Life Insurance FAQs

Life Insurance Info

1. How do I apply for Life Insurance?
2. Will I need a medical exam to qualify?
3. When does my coverage begin?
4. Do I need to send a check with the application?
5. What companies will you show me?
6. What about coverage on my spouse and/or children?
7. What is the difference between standard and preferred rates, and how do I qualify for preferred rates?
8. What if I smoke cigarettes?
9. What about other tobacco use?
10. What happens if I become disabled?
11. Will my policy ever be cancelled because of health reasons?
12. After the initial period of guaranteed premiums, what will my insurance cost?
13. Is there a money-back guarantee?
14. How much life insurance do I need?

1) How do I apply for life insurance?

Start by filling out the Life Quote Request Form. If you have questions, we can walk you through the process over the phone. Once everything is set, the completed application will be sent to you for review and signature—along with a stamped, pre-addressed return envelope.
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2) Will I need a medical exam to qualify?

In most cases, yes. The exam is provided at no cost to you and is conducted at your convenience—at home or work—by a licensed paramedic or doctor. It typically includes a blood and urine sample, blood pressure check, height/weight, and questions about your medical history. It takes about 20–30 minutes.
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3) When does my coverage begin?

Coverage starts once the insurance company approves your application and receives your first premium payment. If you’re replacing an existing policy, don’t cancel it until the new policy is approved and active.
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4) Do I need to send a check with the application?

Submitting your first premium payment with your application can trigger temporary conditional coverage during underwriting. However, it’s not required—you can wait until after approval to pay your first premium.
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5) What companies will you show me?

We only work with top-rated insurance carriers—those with a solid reputation for strength, reliability, and paying claims. Each company we use is rated A, A+, or A++ by A.M. Best. You’ll receive a financial profile of each carrier we quote—many will be names you already recognize.
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6) What about coverage on my spouse and/or children?

In most families, both spouses have coverage. The financial impact of losing either parent—whether working or not—can be significant. Time off work, job changes, or childcare needs can all strain finances. Children can also be insured to help with final expenses or to lock in future insurability.
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7) What is the difference between standard and preferred rates, and how do I qualify for preferred rates?

Preferred rates are given to individuals in excellent health with no risky habits or history. Requirements vary by company but typically include ideal height/weight, low blood pressure/cholesterol, no tobacco use, no significant health issues, no risky hobbies, and no history of substance abuse. You could qualify as preferred with one company and only standard with another—that’s where we help.
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8) What if I smoke cigarettes?

Smokers generally pay higher premiums. Most insurers require you to be smoke-free for at least 12 months to qualify for non-smoker rates. Some may require even longer.
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9) What about other tobacco use?

Many companies lump all tobacco use—cigars, pipes, chewing tobacco—into the same smoker category. However, some insurers allow non-cigarette tobacco users to qualify for non-smoker rates. We know who they are and will quote accordingly.
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10) What happens if I become disabled?

Many policies offer a “waiver of premium” rider. If you become totally disabled for six months or more, the insurance company will pay your premiums. This rider must be selected at the time of application and is typically unavailable after age 55–60. Even if it drops off at age 60–65, if you were already disabled, the benefit continues for the duration of the disability.
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11) Will my policy ever be cancelled because of health reasons?

No. Your policy can’t be cancelled due to a change in health. As long as you pay your premiums, your coverage remains intact. You can cancel at any time, but the company cannot cancel you for medical reasons.
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12) After the initial period of guaranteed premiums, what will my insurance cost?

Most policies include a guaranteed maximum renewal rate—this is the most you'll ever pay. Current (non-guaranteed) renewal rates are often lower, but they can change. After your initial term, you may also apply for new coverage at lower rates, if you're still healthy. This is called "reentry," but future health is not guaranteed, so buy the right policy up front.
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13) Is there a money-back guarantee?

Yes. If you change your mind during the application process, you’ll get a full refund. Once the policy is issued, you’ll also have a “free-look” period (usually 10–30 days, depending on state) to cancel and receive a full refund.
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14) How much life insurance do I need?

A Simple Formula...
It’s not about complex equations—it’s about replacing your income. If you make $50,000 annually and buy an $830,000 policy, assuming a 6% return, that could generate $50,000/year in interest—without touching the principal.

If you expect a lower return, adjust the multiplier:

• 12.5x income @ 8%
• 16.6x income @ 6%
• 25x income @ 4%

* These examples are for illustrative purposes only. No product or rate is implied.
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