Frequently Asked Questions
Why do I need life insurance?
Life insurance can replace your income and ensure that your family's financial needs are met even after you're gone. A policy may be necessary to pay off outstanding debts, such as mortgages, student loans, credit card debts, and medical expenses after passing. A good life insurance policy may also offset childcare expenses and provide for your children's education.
At what age should I apply for life insurance?
Most people benefit from life insurance when they have financial dependents or significant financial obligations. But that doesn’t mean you don’t need it if you don’t have a family. Ideally, applying for life insurance as a young and healthy individual will allow you to lock in a policy while premiums are lower. We encourage you to speak to an insurance agent before you get married, have kids, or buy a home.
How do I compare different life insurance policies?
Deciding on a life insurance policy for the first time can feel overwhelming, but you don’t need to do it alone. Our life insurance agents at WFG are here to help. Our licensed insurance agents are well-versed in many aspects of life insurance. They are happy to review the types of life insurance policies and the appropriate coverage amount based on your budget.
Which type of life insurance is best for me?
Term life insurance and whole life insurance each serve a different purpose. Term life insurance provides coverage for a specified term, such as 10, 20, or 30 years and offers higher coverage amounts for a lower premium compared to whole life insurance. Whole life insurance provides lifelong coverage for as long as premiums are paid. Consider your budget, preferred coverage duration, and investment goals before deciding.