Kris Moen, Life Insurance Agent
Kris Moen
Nodak Insurance
Life Insurance Agent Licensed in ND
9+ Years of Experience
Contact Details
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Location
Grand Forks, ND
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Website
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Facebook
Kris Can Help With:
About Me
Welcome! I'm Kris, a local life insurance specialist who understands the importance of protecting what matters most. From growing families to individuals planning ahead, I help people at every stage of life choose coverage with confidence.
Directions to My Office
Q&A with Kris Moen
What is the most common mistake people make when buying life insurance?
Answer: One of the biggest mistakes people make with life insurance is waiting too long to buy it.
People tend to think:
“I’m healthy now.”
“I’ll do it after harvest.”
“Once the kids are older.”
“After I lose some weight.”
“When business settles down.”
But life insurance gets more expensive with age, and health changes can happen fast. Sometimes it’s not even a major diagnosis — it can be blood pressure meds, sleep apnea, diabetes, or a heart issue that suddenly changes pricing or insurability altogether.
The second big mistake is buying based only on price instead of purpose.
A lot of people shop life insurance like auto insurance:
“What’s the cheapest monthly premium?”
But the real question should be:
“What problem am I trying to solve if I die too soon?”
What questions should a first-time life insurance buyer ask their agent?
Answer: One of the biggest mistakes first-time life insurance buyers make is focusing only on the monthly price instead of understanding what the policy is actually designed to do.
A few important questions to ask your agent:
How much coverage do I really need?
What’s the difference between term and permanent life insurance?
What happens if my health changes later?
Can this policy be adjusted as my life changes?
What riders or extra benefits should I consider?
Life insurance isn’t just about finding the cheapest option — it’s about protecting your family, income, business, or future goals the right way.
How much life insurance does the average family actually need?
Answer: There’s no perfect “one-size-fits-all” number, but most families need more life insurance than they think.
A common rule of thumb is:
10–15x annual income
PLUS
enough to pay off major debts like a mortgage, loans, or final expenses
For example:
A family with a $75,000 household income and a mortgage may realistically need $750,000–$1,250,000 of coverage to properly protect their family.
The real goal of life insurance is to give your family time and financial stability if something unexpected happens — not just cover funeral costs.
Things that affect how much coverage someone may need:
Income replacement
Mortgage balance
Children and future education costs
Existing debts
Stay-at-home spouse contributions
Farm or business obligations
Future retirement needs
The best life insurance plan is one built around your family’s actual situation — not just a random number online.
Should a stay-at-home parent have life insurance?
Answer: Absolutely. A stay-at-home parent often provides thousands of dollars worth of unpaid support to a family every month.
If something happened to them, the surviving spouse may suddenly need help paying for:
Childcare
Transportation
Housekeeping
Meals
After-school care
Time away from work
Life insurance for a stay-at-home parent isn’t about replacing a paycheck — it’s about replacing the value of everything they do for the family.
Many families underestimate how financially difficult that transition could be.
Even a modest life insurance policy can help provide stability during an already difficult time.
What is key person life insurance and does my business need it?
Answer: Key person life insurance is coverage a business purchases on an owner, partner, or employee whose loss would seriously impact the company.
The business typically:
owns the policy
pays the premiums
is the beneficiary
If that key person passes away, the death benefit can help the business:
cover lost revenue
hire and train a replacement
pay off business debts
reassure lenders
keep operations running during a difficult transition
Businesses that often consider key person coverage:
Small businesses with one primary producer or rainmaker
Farms with one main operator
Partnerships
Medical practices
Businesses heavily tied to one person’s relationships or expertise
A simple question to ask is:
“Would the business struggle financially if this person were suddenly gone?”
If the answer is yes, key person life insurance is probably worth discussing.
What happens to your life insurance policy in a divorce?
Answer: Divorce can have a major impact on life insurance, and many people forget to update their policies afterward.
A few things to know:
Your ex-spouse may still be listed as the beneficiary if you never change it
Some divorce agreements require life insurance to stay in place for child support or alimony obligations
Ownership of certain policies may need to be transferred as part of the settlement
Cash value life insurance can sometimes be considered a marital asset
One of the biggest mistakes people make after a divorce is assuming everything updates automatically — it doesn’t.
After a divorce, it’s smart to review:
Beneficiaries
Policy ownership
Coverage amounts
Trusts or contingent beneficiaries
Any court-ordered insurance requirements
A quick policy review after major life changes can prevent a lot of problems later.