Frequently Asked Questions

A life insurance premium is the amount of money paid to your life insurance company in exchange for your life insurance coverage. As long as your premiums are paid on time, your coverage will remain in place for the duration of your policy (or until your passing).

Your insurance premium may be affected by factors such as your age, driving record, credit score, and the type of coverage you choose.

The average cost of life insurance for a healthy 35-year-old is around $25 a month for a woman and $30 for a man for a $500,000 20-year term policy. If you're a smoker or suffer from major health conditions, expect to pay significantly higher premiums.

If you only need life insurance for a relatively short period of time (such as only when you have minor children to raise), term life may be better, as the premiums are more affordable. If you need permanent coverage that lasts your entire life, whole life is likely preferred.

Final expense insurance is a whole life policy that pays medical bills and funeral expenses when you die. It's also known as burial or funeral insurance. It's a popular choice among seniors.

Disability insurance is also called disability income (DI) insurance. If you become too sick or injured to work for an extended period of time, DI could help cover a portion of your income, including bonuses and commissions. It's important to know that even if you have group long-term disability insurance through your employer, it may not be enough.

The unexpected out-of-pocket expenses of cancer recovery can add up fast. What’s more, medical and non-medical expenses can keep people from completing their cancer treatment. The cash benefits of cancer insurance can help you pay for all of these costs. Further, group cancer insurance is often payable in conjunction with other supplemental health benefits, such as critical illness insurance.

Accident insurance helps you pay for medical and other out-of-pocket costs that you may incur after an accidental injury. This includes emergency treatment, hospital stays, medical exams, as well as other expenses you may face such as transportation and lodging needs.

With a dental plan, you can ensure that you receive the regular cleanings and exams your mouth needs to stay in the best shape possible. It's important to have dental insurance to manage the costs of dental care and ensure everyone's teeth are in excellent shape year after year.