Clifford Moss, Life Insurance Agent

Answer: This means you can not be declined. It is usually for people with conditions that would otherwise not allow them to be insurable. These are usually graded policies and cost more than say a whole life or Universal life policy.

Answer: Here are three good ones to start with: What type of insurance is the policy. Will the premiums ever increase. How do I update my beneficiaries.

Answer: If you lie on the application and it is determined through records that you lied they will deny you coverage. Also usually there is a two year contestable period so if you pass within the first two years they will not pay out the death benefit if they determine you lied on the application.

Answer: Depends on the company and your agent should go over that with you when they deliver your policy. Typically it is the first 30 days.

Answer: It usually is included as part of your life insurance policy. It is an additional payment (usually doubles the death benefit) should you die in a accident or have a loss of body parts.

Answer: Both have their purpose if you are younger and need to cover larger costs list a mortage or student loans or have young children then a Term Policy will provide that cheap. Term policies usually stay level for premium for 10 to 20 years and then increase. Whole life is just that it will be ther your whole life. No change in premium or death benefit.

There are some policies that will provide a Term Rider that you can add and then turn off at a certain age. I do this for clients looking for a larger death benefit but not an extreme monthly premium.

Answer: They are usually 10 or 20 years. Sometimes they go to a certain age, like 90. The longer the better depending on your age.

Answer: It will eventually end depending on the type of policy. Some have a paid up feature that allows them to have a small death benefit without any additional premiums. This would be in your policy documentation or ask your agent.

Clifford Roger Moss, Insurance Agent

Answer: Yes, you can change your beneficiary on a life insurance policy at any time. Most companies have a specific form for this.

Clifford Roger Moss, Bankers Life

Answer: There usually is no difference. However, it could be final expense insurance if the beneficiary is a funeral home where the check is going directly to them, not a loved one to pay for your final expenses.

Hope this helps,

Clifford Roger Moss, Agent

Contact me.

Answer: Simplified Issue means there is usually no underwriting at the time the policy is issued but the policy would be contested within two or three years should the person die.

Guaranteed issue means no matter what your health is, the policy would be issued; you can't be denied for any reason.

Clifford Roger Moss, Agent

Contact me.

Answer: Too many factors to answer. Depends on Age, Gender, Health and type of policy you are looking to get.

Clifford Roger Moss, Agent

Contact me.

Answer: At the time the policy is written beneficiary address, phone and email are usually taken. When someone dies the company would reach out to the information on file. This is why it is important to review and update beneficiaries every several years to make sure the information is current.

Clifford Roger Moss, Agent

Contact me.

Answer: A term policy is good for a certain length of time usually 10 or 20 years that the premium is set and will not change and the death benefit will not change. Once that period comes the policy will be annually renewable at higher premiums and or lower death benefits. These pay put less than 2% of the time.

Clifford Roger Moss, Agent

Contact me.

Answer: Yes it depends on the type of policy and the pre-existing conditions. A guarantee issue policy will be issued regardless of any conditions.

Clifford Roger Moss, Agent

Contact me.

Answer: It can. Depends on the type of policy, the length of time you have had the policy, and whether there is cash value in the policy. Medicaid usually wants to be paid back....

Clifford Roger Moss, Agent

Contact me.