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

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.

A cancer policy is a type of supplemental insurance designed to help cover the costs associated with cancer diagnosis and treatment. It provides financial assistance beyond what regular health insurance covers, helping to ease the burden of out-of-pocket expenses. 

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.