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Life Insurance 101: Top answers for your tough questions

Life Insurance Frequently asked questions

If you’re new to life insurance then you’re in the right place. If you have questions that are not listed here please contact us and we will be happy to assist you. You can also read more about us.


Life Insurance Frequently Asked Questions

Don’t see an answer to your specific life insurance 101 question? You can browse our articles by category.

View our Life Insurance Categories

What is term life insurance?

Who are the best life insurance companies?

What life insurance health classification am I?

How much life insurance do I need?

How long is the Life Insurance approval process?

How does family health history affect my life insurance rates?

What are the reasons for life insurance?

Do I have enough Life Insurance?

How long of a term do I need?

What’s the difference between Term and Whole Life Insurance?

What is Infinite Banking?

How to choose a beneficiary for life insurance?

Is it cheaper to apply through the actual life insurance carrier?

How do I pay for my life insurance policy?

I’ve had some health issues. Can I still get Life Insurance?

What do life insurance companies consider “tobacco use”?

How do I prepare for a life insurance exam?

What do life insurance medical exams test for?

How much does life insurance cost?

How do life insurance agents get paid?

Should I buy life insurance on my children?

What Life insurance riders are available?

Is life insurance taxed?

What is the difference between fully underwritten and no exam life insurance?

What other types of life insurance are available?

Besides term and whole life insurance there are other types of life insurance products available. It is good to know what your options are so you can tailor your life insurance policy to your specific need. More info is available in our article on the most common types of life insurance. The other types of life insurance you need to be aware of are:

Universal Life Insurance:

Business Owner Life Insurance:

Guaranteed Issue Life Insurance:

Return of Premium Life insurance:

Still have a question? Please leave any comments or questions below.

20 comments… add one
  • Pandora

    My husband is still working 60+ hours a week at age 69. His job is physically demanding and he is handling it well. He is not currently on any medication nor been diagnosed with any issues. He is a smoker however.
    He has company supplied life insurance. He wants a policy in addition to his company policy in the amount of 200,000. He realizes he will need a paramed exam and really doesn’t want to take one but will.
    He has no intention of retiring and states he will probably pass while out here on the road. He’s a traveling industrial electrician.
    Which type of policy would you recommend. He realizes that at his age he will only get a 10 year term.

    • Pandora,

      From what you say, it sounds like your husband may be able to qualify for a $200,000 dollar life insurance policy without taking an exam. We will have an agent reach out to you so that you can get the details and price for such a policy.

      Thanks,

      TermLife2Go.

  • Terri

    Trying to get life insurance on my brother

  • Jen T

    Hello, Termlife2go! I was actually, crazily enough!, Googling to see if the Internet had any actual game shows (like Price Is Right or what have you ;D), and low and behold, I arrived at your page on game shows!

    When I finally read your small paragraph on why you guys added that info to the site, there was just something about the honesty and total _ sweetness_ of the intention that I spent another hour learning about your company!

    My husband and I have had life insurance since our late 20s (I’m 43, now ;D Nice and old!), so I don’t know that I’m really in the market for _more_, but I AM considering it! ;D I didn’t really have a question for you, but I did want to say this…

    For a site that I would generally consider mostly clickbait (and it is, to be fair ;D), there’s an overall vibe here… kind of like, “We would like to make some money being in business, too, but if the overarching outcome of our information helps you in life, we’ll consider that one a win!” And while that seems like such a simplistic idea of business (and to be fair, it is!), it’s something that’s so lost these days! And, in all honesty, something that on a site like this one would be COMPLETELY nonexistent. [As a matter of fact, I ran a few searchings for people who would be in direct competition with you, and it was exactly as I assumed. No personal connection what-so-ever!]

    It’s really hard (in marketing, on the internet, even in life, sometimes) to know a person’s (business’) true intentions. Obviously, I’m totally unaffiliated with Termlife2go, so I have no idea what kind of folks you are, but if I had to place a bet, I’d go with “good!” I wish you the best of luck with your business. =D

    • Jen,

      Thanks for your kind words we really appreciate it.

      And if you happen to make it on a game show… Let us know, we’d love to cheer you on!

      Thanks,

      TermLife2Go.

  • katonia

    We are seeking life insurance for my wife’s father. His health isn’t great and from what I’ve been able to come up with he would need high risk life insurance. Can you please send me some info on what we would need to do. Thank you

    • Katonia,

      Your best bet would be to just give us a call so we can learn more about what your father-in-law would be able to qualify for.

      Thanks,

      TermLife2Go.

  • louis and linda b.

    Hi, We would like to start a grow up plan for each of our 5 grandchildren. Could we get the necessary forms for this please.

    • Louis and Linda,

      Please be on the lookout for an email from one of our agents who specializes in these types of life insurance policies.

      Thanks,

      TermLife2Go.

  • Omar

    I am a 36 yr old Mexican, living in Mexico City. I have business ties with the U.S. and would like to apply for life insurance in the U.S., could you please send me more details on what I need to qualify… I am preferred plus

    • Omar,

      We will have an agent reach out to you shortly to determine if you will be eligible or not.

      Thanks,

      TermLife2Go.

  • My husband was diagnosed with Multiple System Atrophy (MSA) in July of 2015. His neurologist said it is an incurable disease but treatable with medications (similar to Parkinson’s). What type, and how much, insurance would he be eligible for? He is 61 years old.

    • Helen,

      It sounds like your husband as been diagnosed with one of those conditions which we will generally want to “run by” a couple of insurance underwriters prior to actually submitting a life insurance application. This way we can get a “feel” for what he may or may not be able to qualify for.

      That is of course after asking a serious of questions so that we can get a preliminary idea about his over all health.

      For this reason, we would simply suggest that you give us a call so that we can get a better idea about your husbands “total health situation” as well as a general idea about how much coverage you would need. Without such information, we simply wouldn’t want to hazard a guess about what he may or may not be eligible for.

      Thanks,

      TermLife2Go.

  • Ann

    Hi, can I put in that I’m a non smoker if I just quit smoking? What if I die tomorrow and they found nicotine in me. Will there be a payout?

    Thank you.

    • Ann,

      The question on the application regarding tobacco use will sound something like this…

      “In the past 12 months, have you used any tobacco or nicotine products?”

      If the answer is yes, then you are a smoker. Now there are some companies that will consider cigar, pipe, chewing tobacco and electronic cigarettes differently than traditional cigarettes which is why you should just give us a call for a complete answer.

      Additionally, some types of policies depending on how much coverage you are looking for won’t “ask” if you are a smoker or not which is another reason why you should just give us a call so we can see what we can do for you.

      Thanks,

      TermLife2Go.

  • ROBERT G

    PLEASE DEFINE THE HEALTH CLASS:
    PREFERRED PLUS?
    PREFERRED?
    REGULAR PLUS?

  • Cathy Barney

    Can a family member become state certified as an in home care aide and be compensated by American General? I would like to care for my mother in my home. She has Alzheimer’s and has been accessed at level 3.

    • Cathy,

      Unfortunately, your questions falls outside of our area of expertise. We here at TermLife2Go only work in the life insurance industry, so it would be inappropriate for us to try to answer your question. You might want to try to contact American General directly.

      Thanks,

      TermLife2Go.

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