FAQ

It’s a personal decision that should be made by each person individually. The main purpose of Life Insurance is to protect your loved ones financially (from losing a house, assets, income, etc.), in case of your demise. Whole Life insurance can also build up cash in it which can be borrowed against, if needed (for children’s college, retirement, etc.). Other people need Life insurance for the estate tax purposes. Some policies have Accelerated Death Benefit feature that allows receiving the death benefit in case of a terminal illness, or a need for assisted living, or nursing home care.

Yes, we can.

The main purpose of the Mortgage Life insurance is to protect your family from losing the house in case of a death of one of a family members: the death benefit normally equals the mortgage amount, and the premiums may decrease from year to year, as the mortgage amount goes down. For more information about Mortgage Life Insurance, please, read here.

Yes, it is possible. That is called a Return of Premium product: a person gets coverage for a specific period of time, and if still alive at the end of the specified period, gets all the paid premiums back. This type of Term life insurance is more expensive than a regular Term life insurance. However, a lot of people strongly believe into it and look at it as buying a life insurance “for free”. There are other types of insurance policies – Permanent Insurance, which can build up “cash value” – money. That grows on a tax-deferred basis and uses compounding interest. This can also be used to help supplement retirement savings

Forever – with a Permanent Insurance. 35 years – with a Term Insurance.

Yes. The bankruptcy proceedings should be discharged for at least 12 months though.

Yes, you can. More than that – you can get the BEST insurable class for certain types of skin cancer!

Absolutely, yes.

Yes. You can.

As long as your cholesterol is controlled, and everything else from the medical point of view is good, you can qualify for the best insurance class, which means that you can get life insurance for the lowest cost.

• Reviewing the quotes run by your agents and deciding what insurance plan and rate is best for you
• Filling out the application
• Completing the medical exam at your home or work (your insurance agent will set the exam up for the convenient for you time and place)
• Making the first premium payment
• Receiving the insurance policy.

Yes, you can.

For most of the insurance companies, to qualify for the best insurable class, a person should have no personal history of disease or impairment that would affect mortality; normal (or well-controlled with medications) reading of blood pressure and cholesterol; no cardiovascular disease or cancer in either parent or siblings before age 60; good driving history; no use of tobacco; no substance or alcohol abuse. There may be other factors.

It depends on the type of insurance. It can take 2 days for a Guaranteed Issue policy (normally, easy application with no-medical questions, no paramed exam, or other requirements). Or 2-6 weeks for a regular policy (depending on how soon you take a paramed exam, and how soon your doctor sends out your medical records – in case the insurance company requests to see them).

Yes. Every insurance company looks differently at smoking, but for most of them, to be considered a “non-smoker”, you should not have a cigarette for at least12 months. Some companies would even allow recreational smoking of cigars, tobacco chewing or pipe smoking. The longer you go without smoking – the better “non-smoking” rate you will get.