one policy than multiple policies. But remember, if you find your situation changes in the future it's sometimes possible to adapt your existing policy.