Andy Kelly, Life Insurance Broker

Answer: I always recommend that people have an accurate medical profile, list of medicines, etc. This doesn't have to be a formal document but will help your agent recommend the policy options that are most suitable for your situation. It's also important to be able to share if you have other policies and sometimes those need to be noted on the actual application, so having them available to review is helpful. Last, many policies require some fiscal disclosure. It's important to have an idea about total debt, net worth, etc.

Answer: Yes, many companies offer policies up to age 80 or 85 for enrollment. Most of these policies are framed as "final expense" insurance because given mortality rates there isn't a significant amount of time to build cash value. I'm an independent insurance agent who works with multiple providers. It might be helpful to find someone who is independent and works with numerous providers so that you can compare costs to find the best value that meets the needs of your family. Certainly, as we age, it becomes more expensive and challenging (depending on health) to secure life insurance. Challenging-but not impossible!

Answer: It depends! All companies and policies are different. Several of the companies that I work with allow for term-to-permanent conversions... but some do not. If this flexibility is important to you, it's important to know that up front.

Answer: To find a trustworthy life insurance agent, I'd start with a conversation, hopefully face to face, and make sure that the agent is interested in helping solve your need/concern. I would avoid someone who is hard selling a single product (perhaps the one that pays them the most commission). I also think it's reasonable to ask the agent for references. I've had several clients ask that of me and I provide their information to my existing clients who reach out and share their experience in working with me. My goal as a life insurance agent is to build relationships with clients, over time, as opposed to make a quick sale/transaction.

Answer: A joint life insurance policy and a survivorship life insurance policy both insure two people, but they differ in when the death benefit is paid.

A Joint Life (First-to-Die) policy pays the death benefit when the first insured person passes away. The policy then ends. This type of coverage is commonly used to provide financial protection for the surviving spouse, pay off debts, or replace lost income.

A Survivorship Life (Second-to-Die) policy does not pay when the first insured dies. Instead, it remains in force and pays the death benefit only after both insured individuals have passed away. These policies are often used for estate planning, leaving an inheritance to children or grandchildren, funding trusts, or helping preserve family wealth.

In simple terms:

Joint Life = Pays on the first death.

Survivorship Life = Pays on the second death.

If you'd like, I'd be happy to discuss which option may be the better fit for your family's goals and financial plan.

Answer: It all depends on your goals. How much do you need vs. how much is the insurance? Can your family sustain itself without your income? How many years of income replacement do you need? How much debt are you carrying and can your spouse/family pay it off? The other consideration is that "work" life insurance typically expires when you end your employment. Should your health deteriorate that you can't buy replacement insurance, you may not be able to replace it.

Answer: When I, as a consumer, look to purchase insurance I investigate two elements. First, what is the reputation of the "company?" Reviewing the historical compliance as well long-term customer feedback will usually give a good picture of the stability and integrity of the company. Next, I want to work with an agent who has integrity and positive reputation. Ensure that the person is really focused on my best interest, not just making a quick commission. I have several clients who have offered to serve as references to other potential clients. Transparency, honesty, and service are observable traits that you can consider when looking at a potential life insurance provider.

Answer: Prices for a 30-year-old consumer can vary widely. Term insurance is less expensive but only pays if you pass during that term (10, 20, or 30 years) Whole life products are more expensive because they pay a guaranteed death benefit when the owner passes. Whole life policies have a growing "cash" value and depending on the company additional dividends may be paid into the policy and depending on the type of policy the death benefit can also grow. So-the first question is always, how much do I need and what's the purpose of the life insurance.

Answer: Yes you can! As a father, I did, and I certainly recommend it for my friends and family, as well as clients.

Reasons:

1) If you buy the "right" whole life product for, say, $100,000, you ensure that your child will have a base policy as they mature into adulthood. Young kids are typically healthy. Waiting puts them at risk of being "uninsurable" should something happen to them as they grow. Several diseases, diagnoses, and medications can make someone uninsurable. You being proactive ensures they have protection for their family.

2) Many whole life policies grow in both cash value and death value significantly. Most whole life policies can be borrowed against for a car, home, or college, as needed.

It's just a smart investment.... as a father and an insurance agent.

Answer: Start by checking with the NAIC Life Insurance Policy Locator. You don't need to know the company or policy number.

Answer: The answer to this question depends on what problem you are trying to solve. Are you wanting to ensure that your family has enough for final expenses? Are you worried about income replacement for a certain number of years? Are you wanting to make sure that your mortgage is paid off? Are you wanting to leave a legacy gift for your children/grandchildren? Once you know what your goal is, the calculation about benefit is pretty straight forward.

Answer: Most people list a "contingent beneficiary" so that if your primary beneficiary passes before you the policy can still benefit one of your loved ones or the charity of your choice. Your life insurance agent should be able to facilitate this for you.

Answer: Term life provides affordable coverage for a specific period—typically 10, 20, or 30 years. It’s a great option when the primary goal is protecting income, family, or a mortgage.

IUL (Indexed Universal Life) is permanent life insurance that also builds cash value, with interest-crediting potential linked to a market index (without directly investing in the market). It costs more but can provide lifelong protection and potential access to accumulated cash value.

Neither is inherently better—the right choice depends on client needs, budget, and long-term goals.