Insurance Coverage Solutions by Western Insurance Connection
Frequently Asked Questions
Over the years, these questions come up often:
- How much does life insurance cost? For a healthy 30-year-old non-smoker, $500,000 in term coverage might run $20-50 per month, varying by factors like age and policy type.
- Do I need a medical exam? Usually for standard policies, but simplified issue alternatives exist.
- Can I adjust my policy later? Yes, many term policies convert to permanent without re-examination.
- What about pre-existing conditions? Coverage is available, but expect higher premiums—full disclosure is key.
- Is it taxable? Death benefits are tax-free, though cash value transactions may have tax implications.