Frequently Asked Questions

You can renew the policy (at a higher rate), convert to permanent coverage, or let it lapse.

It depends on your age and coverage amount. Many applicants under age 50 with coverage under $100,000 can skip the exam.

Yes, most term policies are convertible to whole life without a medical exam during the conversion period.

Your premiums and coverage remain the same regardless of health changes during the term.

A common rule of thumb is 10–12x your annual income. Consider your mortgage, debts, income replacement needs, and children's education costs when deciding.

Cash value is a savings component that grows over time. You can borrow against it tax-free or surrender the policy for the cash value.

Participating whole life policies may pay dividends annually, which can be taken as cash, used to pay premiums, or left to grow.

Yes, you can take policy loans against the cash value tax-free, or make partial withdrawals.

If there's sufficient cash value, the policy can use it to pay premiums (paid-up option). Otherwise, the policy will lapse.

Yes. The death benefit passes to beneficiaries income tax-free and does not go through probate, making it an efficient wealth transfer tool.

IUL cash value is tied to a market index rather than a fixed rate, offering higher growth potential but also more variability.

IUL policies typically have a floor (0% or 1–2%) so your cash value won't go negative, and your death benefit remains protected.

Yes, IUL offers flexible premiums between a minimum and maximum amount. You can pay more to build cash value or less to fit your budget.

You can borrow against your cash value tax-free, and withdrawals up to your basis are tax-free. Consult a tax professional for details.

Generally people in their 20s to mid-50s who want permanent coverage and plan to use the cash value as a retirement income supplement. It's not a great fit if you need coverage immediately or have a tight budget — the policy needs time and consistent premiums to build meaningful cash value.