Life Insurance FAQs
Is life insurance taxable?
Death benefits are generally income‑tax free for beneficiaries. Interest earned or very large estates can have tax considerations—ask a tax professional.
Do health conditions affect my rate?
Yes. Underwriting considers health history, prescriptions, height/weight, and lifestyle. Managing conditions and choosing the right carrier can lower costs.
How do I name or update beneficiaries?
You can assign primary and contingent beneficiaries and update them anytime. Keep records current after major life events.
What’s the difference between term and whole life insurance?
Term covers a set number of years with lower initial cost. Whole life lasts your entire lifetime, builds cash value, and can offer level premiums.
Is life insurance taxable?
Death benefits are generally income‑tax free for beneficiaries. Interest earned or very large estates can have tax considerations—ask a tax professional.
Do health conditions affect my rate?
Yes. Underwriting considers health history, prescriptions, height/weight, and lifestyle. Managing conditions and choosing the right carrier can lower costs.
