Straightforward answers to the questions we hear most, tailored for everyday decisions about coverage and cost.
1. What riders should I consider?
Common options include accelerated death benefit, waiver of premium, child rider, and term rider—each adds specific protections.
2. How fast can I get coverage?
Accelerated underwriting can approve some applicants the same day. Traditional underwriting may take 1–2 weeks depending on your health profile.
3. Are death benefits taxable?
In most cases, the benefit paid to beneficiaries isn’t subject to income tax. Large estates or interest earned can have tax implications—consult a tax professional.
4. What happens if I miss payments?
Term policies usually lapse after a grace period. Some permanent policies can use built‑up cash value to keep coverage active temporarily.
5. Can I own more than one policy?
Yes. It’s common to layer a term policy for income protection with a smaller permanent policy for lifelong needs.
6. What are the main types of life insurance?
Term life covers you for a set period (10–30 years) at a lower cost. Permanent life (Whole or Universal) lasts your entire lifetime and can build cash value.
7. How are premiums determined?
Age, health, tobacco use, coverage amount, and policy length/type all affect price. Generally, younger and healthier applicants pay less.
8. How do I choose a beneficiary (and update them)?
Name primary and contingent beneficiaries and review them after major life events—marriage, divorce, or the birth of a child.
Still have questions? Connect with a licensed local professional for clear, no‑pressure guidance and quotes.