Frequently Asked Questions
Read through some of the more common questions we field at Life Insurance That Works. If you have a question that is not on our page, please get in touch with our expert team and staff, and we will respond as quickly as possible.
I don’t understand how life Insurance works…can you help?
We think Life Insurance is straightforward. One of our primary goals is to help you feel the same way. We’ll ask a few questions, point you in the right direction with coverage and benefits you understand, finding affordable solutions that work for you.
I have a Health condition, overweight, take medication, or was previously declined for coverage…can you help?
First of all, with us, all of your information is kept 100% CONFIDENTIAL. Insurance carriers have different underwriting criteria. Most (carriers) also licensed medical doctors working along with underwriters to help evaluate health risks based on current lifestyle and previous medical history. Some will accept certain health risks with no extra charge, while others may ask for extra premium or decline. A few may even look at family history. We’ve been writing Life insurance for more than 30 years and know where to guide you. We’ll find coverage that works for you.
I have coverage through my employer, why should I have another policy?
If you have coverage through your employer, you will likely lose that coverage when you retire or leave employment. Most employer-sponsored life insurance offers term life insurance, which you are automatically qualified for based on employment. This coverage likely reduces at certain age intervals (60/65/70). For this reason, you’ll want to consider a personal policy with benefits that work for you and are in your control.
How much coverage do I need?
Everyone has different needs. We’ll help by asking a few questions or having you complete a simple form outlining the expenses you’ll need covered in case of your premature death. These may include various financial obligations like a mortgage, credit cards, future educational needs, and more. We can also cater your amount of coverage to fit your monthly budget.
Will I have to take an exam to qualify?
Not in most cases. We have carriers that offer up to $2 million that require no exam. Again, this is based on which insurance company you consider. If an exam is required, there is no cost for you.
Are there any application fees?
There are NO application fees. Life Insurance That Works for you is committed to keeping our and your costs as low as possible.
Have any questions?
Are there any Federal or state Taxes due on Life insurance proceeds?
If the premiums were written off as a deduction on your (or employer's) income taxes, then yes, the death benefit is taxable (this would normally be the case if your employer paid for your coverage with no deduction from your income).
How long does approval take?
The normal process is 3-21 days. A few reasons this might take longer can be based on the amount you are applying for, which carrier you select, and your medical history (provider timing on releasing your medical records).
Do I need to visit with an Agent?
If you need to meet with an agent, we can come to you or you can come to our office if not we can use common online communication tools like Zoom or FaceTime are available. All of your information is 100% CONFIDENTIAL, so please let us know what works for you!
Get in Touch – We’re Here to Help!
Contact our life insurance experts and staff to receive personal guidance about your life insurance needs. Whether you have a question, need a custom quote, or are looking for advice on your unique situation, we are here for you.