Frequently Asked Questions

We are not here to replace the members of your “financial team,” we’re here to work with them in order to help best serve you! While many Financial Planners and/or Investment Advisor’s will focus on a broad scope of important financial strategies and products, our experience and specialization is specific to ONLY the Life and Long Term Care Insurance industries. This focus ensures that we remain industry experts on the latest products and strategies that can best compliment your financial road map.

As an independent insurance agency, we have the luxury of working with many of the best insurance carriers in the nation. We choose our companies based on a strict criteria, including: financial strength (A- or better), product breadth, and pricing.

Please feel free to contact us with any questions about the companies we use.

Most carriers have similar, if not the same rules when it comes to accepted payment methods for premium payments on your insurance policy.

If you choose to pay your premium’s monthly, you will likely be required to setup an automatic draft from your Checking or Savings account.

If you choose to pay quarterly, semi-annually, or annually, you may still make your premium payment manually (by check or 1 time ACH transfer).

We find that the majority of applicants choose to setup automatic payments on their life insurance policies, primarily to avoid an unintentional lapse in coverage. We highly recommend considering this option!

It’s important to note that the payment option you choose will impact your premium cost. Paying your premiums annually will be less expensive than paying monthly.

Most insurance companies use the same general approach to determining how much of a term death benefit can be paid out to the Owner. For example, with Transamerica’s Trendsetter® LB product, the factors that are taken into account for chronic, critical and terminal illness benefits when determining the payout amount are:

• The amount of the policy face amount accelerated and the future premiums that would be due. • The Company’s assessment of the life expectancy of the insured, which is based on age and overall medical condition at time of claim. • Accelerated benefit interest rate in effect (used to determine the present value of future benefits and premiums). • Any administrative fees assessed.

• The death benefit is reduced based on the factors above to arrive at the final payout amount. Therefore, the more severe/life threatening an insured’s condition, the shorter his or her life expectancy and the more benefit the policy owner will receive.