|
Life Insurance FAQs
Frequently Asked Questions
Here are
answers to some of the most commonly asked questions about life insurance.
Insurance laws vary from state to state so the information provided may
not apply in all situations. Of course, some questions are unique to you.
If you don’t find what you’re looking for, we’re here to answer all of
your insurance questions.
How much life insurance do I need?
A general rule of thumb to calculate your insurance needs is to multiply
your annual salary by seven. For a more precise calculation, use our
Calculator.
Back to Top
Should I select term insurance or permanent insurance?
Term insurance offers low cost in early years, but the premiums
drastically increase as you get older. Because of the increasing cost of
premiums, term insurance normally dies before you do.
Permanent life insurance offers guaranteed level premiums, non-forfeiture
options, build up of cash value, collateral for borrowing money against
cash value (however, loans will decrease the cash value and face amount of
the policy.)
Back to Top
Why should I purchase life insurance when I can get a better return in the stock market?
Life insurance is not an investment tool. The primary reason to buy life
insurance is provide guaranteed financial protection for your family.
Back to Top
Do both spouses need life insurance?
Yes, whether your family is being supported by one or two incomes, the death of one spouse will usually impact necessary cash flow.
Back to Top
Why should I have personal life insurance when I’m already covered by my group plan?
Group coverage is not portable. In the future, you may change jobs, lose
your job, or become disabled. Also, you risk the possibility of becoming
uninsurable at a later date.
Back to Top
Why should I have life insurance for my children or grandchildren?
For the some of the same reasons you have it yourself! Also, it’s a great
idea to buy life insurance on children when their insurability is highest
and premiums are lowest.
Back to Top
How do I contact an agent?
We have licensed agents on staff to serve your needs in 39 states. Please
contact our Customer Service Department for the agent near you.
Back to Top
| 
