A quick guide to key life insurance questions—so you can compare options and choose what fits your goals and budget.
1. Can I own more than one policy?
Yes. It’s common to layer a term policy for income protection with a smaller permanent policy for lifelong needs.
2. How are premiums determined?
Age, health, tobacco use, coverage amount, and policy length/type all affect price. Generally, younger and healthier applicants pay less.
3. What is life insurance?
It’s a contract where you pay premiums and the insurer pays a lump‑sum benefit to your beneficiaries if you pass away while the policy is active. The benefit can help with funeral costs, debts, mortgage payments, and day‑to‑day expenses.
4. How do I choose a beneficiary (and update them)?
Name primary and contingent beneficiaries and review them after major life events—marriage, divorce, or the birth of a child.
5. What are the main types of life insurance?
Term life covers you for a set period (10–30 years) at a lower cost. Permanent life (Whole or Universal) lasts your entire lifetime and can build cash value.
6. How fast can I get coverage?
Accelerated underwriting can approve some applicants the same day. Traditional underwriting may take 1–2 weeks depending on your health profile.
7. How much coverage do I need?
Many Pocatello families target 10–15× annual income, then adjust for mortgage balance, debts, savings, and college or childcare costs.
8. Do I need a medical exam?
Some policies require an exam to qualify for lower rates. Others offer no‑exam or simplified issue coverage with different eligibility and pricing.
Still have questions? Connect with a licensed local professional for clear, no‑pressure guidance and quotes.