Welcome to our FAQs

Just like our mission, you’ll find our FAQs are to the point. Read them all now, or come back as you need information.
Happy Reading!

General Life Insurance Questions

Why is Life Insurance Important?

Look, you make a contribution to your family, your partner, your kids – anyone that loves you and depends on you. Consider what would happen if you were just *poof* gone? Is there enough money to pay for the house, food, cars, joint debt?

And if you have kids and your partner stays home – what would you do if you lost your partner? How do you replace your partner’s contribution?

Bottom-line: Life insurance protects all of those people who care about you. So, help them now before you hit the dirt.

How much life insurance do I need?

Life insurance is meant to replace the loss of what you contribute. It is not meant to leave a legacy of wealth – providers are not in the business to make your family rich.

Also, our smart machine will run the numbers and figure out exactly what you need. So don’t worry, you can’t be over-sold on insurance because insurance providers won’t let it happen – and neither will we!

What is term life insurance?

Term is actually one of the most used policies. It offers coverage for a period of time – typically no more than 30 years. Also, the monthly cost for term coverage is much lower than whole life coverage.

Term coverage does not build a cash value, but in most cases the benefits are tax-free.

Another cool thing about term coverage is, in many cases, you can convert your term coverage to permanent coverage without a medical exam. Cool right? I mean, the average person doesn’t get healthier as they age.

Coverage Options

How many years of term coverage should I buy?

This is the easy part. What are you trying to accomplish?

Young kids you want to protect? You might consider a longer term to cover them through college.

Getting ready to retire? A shorter term may work to cover the family for the time you’re down one income.

There are tons of examples, but you’re a sharp cookie! Get the coverage you need, for as long as you’ll need it. That’s it!

Who can be a beneficiary?

You can choose nearly anyone who counts on you and your income – a single person, multiple people, charity and your trust. If you choose no one, when you die the benefits will go to your estate.

Payment Options

Will payments for term life insurance increase?

Nope, not while the policy is within the term limit – and you’ve made timely premium payments. But, when the term expires and it’s time to renew you’ll see an increase in premium – and the increase can be big so you want to make sure you’re choosing the term length wisely.

Who can be a beneficiary?

You can choose nearly anyone who counts on you and your income – a single person, multiple people, charity and your trust. If you choose no one, when you die the benefits will go to your estate.

Policy Specifics

What happens at the end of the term?

You have three options when the term coverage comes to an end:

  • End the policy and walk away.

  • Pay the renewal premiums which are typically expensive.

  • Apply for a new policy (Start all over again at your current age and health).

Can I change my policy once I’ve purchased it?

It depends. You can change your beneficiaries or address with a simple form, but if you want more insurance down the road you’ll typically have to apply for it which means essentially starting from scratch. Again, choosing the right amount of coverage and term length are important decisions that you should try to get it right, the first time.

Are life insurance death benefits subject to federal and state tax?

No. In most cases, the death benefits your family will receive are tax free.

How often should I review my life insurance needs?

The best thing about life is the constant change – home purchases, babies, partners, promotions, new businesses. For all of these reasons you should review your policy when there is a life change. Otherwise, a best practice would be every year or two.