Michael Andrews, Life Insurance Agent
Michael Andrews
MediMike Insurance
Life Insurance Agent Licensed in CT
Contact Details
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Location
Wethersfield, CT
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Website
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About Me
Hi! My name is Michael, and I am your dedicated life insurance consultant. My role is to ensure you have coverage in place that truly fits your goals. I partner with respected insurers to provide you with reliable and affordable options — all at no cost to you.
Q&A with Michael Andrews
What questions should a first-time life insurance buyer ask their agent?
Answer: I would ask them what their personal philosophy on life insurance is in general? I would ask what would I need for my needs
What is the most common mistake people make when buying life insurance?
Answer: They buy too little insurance based off of their family needs especially when you are a 1 income household
What happens if you don't name a beneficiary on your life insurance policy?
Answer: In short, it would go to your estate and your loved ones would have to get it sorted through probate.
What are the payout options for a life insurance death benefit?
Answer: Usually, a 1-time lump sum amount but you can also set up monthly payments based on the beneficiaries lifespan.
How does life insurance work for a family with a special needs child?
Answer: If the child is named as the beneficiary, that payout can knock them off SSI or Medicaid instantly. The right move is to have the death benefit go into a Special Needs Trust instead. That way, the money is protected, benefits stay intact, and a trustee can use the funds for your child’s care and quality of life for the long haul. Most families pair term coverage for income replacement with permanent or survivorship coverage to make sure the trust is funded no matter what.
Is whole life insurance the same as permanent life insurance?
Answer: Whole life insurance is a type of permanent life insurance. When you hear term insurance, it is only active for a specified number of years and usually needed with a growing family along with the time in your life you tend to have more financial responsibilities.
Is it better to buy life insurance online or through an agent?
Answer: It depends on how complicated your circumstance is but usually it is more optimal to discuss with a trusted agent so that you understand all the options related to your specific situation.
What is indexed universal life insurance and how does it compare to traditional investments?
Answer: It is permanent life insurance that builds cash value based on the performance of a market index like the S&P 500, but without actually risking your money in the market. It offers tax‑deferred growth and downside protection, but the gains are limited by caps. It can be useful for long‑term, tax‑efficient accumulation when properly overfunded, but it’s not designed to replace pure market investments or maximize growth as well as legacy planning for grandchildren.