Clear, plain‑language answers to help you evaluate coverage types, quotes, and next steps—at your own pace.
1. 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.
2. What is life insurance?
It’s a contract where you pay premiums and the insurer pays a lump‑sum benefit to your beneficiaries if you pass away while the policy is active. The benefit can help with funeral costs, debts, mortgage payments, and day‑to‑day expenses.
3. 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.
4. How are premiums determined?
Age, health, tobacco use, coverage amount, and policy length/type all affect price. Generally, younger and healthier applicants pay less.
5. What happens if I miss payments?
Term policies usually lapse after a grace period. Some permanent policies can use built‑up cash value to keep coverage active temporarily.
6. 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.
7. How much coverage do I need?
Many Springfield families target 10–15× annual income, then adjust for mortgage balance, debts, savings, and college or childcare costs.
8. 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.
Still have questions? Connect with a licensed local professional for clear, no‑pressure guidance and quotes.