We’ve gathered the most useful questions and answers to help you navigate coverage choices with clarity and ease.
1. Are death benefits taxable?
In most cases, the benefit paid to beneficiaries isn’t subject to income tax. Large estates or interest earned can have tax implications—consult a tax professional.
2. How much coverage do I need?
Many Opelika families target 10–15× annual income, then adjust for mortgage balance, debts, savings, and college or childcare costs.
3. Can I own more than one policy?
Yes. It’s common to layer a term policy for income protection with a smaller permanent policy for lifelong needs.
4. How do I choose a beneficiary (and update them)?
Name primary and contingent beneficiaries and review them after major life events—marriage, divorce, or the birth of a child.
5. What riders should I consider?
Common options include accelerated death benefit, waiver of premium, child rider, and term rider—each adds specific protections.
6. How fast can I get coverage?
Accelerated underwriting can approve some applicants the same day. Traditional underwriting may take 1–2 weeks depending on your health profile.
7. Can I convert term to permanent coverage?
Many term policies include a conversion option within a set window. You can switch to a permanent policy without a new medical exam.
8. What are the main types of life insurance?
Term life covers you for a set period (10–30 years) at a lower cost. Permanent life (Whole or Universal) lasts your entire lifetime and can build cash value.
Still have questions? Connect with a licensed local professional for clear, no‑pressure guidance and quotes.