Life Insurance
Life insurance isn’t just about planning for the unexpected — it’s about creating security, building wealth, and protecting your legacy. This section answers your most common questions about how life insurance works, who needs it, and how it can serve as a powerful financial tool while you're still living.
FAQ
What is Life Insurance with Full Living Benefits?
A life insurance you don’t have to die to use. When the unexpected happens, life insurance with Living Benefits, provided by Accelerated Benefits Riders (ABRs), may provide financial support during your lifetime. ABRs are optional, no- additional cost riders that allow you to access a portion of your death benefi ts, on a discounted basis, to be accelerated during your lifetime if you experience a qualifying terminal illness, chronic illness, critical illness, or critical injury or a qualifying diagnosis of Alzheimer’s disease or Lewy Body Dementia.
What is Term Life Insurance with Full Living Benefits?
Death benefit protection for 10, 15, 20, or 30 years with level premiums. This plan serves people who want higher death benefit protection for the same premium compared to permanent life insurance but no potential for cash accumulation or loans. It is also a financial resource to pay for expenses due to a qualifying event.
What is Permanent Life Insurance with Full Living Benefits ?
Besides a lifetime coverage, your permanent life insurance policy may be able to build cash value that can be accessed through policy loans or withdrawals, creating a potential source of income in retirement.
Should I feel embarrassed to talk about my messy finance?
First of all, it’s important to recognize that finances are a deeply personal matter, and many people face challenges with managing them at some point in their lives. You definitely should not feel embarrassed. Struggling with finances is common, and it’s okay to acknowledge that things might not be perfect.
Talking about it can actually be empowering—it shows that you're taking steps to understand your situation and find solutions. Whether it’s seeking advice from a financial expert, opening up to a trusted friend, or simply taking a moment to reflect, sharing your financial concerns is part of the process of making progress.
In fact, many people find that when they open up, they’re met with support and understanding, rather than judgment. It’s a sign of strength to ask for help when you need it, and doing so can ultimately lead to positive change.
You’re not alone in this, and addressing your finances, no matter how messy they may seem, is the first step toward taking control of them.
Will this plan work for me if I’ve never saved or invested before?
Yes, life insurance can still work for you, even if you’ve never saved or invested before. Life insurance is designed to provide financial security for your loved ones in the event of your passing, and it can be a crucial part of your overall financial planning, regardless of your current savings or investment status.
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If you’re starting from scratch, a term life insurance policy might be a good option because it offers affordable coverage for a specific period. It can provide peace of mind knowing that your family will have financial support in case something happens to you.
However, if you’re looking to build savings or investments, you might also consider whole life or universal life insurance, which can provide a death benefit as well as accumulate cash value over time.
Starting with life insurance, even without previous investments, can be a positive step in securing your future and ensuring that you’re protecting those who depend on you. If you’re unsure about which type of policy is best for your situation, it might be helpful to consult with a financial advisor who can guide you based on your specific goals and needs.
When is the best time to start a plan?
The best time to start a life insurance plan is sooner rather than later. Ideally, it's best to begin when you're young and healthy, as premiums tend to be lower, and you're more likely to qualify for better rates. Starting early also gives you more time to build up your coverage and secure peace of mind for the future.
However, it's never "too late" to get life insurance, especially if your circumstances change—such as getting married, having children, or taking on significant financial responsibilities. These life events often highlight the need for life insurance to protect your loved ones in case something unexpected happens.
In short, the best time to start is when you have the financial ability to do so, and when your life situation indicates that others rely on you. Even if you’re in a stable phase of life, having life insurance ensures you're prepared for the unexpected.
Do I have to decide to buy or not to buy at the first consultation meeting?
No. The purpose of the first consultation meeting is to understand your current situation, your goals, and how to get there. The professional expert will help you design the plan as you request and start the underwriting process to make sure you are pre-qualified for the plan you wish to have. This process is 100% free of charge.
Is the concept of Living Benefits life insurance too good to be true?
It’s not too good to be true. It’s too good to be free. When you pay for the cost of being insured, you get protected anytime and anywhere you go (even outside of the U.S.) Life insurance has been around for 300 years. Living Benefits have been around for 20 years, and hundreds of families across the nation have received Living Benefits claims.
What if the insurance company went bankrupt?
If an insurance company goes bankrupt, it doesn’t automatically mean your policy and benefits are lost. In the U.S. and many other countries, insurance companies are regulated at the state level and are required to be members of a state guaranty association. These associations step in to protect policyholders if an insurer becomes financially insolvent.
Here’s how it generally works:
Your policy is typically transferred to another financially stable insurance company, allowing coverage to continue.
State guaranty associations provide a safety net, offering coverage up to certain limits. In most states, this means:
Up to $300,000 in life insurance death benefits
Up to $100,000 in cash surrender value of a permanent life policy
(The exact limits can vary by state.)
That said, it’s always wise to choose a reputable insurer with strong financial ratings. Independent agencies like A.M. Best, Moody’s, and Standard & Poor’s rate insurance companies based on their financial strength. Looking for an insurer with an “A” rating or higher can give you greater confidence in their stability.
So while no company is immune to financial trouble, there are protections in place to help safeguard your policy, and choosing a well-rated insurer adds another layer of security.