Insurance FAQs

The main difference between term life insurance and whole life insurance is how long the coverage lasts and whether it builds cash value.

Term Life Insurance

• Covers you for a set period (e.g., 10, 20, or 30 years).
• Pays a death benefit if you pass away during the term.
• Typically has lower premiums compared to whole life.
• Does not build cash value—you’re only paying for coverage.
• Good for temporary needs, like income replacement or paying off a mortgage.

Whole Life Insurance

• Provides lifelong coverage as long as premiums are paid.
• Includes a cash value component that grows over time and can be borrowed against.
• Has higher premiums than term life insurance.
• Offers guaranteed death benefits and fixed premiums.
• Suitable for long-term financial planning, estate planning, or leaving a legacy.

Choosing the right life insurance policy depends on your financial goals, budget, and the needs of your loved ones. 

Key Steps to help you decide:

• Determine your coverage needs
• Choose between Term and Whole life
• Asses your budget
• Consider additional features

Your agent can help you choose what may be best for your situation.

The cost of life insurance is influenced by several key factors, including your personal details, policy type, and coverage amount. Here are the main factors that affect your premiums: 

• Personal Factors: age, health condition, lifestyle choices, medical history.
• Policy Related Factors: type of policy, coverage amount, and policy length.
• Occupation & Hobbies
• Gender

Yes, you are able to make necessary changes to your life insurance policy, such as increasing or decreasing coverage, adding riders, or changing beneficiaries.

Your agent can help you with any changes you may need to make.

You can make a claim on your life insurance policy by contacting your agent or insurance provider and submit the necessary documentation.

Accidental Hospital Coverage is a type of insurance that provides financial benefits if you are hospitalized due to an accident. It helps cover medical expenses that may not be fully paid by your primary health insurance. 

Key Features:

• Pays for hospital stays resulting from accidental injuries.
• May cover additional costs like surgeries, ICU stays, ambulance fees, and follow-up care.
• Benefits can be paid directly to you or the medical provider, depending on the policy.
• Often used to supplement health insurance by covering out-of-pocket costs.

Financial literacy is understanding how money works—from budgeting and saving to insurance, investing, and retirement planning. It matters because it helps you make informed decisions, avoid debt traps, build savings, and prepare for life’s big milestones with confidence. 

Absolutely! You don’t need to be a math whiz to manage your money wisely. We break down complex topics into simple, real-life steps that make sense—so you can feel comfortable and confident with your finances. 

Estate planning is the process of legally arranging how your assets and responsibilities will be handled if you become unable to manage them, or after your passing. It ensures your wishes are honored, your loved ones are protected, and your estate is distributed the way you choose—not the courts. 

A basic estate plan often includes:

• A Will (who gets what) 
• A Trust (for managing assets and avoiding probate) 
• Powers of Attorney (financial and healthcare) 
• A Healthcare Directive (medical decisions)
• Beneficiary Designations (on life insurance, retirement accounts, etc.)

Life insurance provides immediate funds for your family, helping cover final expenses, debts, or taxes. It can also be used to:

• Leave an inheritance
• Equalize your estate among heirs 
• Protect a family business 
• Fund a trust 

It’s one of the most flexible and powerful tools in estate planning.

If you pass away without a will or estate plan, your state’s laws decide how your assets are distributed—often through a long, public, and expensive process called probate. Estate planning helps avoid that and puts control in your hands. 

Long-term care refers to services that help with daily living activities like bathing, dressing, eating, or mobility—especially due to aging, chronic illness, or injury. You might need it at home, in an assisted living facility, or a nursing home. Most people begin needing care in their later years, but it can happen at any age. 

Not fully. Health insurance and Medicare typically cover only short-term medical needs—like hospital stays or rehab—not ongoing personal care. That’s why long-term care insurance is so important: it helps cover what traditional plans won’t. 

Anyone who wants to:

• Protect their retirement savings 
• Maintain control over where and how they receive care 
• Relieve loved ones from physical and financial caregiving burdens 
• Preserve dignity and independence later in life 

It’s often most affordable when purchased in your 40s–60s, before health issues arise.