Life Insurance FAQ

Do I need life insurance?

Yes and no. No one needs it, but it does help provide for your loved ones should you pass away. If you have a family, you should definitely consider it.

When is the best time to buy life insurance?

The best time to buy life insurance is when you are young. Rates are lower for younger adults. But anyone can buy it at any time.

What is a beneficiary?

The person or entity named as the recipient of your policy’s death benefit. It can be a family member or even a business or non-profit organization.

How much life insurance will I need?

A good rule of thumb is six to 10 times the amount of your annual salary.

What is term life insurance?

Term policies are sold for specific lengths of time, usually between 10 and 30 years.

What is permanent life insurance?

Permanent life insurance never expires and includes a cash value that grows with the policy

What is variable life insurance?

Variable life insurance is a type of permanent life insurance that pays a tax-free sum to your beneficiaries. It also offers investment opportunities for the policy’s cash value.

What is whole life insurance?

Whole life insurance covers you for life with a guaranteed return on the policy’s cash value. As long as you pay your set premium, you are covered.

What is universal life insurance?

It is a permanent life insurance where the excess of premium payments above the current cost of insurance is credited to the cash value of the policy. You can also reduce or stop your premiums to use your cash value to pay premiums in case you face financial hardships.

What is variable universal insurance?

A permanent life insurance policy that allows the ability to accumulate cash value with flexible premiums and a flexible death benefit.

What are the tax advantages of life insurance?

Death benefits are generally received as tax-free income by your beneficiaries. This will depend on the type of life insurance and the policy. Consult with your insurance agent for more information.

How do I buy life insurance?

Insure One offers life insurance policies that are customized to you. You can call us today at 800-836-2240 to get a free life insurance quote.