FAQ’s

How easy is it to get life insurance? We make it very easy! How? We will shop the market for you. We will get you the best company and the best rate to suit your needs, not the insurance companies needs.

Can anyone get Life Insurance? Yes. You may be subject to a 2-3 year waiting period before your beneficiary can receive a full benefit face amount. This may put some people off. However, some people are just happy to get insurance. The way that it works if the insured dies within 2 to 3 years, the beneficiary gets 100% of the premiums back +5 to 10% on top of that. After the two to three-year periods satisfied, the beneficiary will receive the whole face amount. So if the insured has a face amount of $10,000 then the beneficiary will get $10,000.

What if I have AIDS, Lou Gehrig’s disease, terminal cancer, or some other dread disease? Can I get life insurance? Yes, you can!

Which is better? Whole life insurance, term insurance, universal life insurance, or guaranteed universal life insurance. I consider whole life insurance to be the best option available. It’s really easy to apply for and if especially you are of an age and need $10,000 for final expense it’s still relatively easy to get. This type of life insurance also builds cash value. The next option would be universal life or guaranteed universal life. These policies can be cheaper than whole life sometimes depending on your age and can also build some cash value. Some insurance agents love this product. This type of insurance can get dangerous because if you start using your cash value or any monies built up to pay your premiums, you can run out of money quickly. It’s always better to research that you can afford this type of policy and not use what was cash value to pay premiums. This is also unlike a term policy because it can actually go up to age 95 and some companies beyond that. Term life policies are the cheapest and maybe the most popular between younger people. This type of policy, however, does not build any cash value unless you have a rider that is called a return of premium rider. This means after so many years you can get some of your money back. This does drive the cost of the insurance premium up to get this type of benefit. Term life insurance refers to a term like 10 years, 20 years, 30 years, even up to 40 years nowadays. However, if you buy a 10 or 20-year term limit, be prepared for the price to jump up if you want to stay with that particular insurance company. If you are healthy you can apply what they know their company that will probably give you lower prices for the same coverage. Some people though cannot qualify for another company because of their health. In this case, that person may have to stay with their current life insurance company.

Do I have to pay my premiums by monthly bank draft?  This is the preferred method of payment. This put some people off to because they do not like bank drafts. I can see their point somewhat because you think that someone can just go into your account anytime and draft money? But that is simply not the case. You will sign up for a certain amount to be taken out a certain date in which he used the first time it’s pretty much the easiest way to pay your premium. Some people also are old-fashioned and want to pay by check cash or money order. There are some companies that will still take a monthly premium by one of these methods. Some companies will only let you pay quarterly, semiannually, or annually. Some people also think this system is not safe because it’s not secure. It is arguably the safest method out there and I have heard some of these actually encrypt their data better than the Social Security Administration.

What if I have a health condition like depression, heart attack, or stroke. If you don’t have a terminal health issue, there are companies that will accept you. This is why I have a broker and have access to all kinds of different companies. What one company may not take as a health condition, another company will.