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Frequently Asked Questions

Your Health & Wealth Agent Help Center

Do I need to buy life insurance?

Answers to the questions below will help you make an informed decision.

If God forbid anything happens to you:

  • Would your dependants be able to maintain their standard of living?

  • Would they be able to pay off the outstanding medical costs of your illness?

  • Would they be able to cover rent, mortgage payments, and other bills?

  •  Would they be able to cover your funeral costs?

If you answered NO to any of these questions, then you may consider contacting us for a free needs analysis to help you decide what type of life insurance meets your needs and budget.

Can I afford to buy life insurance?

Life insurance premiums vary, depending on your needs, age, and health status.  As life insurance brokers, we are committed to helping you identify a policy that meets your needs and budget. Bear in mind that life insurance costs will only get higher as you get older. Moreover, life is not guaranteed. Better to be covered now and not need it than to need it and not be covered. 

How much life insurance do I need?

To figure out how much insurance you need, you will need to consider the following - your income, age, health status, who depends on you, your current cost of living, life expectancy, do you have children, the ages of the children, do you have a spouse, does your spouse work, if yes what is the combined household income.

Our free needs analysis will help you determine how much insurance you need.

Which company is the best for life insurance?

It is not a matter of which company is the best, but which company offers the type of life insurance product that best meets your needs and budget. Most of the products are similar across providers. Our partners are some of the best in the industry and we work on your behalf to find a product that best meets your needs and gives you the best bang for your buck.

When is it too early or too late to buy life insurance?

It is cheaper to buy life insurance at a young age. The younger the better. For parents of young children, purchasing life insurance from birth ensures cheaper premiums. Whole life and Universal life insurance accumulate a cash value that can buy your child's first car, pay for a college education without loans, and set them up for financial stability as soon as they turn 18 or are able to take over their account. 

No matter your age, you should speak with an insurance broker like us to help you find the right policy that meets your need and budget.

Which life insurance is better - Term life or whole life?

It depends on your needs and budget. Term life is cheaper but only lasts a stated period after which coverage terminates. It’s more like a rental. You are entitled to benefits for the number of years you signed up for, usually 10,20, or 30 years. There is no cash value and your premiums paid over the covered years are not refundable unless you buy term life insurance with a return of premium or cash-back option. Some term life insurance products also offer living benefits.  

On the other hand, whole life and universal life insurance policies cost more but last for your lifetime or up to 100 (121 in some cases), whichever occurs first. They also accumulate cash value. As long as your premiums are paid, coverage is for life, until death. This is comparable to owning your home. You can make it your forever home, or sell it and do what you want with your money if you no longer want to live in it. The same way, you can surrender your whole life or universal life policy for the cash value if you no longer want it or just need the cash.

Can I take money from my life insurance policy while I am still alive?

Yes. Life insurance is not for death benefits only. You can get living benefits from certain types of life insurance products. These benefits include critical illness, chronic illness, terminal illness, and disability.

Can I borrow money from my life insurance without penalty?

Yes, you can borrow money from your life insurance if you have a whole life or universal life insurance. There is no penalty for taking a loan from your life insurance policy. You have the option to pay the loan back if you want to. There is no obligation to pay it back.  

Why do I need an annual policy review/audit?

Consumers are speaking and insurance companies are listening! Insurance companies are competing for your business. as a result, existing products are being padded with additional benefits, and new products are being introduced to keep up with consumer demand. 

An annual audit gives you the opportunity to review your current policy, and evaluate your current needs to make sure you are adequately protected especially if there has been a major change in your life. Marriage, the birth of a child, and the purchase of a new home are a few reasons you may need additional coverage.

What is Mortgage Protection Insurance and why do I need it?

Mortgage protection is the insurance that protects your family from being thrown out in the streets in the event of a death or disability that results in your family no longer being able to pay the mortgage. It can be structured to pay off the mortgage, as well as replace your income for a specified period, usually 6 to 24 months.

Research has shown that one in three homeowners do not have the right insurance coverage. People generally think that home owner's insurance protects them. The truth is it doesn't. Homeowner's insurance only protects the property when there is damage to the property. The bank also takes out insurance that protects their investment in the home in case you default on your mortgage.

Mortgage protection is the ONLY insurance coverage that truly protects your family and ensures they are not left stranded. 

There are many ways to structure a mortgage protection policy, so be sure to work with a licensed Insurance Broker to ensure that it is properly structured to meet your family's needs and budget.

Why should I buy insurance from a Broker rather than a captive agent/agency?

If you're considering a change in your life insurance coverage or have no coverage, NOW is the time to take action! Why work with an independent broker instead of a captive agent/agency? 


Independent Brokers like us are not affiliated with any one insurance company. We partner with multiple A-rated insurance carriers to provide top-rated, customized products at very competitive rates, without the hassle of shopping around. We do the shopping around for you in-house and customize a package that meets your needs and budget. Because of our partnerships with multiple carriers, we are not under any pressure or obligation to get you into any specific carrier's products. Our focus is on making sure that your family is adequately protected at a budget that makes sense for you.

Always remember....

Life insurance is a vital part of setting your family up for a stable financial future. Working with licensed Insurance Brokers like us will help you identify your needs, choose the right insurance products that meet your needs and budget, and be empowered to take good care of your family now, and build generational wealth and a legacy for your family's future. One great thing about the Insurance industry is that there are options for everyone. Different products, pricing, and services are out there for each individual to choose from. 


Contact us for a free no obligations needs analysis. You will be amazed at how affordable life insurance can be, and how much you have missed out on by not acting sooner. 

Still have questions about our insurance products or need help finding the right strategy to protect your income and build financial stability for your family? Click the "Contact Us" button below to send us an email and we’ll get back to you ASAP.

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