FAQ's

What is life insurance?

Life insurance is a contract between you and an insurance company. You agree to pay for the policy on a regular basis, and the insurance company agrees to pay a sum of money to your beneficiaries if you pass away while the policy is active.

 

Who needs life insurance?

Anyone who has financial dependents can benefit from life insurance. This can include parents with young children, homeowners with a mortgage, business owners, and others who want to provide financial security for their loved ones.

 

How much life insurance do I need?

The amount of life insurance you need depends on several factors, including your income, the number of dependents you have, your debts, and your lifestyle. As a general rule, it is often suggested to have a life insurance policy that is 10-15 times your annual income.

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What is mortgage protection insurance?

Mortgage protection insurance is a type of life insurance policy designed to pay off your mortgage if you pass away before it is fully paid off. It can provide peace of mind knowing that your family won't have to worry about mortgage payments during a difficult time.

 

Does mortgage protection insurance only cover the death of the policyholder?

Typically, yes. However, some mortgage protection insurance policies may also cover certain severe illnesses or disability. It's important to read your policy carefully and discuss it with our insurance professionals to understand what's covered.

 

Can I get life insurance if I have a pre-existing medical condition?

Yes, having a pre-existing medical condition doesn't automatically disqualify you from getting life insurance. However, it may affect the cost of your policy. It's best to speak with one of our insurance professionals who can guide you through the process.

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How do I get a life insurance quote?

You can start the process by reaching out to one of our insurance professionals or filling out the online quote request form on our website.

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What information do I need to provide to get a quote?

To provide you with a quote, we'll typically need some basic information about you. This may include your age, gender, location, health status, smoking habits, occupation, and the amount of coverage you're interested in.

 

Do I need to undergo a medical examination to get a life insurance quote?

Not necessarily. Some policies may require a medical exam, while others might not. However, more information about your health can provide a more accurate quote and potentially lower premiums.

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How long does it take to get a life insurance quote?

The timeline can vary. In many cases, you can get a preliminary quote immediately after filling out an online form. However, if the policy requires a medical exam or additional information, the process might take a bit longer.

 

How do I apply for a policy after getting a quote?

After you receive a quote and decide to proceed, you'll need to complete a formal application. This often involves answering more detailed questions about your health and lifestyle. Depending on the policy, you may also need to undergo a medical exam.

 

Can I adjust the coverage amount after receiving a quote?

Absolutely. If you decide you want more or less coverage after seeing your quote, we can easily adjust this for you. Keep in mind that the premium will also adjust accordingly.

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What if I have specific health conditions? Will that affect my ability to get a quote?

Having specific health conditions won't prevent you from getting a quote. However, it could affect the cost of your premiums. We encourage you to disclose any health conditions upfront so that we can provide the most accurate quote possible.

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How does Indexed Universal Life Insurance (IUL) work?

Indexed Universal Life Insurance (IUL) is a type of permanent life insurance that provides both a death benefit and a cash value component that can grow over time. The unique aspect of IUL is that the growth of the cash value is tied to a stock market index, allowing for potential growth in a rising market, while a floor protects against losses in a down market.

 

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Is the cash value from my IUL policy tax-free?

In most cases, the money you take from your IUL policy through loans is tax-free as long as the policy remains in force until you pass away. However, there may be tax implications under certain circumstances, such as if you surrender the policy or if it lapses. It's always best to consult with a tax advisor for specifics related to your situation.