Frequently Asked Questions
What if I’m uninsurable or have poor health?
No problem, if you want to move forward, there is almost always a family member or someone with insurable interest, which will still allow you to be the owner of the policy. Simply put, if you want this, we will help make it happen for you.
Can I pay for my policy monthly or yearly?
You have the ability to fund your policy monthly, semi-annually, or annually. There is a lot of flexibility, unlike other insurance products regarding how you can fund your policy.
Can I write a Cash Value Life Insurance Policy for my children?
Yes, in fact this is an even better alternative to 529 college savings plans.
Can I have more than one policy?
Yes, in fact we have clients with upwards of 10 policies on themselves and even more when you account for family members. There is no cap on how many you can own.
What is the completion time from application to placement of coverage?
From beginning to end, it is typically 1-2 weeks on average. We do all the work to make sure things go through underwriting smoothly and keep you informed throughout the entire process.
What happens if the insurance company goes out of business?
This is incredibly unlikely because insurance companies are the most stable financial institutions, and are required to carry cash reserves greater than, or equal to, all the death benefits combined. In the unlikely event that it did ever occur, we have multiple carriers that would purchase the contract.
What if the government changes rules around Cash Value Life Insurance?
Since it is a private contract, once it is in place, it cannot be altered by any government changes going forward. This is why it is important to take action now, since we don't know what the government will do in the future. The last major change was in the 1980's and we feel there will be another one in the near future, but it is important to note that all policies grandfathered before the changes will not be affected.