1. How does the application process work?

The process typically starts with an initial consultation to understand your needs and recommend the best coverage. You’ll then complete an application, which may include health questions or a medical exam, depending on the policy type. Once submitted, the insurance company reviews it, and if approved, you’ll receive your policy documents.

2. Do I need a medical exam to get insurance?

Some policies, such as simplified issue or guaranteed issue life insurance, do not require a medical exam. Others, like traditional term or whole life policies, may require an exam depending on your age, health, and coverage amount.

3. How long does it take to get approved?

Approval times vary by policy type and insurer. Simplified issue policies may be approved within days, while fully underwritten policies (involving medical exams) can take a few weeks.

4. How are premiums determined?

Premiums are based on several factors, including your age, health, lifestyle, coverage amount, and the type of policy. Non-smokers and those in good health typically qualify for lower premiums.

5. Can I change my policy later?

Yes, many policies offer options to adjust your coverage. Term policies may allow you to convert to whole life, and some permanent policies let you change premium amounts or increase coverage over time.

6. What happens if I miss a payment?

Most insurance policies include a grace period (usually 30 days) to make your payment without losing coverage. If payment is not made by the end of the grace period, the policy could lapse, but some policies offer reinstatement options.

7. How do I file a claim?

To file a claim, your beneficiary or representative will need to contact the insurance company and provide the necessary documentation, such as a death certificate (for life insurance) or medical records (for health claims). We’re here to assist with the process if needed.

8. What is the difference between cash value and death benefit?

The death benefit is the amount paid to your beneficiaries when you pass away. Cash value, available in certain policies like whole life and IULs, is a savings component you can access while you’re alive, either through loans or withdrawals.

9. Are my premiums tax-deductible?

In most cases, personal life insurance premiums are not tax-deductible. However, the death benefit is generally paid out tax-free to your beneficiaries.

10. Can I have more than one life insurance policy?

Yes, it’s possible to have multiple life insurance policies to meet different needs. For example, you might choose a term policy for mortgage protection and a whole life policy for lifelong coverage and cash value growth.