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Frequently Asked Questions

Common Questions Answered for your convenience.

What is life insurance?

Life insurance is a contract between you and an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to your beneficiaries upon your death.

How much life insurance coverage do I need?

The amount of coverage you need depends on your individual circumstances, such as your income, debts, and financial goals. A general rule of thumb is to have enough coverage to replace your income for a certain number of years and to cover any outstanding debts and expenses.

Can I buy life insurance if I have pre-existing health conditions?

Yes, you can still qualify for life insurance with pre-existing health conditions, but the cost of coverage may be higher, and certain conditions may limit your options. It's important to disclose any health issues upfront when applying for a policy.

What types of life insurance are available?

There are several types of life insurance, including: term life, whole life, indexed universal life. Each type has its own features and benefits, so it's important to understand your options before choosing a policy.

What factors affect the cost of life insurance?

The cost of life insurance depends on factors such as your age, health, lifestyle, occupation, and the type and amount of coverage you choose. Generally, younger, healthier individuals with lower-risk lifestyles pay lower premiums.

What happens if I miss a premium payment?

If you miss a premium payment, your life insurance policy may lapse, meaning you lose coverage. However, many policies have a grace period during which you can make a late payment without penalty. It's important to contact your insurance company if you're unable to make a payment on time.