Life Insurance FAQs

Life insurance is a contract between you and an insurance company. In exchange for premium payments, the insurer provides a lump-sum payment, known as a death benefit, to your beneficiaries in the event of your passing.

Life insurance provides financial security for your loved ones. It can help cover expenses like funeral costs, debts, or ongoing living expenses, ensuring that your family is protected.

We offer the following types of life insurance:

• Term Life Insurance: Provides coverage for a specific term (e.g., 10, 20, or 30 years).
• Whole Life Insurance: Offers lifelong coverage with a cash value component.

• Term Life Insurance: Temporary coverage for a set period. More affordable but no cash value.
• Whole Life Insurance: Permanent coverage with a savings component, which grows over time.

The amount depends on your financial situation, including income, debts, living expenses, and future needs. A general rule of thumb is to have coverage worth 10-12 times your annual income.

You can name any individual(s), trust, or entity as your beneficiary. Common choices include spouses, children, or charities.

Yes, you can update your beneficiaries at any time by contacting us.

Premiums are based on factors such as age, health, lifestyle, and the type and amount of coverage you choose.

If you miss a payment, there is usually a grace period during which you can pay without losing coverage. However, it's important to pay on time to avoid policy cancellation.

Beneficiaries can file a claim by contacting our customer service team and submitting the required documentation, including a copy of the death certificate.

Claims are typically processed within 30 days after receiving all necessary documents.

Yes, you can cancel your policy at any time. For permanent policies, you may receive the cash surrender value.

A rider is an add-on to your policy that provides additional benefits, such as accidental death coverage or waiver of premium in case of disability.

Generally, the death benefit is not subject to income tax. However, there may be exceptions, so it's best to consult a tax advisor.