Shane Bullock, Life Insurance Broker
Shane Bullock
Secure Horizon Benefits
Life Insurance Broker Licensed in UT, AZ, FL, ID, KS, MO, MT, NV, OH, TX, WA and WY
6+ Years of Experience
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St. George, UT
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About Me
Hi! I'm Shane, a life insurance professional committed to serving our community. I take the time to understand your unique situation and connect you with coverage that provides long-term security. Let’s work together to build your peace of mind for the future.
Q&A with Shane Bullock
What is the most common mistake people make when buying life insurance?
Answer: The most common mistake people make is not knowing how much coverage they really need or why. There is no one-size-fits-all approach to life insurance. This is why working with a good agent is so important. A good agent will look at your entire financial situation to make recommendations about coverage.
What questions should a first-time life insurance buyer ask their agent?
Answer: Ask them about their process. A good agent will be able to speak about how they determine need and why they pick certain plans over others.
Can I sell my life insurance policy for cash?
Answer: The short answer is yes. There are ways to accomplish this, but you should work with an agent who specializes in this type of transaction as there are many factors that should be considered.
How do I evaluate a life insurance company's long-term financial stability?
Answer: The best way to evaluate a life insurance company's long-term financial stability is to look at ratings from independent agencies. These agencies hire their own analysts to rate insurance companies' ability to pay claims.
The key agencies are: A.M. Best, Standard & Poor's (S&P), Moody's, and Fitch Ratings.
What to Look For: Look for companies with high ratings (typically "A" or higher). Specifically, look for "A+" or "A++" from A.M. Best, which specializes in the insurance sector.
Trend Matters: Don't just look at the current rating; check if the outlook is "Stable," "Positive," or "Negative." A stable rating on a company with a history of solid performance is often more reassuring than a recent upgrade following years of decline.
Is life insurance available for people over 75 or 80?
Answer: Yes! Term life insurance options become more limited as we get older. However, there are still many permanent life options available to folks in this age range. There are even plans that are guaranteed issue, meaning that you will get the coverage regardless of your health. What is available varies from state to state, so work with a good agent licensed in your state.
How much life insurance does the average family actually need?
Answer: How much life insurance a family needs will be depend on their individual situation. Our needs naturally change as our lives change. For example, what is good for new parents or new homeowners will likely be different from what their family needs when their children are older or if their liabilities are mostly paid off. Every dollar you pay in premium should be intentionally solving a specific need and you should work with a component agent to put those dollars to work for you.
Does life insurance cover suicide or accidental death?
Answer: This is a very sensitive subject, so I'll try to be as clear as I can be. Suicide is typically treated differently than an accidental death. Most policies will have a suicide clause, which is a period of time (1-3 years in most cases) that they will not pay if the insured dies by suicide.
Accidental death, on the other hand, is a great example of why we purchase life insurance. Usually, this would be covered immediately after the policy's effective date as long as there is nothing about the application or death that is contestable (e.g. if someone misrepresented something on their application that would have affected the application). If the accidental death occurs after the contestability period (usually 2 years) after the plan is in effect, then the policy usually cannot be contested. There are still exceptions that will vary from plan to plan (e.g. an accidental death that occur while committing a crime or during war, etc.).
Every state and plan can vary, so work with an agent to help guide you through these nuanced questions.
What is the two-year contestability period in life insurance?
Answer: The first two years from the policy's effective date is known as the contestability period. During this period, the insurance company has the right to review and potentially deny a claim if it finds something that would have affected the coverage was either left off of the original application or the information on the application was inaccurate.
Can I get life insurance if I smoke or vape?
Answer: By themselves, smoking and/or vaping tobacco or marijuana products won't disqualify someone from purchasing life insurance. However, the impact on premiums differs significantly between the two.
For tobacco and nicotine products (including e-cigarettes and nicotine vaping), almost all insurers classify users at increased risk and charge higher premiums—often roughly double the non-smoker rate. To access lower non-smoker rates, most insurance companies require complete tobacco and nicotine abstinence for at least 12 consecutive months before applying, though a few insurers may require 3–5 years for their best pricing.
For marijuana and THC products, insurers generally do not apply smoker rates. Instead, premiums are typically tiered by usage frequency: occasional users (1–2 times per year) can often qualify for standard or even Preferred non-smoker rates, while daily users may face higher premiums—though still typically lower than tobacco smoker rates.
What is the DIME method for life insurance?
Answer: The DIME method is a simple way to estimate how much life insurance coverage you might need. It breaks down your financial obligations into four categories: Debt, Income, Mortgage, and Education (and Everything else). The formula looks like this: Death Benefit = Debt + (Income × Years) + Mortgage + Education/Other
Here's what these terms mean:
Debt = Total of all personal debts (credit cards, car loans, personal loans, other short-term liabilities)
Income = Annual after-tax income × number of years your family would need support (often 5-10 years, depending on dependents' ages and spouse's earning ability)
Mortgage = Outstanding balance on your primary residence
Education/Everything else = Projected costs for children's college, private school, or other long-term expenses (elder-care, special-needs support, funeral costs)