Frequently Asked Questions

Life insurance is a contract that may pay a death benefit to named beneficiaries if the insured person dies while coverage is in force. The amount, duration, and conditions depend on the policy.

A coverage amount often considers income replacement, debts, future goals, existing savings, and the people who rely on you. There is no single amount that fits everyone.

Term life insurance generally provides coverage for a set period. Permanent policies are designed to last longer and may include cash value, but costs, guarantees, and non-guaranteed values vary by policy.

Cash value is a feature of some permanent policies. It may grow according to policy terms and can be affected by fees, loans, withdrawals, and performance where applicable. It is not part of term life insurance.

Riders are optional features that may add benefits or flexibility for an added cost or under specific conditions. Availability and details vary by insurer and policy.

In many cases, the policy owner can update a revocable beneficiary. Irrevocable beneficiary designations may require that beneficiary’s consent. Review your policy and consult qualified help when needed.

Some policies require medical underwriting, which may include health questions, records, or an exam. Others use simplified or guaranteed issue processes, often with different pricing or benefit limits.

Age, health, tobacco use, coverage amount, policy type, term length, and underwriting class can affect premiums. Insurers use their own underwriting guidelines.

Compare the coverage period, premium schedule, death benefit, guarantees, exclusions, riders, surrender charges, loan terms, and any values that are not guaranteed. Read the policy illustration and contract carefully.