Life Insurance

FAQs

1. What's the difference between term and permanent life insurance?

   • Term: covers a set period. Permanent: covers your whole life, with a cash value component.

2. How much life insurance coverage do I need?

   • Depends on factors like income, debts, and expenses. Aim for 5-10 times your annual income.

3. Can I get life insurance with health issues?

   • Yes, but it may affect premiums or policy type. Some offer no-exam options.

4. How do I choose a beneficiary?

   • Consider who financially depends on you. Update regularly for life changes.

5. What happens if I miss a premium?

   • Grace period of 30 days. Policy may lapse if unpaid. Some offer reinstatement options.