Life insurance is a contract between you and an insurance company. In exchange for regular premium payments, the insurer pays a death benefit to your beneficiaries if you pass away, providing financial support during a challenging time.

The two main types are term life insurance (coverage for a specific period, like 10, 20, or 30 years) and permanent life insurance (lifelong coverage that includes whole life and universal life policies, often with a cash value component).

Consider factors like your income, debt, mortgage, future education costs for children, and any other expenses your family may face. Many people choose coverage amounts of 5 to 10 times their annual income, but it varies based on individual needs.

You can name anyone as a beneficiary, including family members, friends, a trust, or even a charity. It’s essential to keep beneficiaries updated, especially after major life changes like marriage, divorce, or the birth of a child.

Life insurance typically covers most causes of death, including illness, accidents, and natural causes. However, certain exclusions may apply, such as suicide within the first two years of the policy or death resulting from risky activities (depending on the policy terms).

Life insurance costs vary greatly based on age, health, coverage amount, and policy type. Term life is usually more affordable than permanent life. For example, a healthy 30-year-old might pay between $20 and $50 per month for a term policy.

Most policies have a grace period, usually 30 days, to make up a missed payment. If payment isn’t made within this period, your policy could lapse, and coverage may end. Some permanent policies with cash value can cover a missed premium by drawing from the cash value.

Yes, many policies offer flexibility. For example, some term life policies have a conversion option that lets you switch to a permanent policy. Review your policy terms or consult your agent to understand your options for changes or upgrades.

Many policies require a medical exam, but some insurers offer no-exam policies for people in good health. No-exam policies might have higher premiums but offer convenience for those who prefer not to undergo an exam.

Applications are typically submitted online or with an agent and approval times vary, but can be as quick as same day for no-exam policies. You can apply online with us here.