Questions, answered

Term life covers you for a set period (usually 10–30 years) at a low price and has no cash value. Whole life covers you for your entire life, has fixed premiums, and builds guaranteed cash value — but costs significantly more.

Most people need 10–15 times their annual income. A more precise answer adds your debts, mortgage, future education costs and final expenses, then subtracts savings and existing coverage.

Whole life is best viewed as permanent protection with a conservative, guaranteed savings feature. It can make sense if you need lifelong coverage or have maxed out other tax-advantaged accounts — but it is not a replacement for retirement investing.

Yes. Our rate checker shows your estimated price and likely health class after a few questions. You only share a phone number if you want an advisor to confirm the rate and help you apply.

No. Life insurance prices are set by the carrier and filed with each state, so you pay the same premium as buying direct. We are paid by the carrier you choose.

Coverage simply ends and no benefit is paid. Many policies offer a conversion option to permanent coverage before a certain age, or annual renewal at higher rates. Some carriers sell "return of premium" term that refunds premiums if you outlive it, at a higher cost.

Not always. Many carriers now offer accelerated underwriting that approves healthy applicants up to $1M–$3M without a nurse visit, using prescription history, MIB records and motor vehicle reports.

Yes. You can stop paying at any time and the policy lapses. Term policies have no cash value, so there is no surrender charge and nothing paid back.

In most cases, life insurance death benefits paid to a named beneficiary are not subject to federal income tax. Estate tax can apply to very large estates.

Whole life is best viewed as permanent protection with a conservative, guaranteed savings feature — not a replacement for retirement accounts. It shines when you need coverage that never expires, want guaranteed values, or have maxed out other tax-advantaged options.

With most whole life policies, beneficiaries receive the death benefit, and the cash value is absorbed into it rather than paid on top. Some riders and paid-up additions can increase the total payout.

Yes. You can surrender the policy for its cash surrender value, minus any outstanding loans and surrender charges. Coverage ends when you surrender, and gains above premiums paid may be taxable.

Most modern policies mature at age 100 or 121, when the cash value equals the death benefit. The insurer then pays out the cash value, or coverage continues depending on the contract.

Yes. Final expense, burial insurance and funeral insurance are different names for the same type of small whole life policy.

Level-benefit plans have no waiting period. Graded and guaranteed-issue plans usually have a two-year waiting period for natural causes, during which they refund premiums plus interest. Accidental death is typically covered from day one.

Most people choose between $10,000 and $25,000 — enough for a funeral plus final bills. Our rate checker shows prices for several amounts so you can fit it to your budget.

Usually, yes. Many conditions still qualify for level, day-one coverage with the right carrier, and guaranteed-issue options exist for almost everyone else.

IUL can be a strong tool for tax-advantaged growth and permanent protection when funded properly and held long term. It is not right for someone who needs low, fixed premiums or may cancel in the first 10 years, when surrender charges are highest.

Index credits cannot be negative because of the floor, but policy charges are deducted every month. If the policy is underfunded and credits are low, cash value can decline.

Through withdrawals up to your basis and policy loans, which are generally not taxable as long as the policy stays in force.

Depending on age and carrier, accelerated underwriting can approve up to $1M–$3M. Guaranteed-issue plans are usually capped at $25,000–$50,000.

Not always. If data checks raise questions, the carrier may ask for an exam or medical records. We match you with carriers most likely to approve you without one.

Most mortgage protection plans are term life policies sized and timed to your mortgage, often with living-benefit riders added.

Not necessarily. If your existing coverage already covers your mortgage plus other needs, you may be set. Our calculator helps you check.

Most annuities allow a free withdrawal of about 10% a year. Larger withdrawals during the surrender period incur charges, and withdrawals before 59½ may face a 10% IRS penalty.

Annuity guarantees are backed by the issuing insurer's claims-paying ability, and state guaranty associations provide additional protection up to set limits.

Your Initial Enrollment Period is the seven months around your 65th birthday. Annual Enrollment runs October 15 to December 7 each year, and Special Enrollment Periods apply after certain life events.

Most people pay no premium for Part A. Part B has a standard monthly premium set each year, and private plans have their own premiums and cost-sharing.