Life insurance, explained.
Straight answers to the questions families ask most, from cost and medical exams to living benefits and taxes.
Straight answers.
How much does life insurance cost?
It depends on your age, health, the type of coverage, and the amount. Term life is usually the lowest cost per dollar of coverage, while final expense and permanent policies cost more but never expire. I'll shop multiple carriers and show you real prices in one call.
Do I need a medical exam?
Often not. Many of the policies I write use a phone interview and a few health questions instead of a medical exam, and some approve the same day.
What is mortgage protection insurance?
It's life insurance sized to your mortgage. If you pass away, the benefit goes to your family, not the bank, so they can pay off the home or keep making payments. Many plans also include living benefits for serious illness.
What are the three parts of an IUL?
An indexed universal life policy does three jobs at once. The death benefit protects your family and is generally paid income-tax-free. Living benefits let you access part of the death benefit early if you're diagnosed with a qualifying critical, chronic, or terminal illness. And the cash value grows based on a market index with a 0% floor, and can be accessed through policy loans for retirement, college, a business, or emergencies.
What is indexed universal life (IUL)?
IUL is permanent life insurance with a cash value account linked to a market index, like the S&P 500. A floor, usually 0%, keeps index credits from going negative, and you can access cash value through policy loans that are generally income-tax-free when the policy is structured correctly.
What are living benefits?
Riders on many policies that let you access part of your death benefit early if you're diagnosed with a qualifying critical, chronic, or terminal illness. Using them reduces the amount paid to your beneficiaries later.
I have life insurance through work. Is that enough?
Group coverage is often only one or two times your salary, and it usually ends when you leave the job. Most families need more, and a personal policy stays with you no matter where you work.
Can I get coverage with health conditions?
Usually, yes. Carriers look at health differently, so a condition one company declines another may approve at a fair price. For final expense there are also guaranteed-acceptance options with no health questions.
Is the death benefit taxable?
Life insurance death benefits are generally paid to beneficiaries free of federal income tax. Estate tax can apply in some situations, so for larger estates I recommend talking with a tax professional or estate attorney.
How do you get paid? Does working with you cost more?
My help costs you nothing. Insurance companies pay agents a commission, and premiums are the same whether you buy through me or directly from the carrier.
What if I change my mind after buying?
Every policy includes a free-look period after delivery, often 10 to 30 days depending on the state and policy, when you can cancel for a full refund of premiums paid.
Do you only work in Florida?
No. I'm licensed in Florida, Texas, Ohio, Virginia, North Carolina, and Michigan, and I work with clients by phone or video wherever they live in those states.
