What is life insurance?
Life insurance is a contract that pays money to your beneficiaries if you pass away while covered. It helps your loved ones cover expenses like the mortgage, tuition, and daily living costs.
What does premium mean?
Your premium is the amount you pay to keep your policy active. You can usually pay monthly, quarterly, or annually.
Who is a beneficiary?
A beneficiary is the person or entity you choose to receive the policy’s payout (death benefit). You can name multiple beneficiaries and update them anytime.
What is a rider?
A rider is an optional add-on that customizes your policy, such as a waiver of premium, child term rider, or accelerated death benefit.
How much coverage do I need?
Many families start with 10–12x annual income plus debts and future goals. See examples on our Term Life page for a simple way to estimate coverage.
Do rates increase over time?
For level term policies, rates are locked for the term you choose (e.g., 10, 20, or 30 years). After the term ends, premiums can rise if you renew annually.
Can I change my coverage later?
Often yes—many policies allow you to apply to increase coverage or convert to a permanent policy (subject to carrier rules and underwriting).
Related reading: Visit our Term Life Insurance and Annuities pages to learn which option fits your goals.
How long does underwriting take?
Most applications are approved in 2–10 business days. If a medical exam is required, allow 1–3 weeks total.
Will I need a medical exam?
Some applicants qualify for accelerated underwriting (no exam). If needed, an examiner visits your home or office for vitals and a brief health history.
How are rates set?
Rates are based on age, health, tobacco use, coverage amount, and term length. Locking in earlier usually means lower premiums.
Which term length should I choose?
Match the term to your biggest obligations—like the years left on your mortgage or until your youngest child finishes college.
What coverage amounts are common?
Popular choices are $250k, $500k, $750k, and $1M+, depending on income and debts. We can help you right-size your amount.
What riders are worth considering?
Common options include waiver of premium, child term rider, and accelerated death benefit. Availability varies by carrier.
What is an annuity?
An annuity is a contract with an insurance company that can grow tax-deferred and provide income, often for life.
Fixed vs. indexed annuity—what’s the difference?
Fixed annuities pay a declared rate. Indexed annuities credit interest based on a market index with downside protection (not direct market participation).
How are annuity rates and caps set?
Carriers set rates, caps, and participation rates based on economic conditions and product design. These can change for new contracts over time.
What fees should I know about?
Some annuities have no explicit annual fee; others add rider charges. Withdrawals beyond free allowances can trigger surrender charges.
What is a surrender period?
A surrender period is the early-withdrawal timeframe (often 5–10 years) when larger penalties may apply if you take out more than the free amount.
Can I get guaranteed lifetime income?
Yes—via annuitization or an income rider, subject to contract terms.
How do I get a quote?
Share your goals, budget, and basic health info. We compare multiple carriers and send clear options—usually the same day.
What are the steps to get covered?
1) Quick discovery call 2) Application and e-sign 3) Underwriting and exam if needed 4) Final approval and e-delivery of your policy.
How do I pay premiums?
Most clients use auto-draft from a bank account or card. You can choose monthly, quarterly, or annual payments.
Can I cancel or change my policy?
Yes. You can cancel anytime. Many policies include a free-look period. Changes may require underwriting—ask us first so we can preserve benefits.
How do I update beneficiaries?
Contact us and we’ll help you submit the carrier’s beneficiary change form to keep your records current.
What if I miss a payment?
Policies usually include a grace period. Pay as soon as possible and call us—we’ll help you reinstate if needed.
