Chris Greenwood, Life Insurance Agent
Chris Greenwood
Northwestern Mutual
Life Insurance Agent Licensed in VA, CA, FL, GA, IL, MD, ME, NC, NY, OK and SC
3+ Years of Experience
Contact Details
-
Location
Virginia Beach, VA
-
Website
-
LinkedIn
-
Facebook
-
Instagram
Chris Can Help With:
About Me
As a former pastor turned planner, I take seriously the opportunity I have been given to help bring hope, joy, and peace into people’s financial future. I left sanctuaries and stages so I could be found in zoom rooms and conference rooms to do what I love best: spend time with people. I know from personal experience what it is like to walk with people. I have felt what it's like to be uncertain, fearful, anxious, and worried about finances, and I'm here to walk with you through those emotions and help navigate the financial unknowns. If you're tired of walking alone, I'm here and honored to help.
Directions to My Office
Q&A with Chris Greenwood
How does borrowing against a life insurance policy work?
Answer: The fine details are different depending on what company your policy is with. With that said, the best analogy is to think of it like equity in a home. With a highly rated, mutual company, a whole life policy builds meaningful cash value (i.e. equity in a home). Much like it takes time to build that home equity, cash value doesn't appear overnight, but given time it will grow and be a meaningful life-long asset and resource. I would be happy to sit down or zoom with you to show you how it can build and become a meaningful tool throughout your life and into retirement.
Is life insurance worth the cost?
Answer: Is dying without it worth the cost?
My response question is a serious one as I am assuming your initial one is as well. There is simply no better way to care for your loved ones and pass on generational wealth at the same time and in a tax advantaged way than with life insurance through a well-respected, high-quality company. I don't believe anyone wants to leave their loved ones launching a go fund me account to pay for their final expenses, so yes, life insurance is worth the coast because dying without it, isn't.
Also, no one should assume they can just get life insurance when they want to do so. It's a selective product and you can be disqualified from getting it, so the younger the better.
Lastly, cost itself is relative. There are tons of ways to build a life insurance policy and work within a budget.
What is a life insurance rider and which ones are actually worth adding?
Answer: Riders or benefits are extra features you can add to a policy. Different companies offer different ones. Some are worth it and some are not. It really takes working with an honest planner to work through the details.
Can life insurance help pay for long-term care or nursing home costs?
Answer: Absolutely. The policy just has to have the right benefit/rider associated with it, but they definitely can. With that said, not all long-term care benefits/riders are created equal. It's important to go with a great company to get a great benefit/rider.
Can I change my life insurance policy after I buy it?
Answer: Depends on what you mean by change.
Change the death benefit? Typically... up? no. down? yes.
Change the type? With some companies? yes.
Change the monthly premium? possibly down
Change it into something else? An annuity? Maybe yes. Another type of life ins? Maybe yes. Into investments? no.
All depends on what you mean by change.
At what age should someone start thinking about life insurance?
Answer: As young as possible. It's cheaper and the health qualification barriers are as few and minor as they will ever be for your entire life. You never want to be in a position where you now want to get it but can't.
How much of my monthly income should go toward life insurance premiums?
Answer: 5% is a good benchmark for what you should be putting into a meaningful and growing whole life policy. Term is more like an essential bill so the right amount for the cheapest price is the goal.