Frequently Asked Questions
Why do I need life insurance?
One of the most important reasons to get life insurance is to protect those you love from financial catastrophe if you should die prematurely. According to recent life insurance statistics**, if the primary wage earner were to pass away, 70% of households (with a child under the age of 18 years) wouldn’t be able to keep up with living expenses.
What is the difference between term life and whole life insurance?
Term life insurance provides protection for a specific period of time (typically 10, 15, 20 or 30 years). If you die during this term, the benefit will be paid out to your beneficiaries. Term life insurance is usually the most affordable way to carry life insurance.
Can I get life insurance if I have a pre-existing medical condition?
Even with a pre-existing medical condition you can typically find an insurance company that will offer coverage. It’s important to work with an agent that is familiar with policies for clients with pre-existing medical conditions to get the best rates.
How much life insurance do I need?
The amount of life insurance that you need varies on your circumstances, but a good rule of thumb is:
- Your income x 10, plus $100,000 per child.
- Add up any debts that will need to be covered in the event of your death. For example, your mortgage, loans, funeral costs, etc.
- Subtract existing assets such as your savings, life insurance funds, etc.
TermLife2Go is dedicated to providing our clients with exceptional customer service. Our agents work tirelessly to help you find the life insurance policy that is right for you, your family, and your budget. We have an advantage because we work with a variety of insurance providers instead of being tied to one so we can help you choose the best rates and coverage for you.