Ken Banks, Life Insurance Agent
Ken Banks
The Alford-Banks Group
Life Insurance Agent Licensed in GA
Contact Details
-
Location
Atlanta, GA
-
Website
Ken Can Help With:
About Me
Hey there, my name is Ken, and I am here to make life insurance simple. Choosing coverage can feel overwhelming, but I do the heavy lifting by comparing trusted providers on your behalf. Together, we'll find the protection your loved ones deserve — at no cost to you.
Q&A with Ken Banks
What happens if you lie on a life insurance application?
Answer: They have 2 years to caught it! If not the policy could hold up years later. Best advice: Don't lie.
What is the most common mistake people make when buying life insurance?
Answer: Thinking they have the lowest price because their old agent said so years ago. Best to shop around if your healthy enough to do so.
Can I change my life insurance policy after I buy it?
Answer: Yes. Long as your health didn't change you can change anything you get ready. Or update for more coverage.
Can I buy life insurance for my parents?
Answer: Yes. Long as you have permission from them and have them sign application as well. Otherwise it's unethical.
Is whole life insurance better than term life insurance?
Answer: Term life insurance is better for most people because it is straightforward and significantly cheaper, often costing 5 to 21 times less than whole life insurance for the exact same payout amount. Neither policy is universally superior, as they serve different financial needs. Term life covers you for a specific period (like 10, 20, or 30 years) to protect temporary needs like a mortgage or raising children. Whole life insurance provides permanent, lifelong coverage and includes a built-in savings component known as cash value, but it requires a much higher monthly budget.
Can you convert a term life insurance policy to permanent coverage?
Answer: Yes, you can convert a term life insurance policy to permanent coverage, provided your policy contains a "conversion privilege" or you purchased a convertible term rider. This allows you to upgrade your temporary protection into a lifelong policy, such as whole life or universal life, without losing coverage.
How quickly can a beneficiary receive the payout after a death?
Answer: Beneficiaries typically receive a life insurance payout within 14 to 60 days after filing a completed claim with the insurer. In highly straightforward cases where the paperwork is submitted electronically, some insurance companies can issue payouts in as little as 3 to 10 business days. The clock does not start at the date of death, but rather on the date the insurance company receives all necessary, completed documentation.
What should someone with a pre-existing condition know about getting life insurance?
Answer: Getting life insurance with a pre-existing condition is possible, but you should expect to pay higher premiums and may need to explore alternative policy types. Insurers evaluate how recently you were diagnosed, the severity of the condition, and how well it is currently managed.
Can I get life insurance if I have a DUI on my record?
Answer: Yes, depends on how recent it was and if you are currently abusing alcohol. Depends on the company company every company have different requirements.
How do I choose the right type of life insurance for my situation?
Answer: Contact me now, and we can discuss the various options! Every situation is different, so we'll have to do a deep dive to be certain for you.