Pete Kelly, Life Insurance Agent
Pete Kelly
Texas Life & Health
Life Insurance Agent Licensed in TX
8+ Years of Experience
Contact Details
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Location
Frisco, TX
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Website
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Pete Can Help With:
About Me
Welcome! I'm Pete, 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.
Q&A with Pete Kelly
Can I get life insurance if I have diabetes or heart disease?
Answer: Yes, there are multiple companies that offer life insurance if you have diabetes. I specialize in helping those clients.
What is final expense insurance and how is it different from regular life insurance?
Answer: Final expense insurance is a specialized, permanent policy designed to cover end-of-life costs like funeral services, burial, and outstanding medical bills. It primarily differs from traditional life insurance through its smaller coverage limits (typically \(\$5,000\) to \(\$50,000\)), simplified or guaranteed approval (often requiring no medical exam), and focus on short-term expenses rather than long-term income replacement.
Is the life insurance I get through work enough to protect my family?
Answer: The life insurance you get through work is a great starting point, but relying solely on it leaves you vulnerable for a few key reasons:
The Coverage Gap: If you have dependents, a mortgage, or other significant debts, the standard 1-2x salary payout will not be enough to replace your income or maintain your family's standard of living long-term.
Not Portable: If you leave your job, get laid off, or retire, your coverage usually vanishes. Your family's financial security should not be tied to your employment status.
Limited Options: Group life insurance policies are one-size-fits-all and usually do not allow you to customize terms or lock in rates based on your age and health at a younger stage
How long does it take to get approved for life insurance?
Answer: Instant or No-Exam Policies: Approval takes 24 hours to a few days (and sometimes minutes) because they use accelerated underwriting without a physical exam.
Traditional Fully Underwritten Policies: Approval takes 4 to 8 weeks on average because insurers must review medical records, driving history, and lab results from a physical exam.
What is guaranteed issue life insurance and who is it designed for?
Answer: Guaranteed issue life insurance is a permanent whole life policy that accepts all eligible applicants within a specific age range without requiring a medical exam or health questions. It features higher costs, lower payouts (usually $2,000 to $25,000), and a 2-to-3-year waiting period for natural death benefits.
Key Features of Coverage:
No medical tests: You skip health exams and medical questionnaires completely. Guaranteed approval: Insurers cannot turn you down based on your medical history.
Higher costs: Monthly premiums cost more per dollar of coverage than traditional policies.
Graded benefits: Death from natural causes during the initial 2-to-3-year waiting period results in a refund of premiums plus interest rather than the full payout.
Capped payouts: Maximum coverage limits generally cap out between $25,000 and $50,000.
Who Is It Designed For? Seniors. Older adults (typically ages 45 to 85) are looking for a safety net.
People with health issues: Individuals with severe or terminal pre-existing conditions who cannot qualify for standard or simplified issue life insurance.
Final expense planners: Those who want a dedicated fund to cover funeral, burial, or remaining end-of-life medical bills.
Is whole life insurance the same as permanent life insurance?
Answer: Whole life insurance is a specific type of permanent life insurance, meaning all whole life policies are permanent, but permanent life insurance also includes other options like universal life.