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Frequently Asked Questions

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Policy Questions

What is Life Insurance?
Life Insurance offers a way to replace the loss of income that occurs when someone dies (usually the person who produces the majority of income in a family situation). It is a contract between you as the insured person and the company or "carrier" that is providing the insurance. If you die while the contract is in force, the insurance company pays a specified sum of money income tax free to the person or persons you name as beneficiaries.
Do you really need Life Insurance?
If there is someone who would suffer economic hardship if you died, then you need life insurance. Funeral expenses, probate and administrative fees, outstanding debts and paying for the children's education are costs that must be considered. Life insurance can provide the financial security needed to give you peace of mind.
What is the difference between Whole and Term Life Insurance?
The two basic types of life insurance are permanent life insurance and term life insurance. The main differences between the two types lies in the length of time for which coverage is provided, and whether the policy offers a cash value -- a set amount of money available if you terminate the policy before its maturity or before your death.
What is an Annuity?
An annuity is a savings plan that provides primary or supplementary retirement income. It is an insurance contract that serves the opposite purpose of the death benefit of a life insurance policy. An insurance company pays annuity benefits while you are alive.
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