Life Insurance

Generally no. When a term policy expires, renewing it typically requires a new application and medical underwriting based on your current age and health, which usually means a higher premium. However, many term policies include a conversion option that allows you to convert to a permanent policy without new medical underwriting before the term ends. I always review this option with my clients before their term expires.

Yes. The cash value in a whole life policy is yours to access. You can take out a policy loan against it, make a partial withdrawal, or in some cases use it to pay premiums. Policy loans do not require credit checks or repayment schedules, though unpaid loan balances with interest will reduce the death benefit. I walk every client through how their specific policy works.

With a fixed annuity, no. Your principal and interest rate are guaranteed regardless of market performance. Fixed annuities are not tied to the stock market, which makes them a popular choice for people who want predictable retirement income without market risk.

A common rule of thumb is 10 to 12 times your annual income, but the right amount depends on your debts, dependents, income replacement needs, and final expense goals. I do a full needs analysis with every client to find the right coverage amount for your specific situation.

For term insurance, the policy lapses and coverage ends. For whole life, you may have options depending on the cash value: you can use the cash value to keep the policy in force, convert to a reduced paid-up policy, or take the cash surrender value. I review these options with clients well in advance.

In most cases, no. Life insurance death benefits are generally received income tax-free by beneficiaries. However, there can be estate tax implications for very large policies. I recommend consulting a tax advisor for complex situations.

Underwriting is the process an insurance company uses to evaluate your health history and risk level before approving your application and setting your premium rate. Some policies require a medical exam, while others use simplified issue or guaranteed issue underwriting with just a few health questions or none at all. I help you find the right product based on your health situation.

Often yes. The options available depend on the condition and its severity. Guaranteed issue policies require no health questions and accept most applicants. Simplified issue policies ask a few basic questions. Fully underwritten policies go through a full health review. I work with multiple carriers and find the best option available for your situation.