Life Insurance FAQ

Q: What is life insurance, and why do I need it?

A: Life insurance is all about financial protection. Think of it as a way to provide for your loved ones if you’re no longer around. It can help cover big expenses like mortgage payments, kids’ education, or everyday living costs, giving your family some financial breathing room.

Q: What’s the difference between term and whole life insurance?

A: Term life insurance covers you for a specific period, like 10, 20, or 30 years. It’s generally cheaper, making it popular for covering certain phases of life, like while kids are young or a mortgage is being paid off. Whole life insurance, on the other hand, lasts your entire lifetime and builds cash value, which can be a financial asset in itself. It’s more of a long-term commitment but can provide lifelong security.

Q: How much life insurance do I need?

A: This varies. A general rule of thumb is to have coverage that’s 10–15 times your income, but it really depends on your family, your lifestyle, and financial goals. We can walk you through some numbers to find what works best for you.

Q: I have life insurance through work. Do I need more?

A: Employer-provided life insurance is a great benefit, but it’s often limited. It’s usually one to two times your salary, which may not be enough. Plus, if you change jobs, you might lose that coverage. Having your own policy can give you peace of mind, no matter where your career takes you.

Q:  How do I choose a plan?

A: Consider financial needs, age, and family situation.

Q: How much coverage should I get?

A: Aim for enough to cover debts, income replacement, and future expenses.