Edward Fisher, Life Insurance Broker
Edward Fisher
The Fisher Agency
Life Insurance Broker Licensed in MI
16+ Years of Experience
Contact Details
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Location
Birmingham, MI
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Website
About Me
Hi, I'm Edward, your area life insurance advisor. I focus on simplifying the process of choosing a policy that protects your loved ones. You don’t have to figure it out alone — I’ll compare the best options and walk you through every step of the journey.
Q&A with Edward Fisher
Do I need life insurance if I'm retired and my mortgage is paid off?
Answer: Not enough information to really answer the question. Do you have other debts or liabilities? If so, you might need life insurance. Do you have a spouse or family? Will your assets be enough to support them after you’re gone? If not , you probably need life insurance. Lots to consider. A good agent will help you think it through.
Can creditors take life insurance money from beneficiaries?
Answer: While almost always life insurance is tax-free to the beneficiary, it is not safe from creditors. There is very little protection for life insurance proceeds once it reaches the beneficiary.
How much does life insurance cost for a 60 year old?
Answer: Who knows? Without more information, the question can't be answered. Premiums are based on age, health factors, occupation, lifestyle and so on.
Plus, each insurance company has its own criteria for underwriting or evaluating the risk. For example: insurers vary in how they rate various health factors, such as diabetes or family medical history.
Recommendation: work with an agent that can look at a range of insurance companies to find the best coverage at the best rate for your individual situation.
What is group life insurance and how does it work?
Answer: Group life insurance is generally a policy provided by an employer. Usually there is little or no underwriting required to get coverage. As long as the employer pays the premium and you stay employed at that firm, you have coverage.
Important to remember: If you leave that company, the coverage almost always stops. Some policies have a conversion option, but not many. Also, many people think they don't need life insurance because they have it through their job. Be careful here. The benefit from employer-based insurance is most likely not enough to meet your family's actual needs.
Ask an agent to help.