Life
Insurance
We offer comprehensive life insurance to protect you and your loved ones.
FAQ
· Term Life Insurance provides coverage for a specific period (e.g., 10, 20, or 30 years) and is generally more affordable. It pays a death benefit if the insured dies during the term.
· Whole Life Insurance is a type of permanent life insurance that lasts your entire life and builds cash value over time. Premiums are typically higher, but it offers lifelong protection and potential savings benefits.
This depends on your income, debts, dependents, and financial goals. A general rule is to have coverage equal to 10–15 times your annual income, but you should also consider:
· Mortgage or rent
· Future education costs
· Final expenses
· Replacing lost income A licensed agent can help perform a needs analysis to determine the right amount.
It depends on the type and amount of coverage. Many traditional life insurance policies require a medical exam (bloodwork, vitals, health history). However, no-exam or simplified issue policies are available for certain coverage amounts or age brackets though these may come with higher premiums or coverage limits.
Generally, no; life insurance death benefits are not subject to federal income tax when paid to a beneficiary in a lump sum. However, if the payout accrues interest or is paid out in installments, the interest portion may be taxable.
Yes. Most life insurance policies allow you to update your beneficiaries, change contact details, or even adjust coverage (depending on the policy type). It's a good idea to review your policy regularly, especially after major life events like marriage, birth, or divorce.