Question 1

Do I really need life insurance?

Accepted Answer

If others depend on your income or you have shared debts, coverage is generally recommended. You can evaluate your personal needs by considering your income, outstanding debts, mortgage obligations, and the financial future you want to provide for your dependents. Our advisors are happy to walk you through a personalised assessment.

Question 2

How much life insurance coverage do I need?

Accepted Answer

Coverage amounts depend on factors like your income, debts, mortgage, and future financial obligations for dependents. A general rule is 10–12x your annual income, but a personalised analysis by one of our advisors will give you a more accurate figure tailored to your circumstances.

Question 3

What is the difference between Term and Whole Life insurance?

Accepted Answer

Term provides coverage for a specific period (e.g., 10, 20, or 30 years), while Whole Life offers permanent protection and builds cash value over time that can be used during your life. Term is typically more affordable; Whole Life is an investment as well as protection.

Question 4

How do I choose between the different types of life insurance?

Accepted Answer

The right choice depends on your age, financial goals, and budget. Term is ideal for covering specific obligations like a mortgage or children's education. Whole Life suits those seeking lifelong coverage and a wealth-building component. Our advisors provide no-obligation consultations to help you decide.

Question 5

Is life insurance worth the money?

Accepted Answer

For many, it is essential for protecting loved ones' financial stability and replacing lost income. The cost of premiums is typically far less than the financial impact your absence could have on your family. Many clients also find that whole life policies serve as a tax-efficient savings vehicle.

Question 6

How does the 'cash value' of a whole life policy work?

Accepted Answer

Whole life policies accumulate tax-deferred cash value over time. You can borrow against this value, use it to pay premiums, or access it as supplemental retirement income. The cash value grows at a guaranteed rate and may also earn dividends depending on the policy.

Question 7

How much does a life insurance policy cost?

Accepted Answer

Premiums vary based on age, health, coverage amount, and policy type. Younger, healthier individuals typically lock in significantly lower rates. The best time to get covered is now — the longer you wait, the more expensive coverage becomes.

Question 8

What does the life insurance underwriting and exam process look like?

Accepted Answer

Underwriters assess medical and lifestyle history, which typically involves a health questionnaire and sometimes a brief medical exam. The process usually takes 2–6 weeks. We guide you through every step and advocate on your behalf with the insurer.

Question 9

Can I add dependents or make changes to my policy?

Accepted Answer

Yes. Major life events — such as marriage, the birth of a child, divorce, or a significant income change — typically allow for policy adjustments. We recommend reviewing your coverage annually and after any major life change.

Frequently Asked Questions