What type of policy should I buy ?

It depends – Term, Endowment, Universal Life, Whole Life

What should I consider in naming life insurance beneficiaries ?

Naming a beneficiary will simplify the procedure if there is a claim.

Does it make sense to replace a policy ?

This requires careful consideration, as an older existing policy will have been purchased at a younger age and hence at a lower rate.  However, if one’s circumstances have changed requiring cheaper Term insurance vs say cash value cover it may be the thing to do.

What happens if I fail to make the required premium payments?

Your policy will “lapse” or cease to exist if it is no-cash value.

By using medical tests are insurers trying to eliminate any applicant likely to develop a serious health condition ?

Insurer’s rates are based on average mortality, information acquire from the results medical tests help insurers to classify lives and rate or decline high risk cases.

Should I just buy basic life insurance coverage or is it worth considering the “bells and whistles” that some policies offer ?

Buy what you can afford to buy. Most life insurance policies are for the long run.

What types of health insurance  do we offer ?

Major Medical

How much Life Insurance do I need ?

It is not possible to place a general value on one’s life, but an individual’s circumstances will dictate how much cover he or she should have. For example,  a good guide for someone with a family is 5 years annual income, as this has been shown to be the average time it takes dependents to adjust financially to the loss of a bread winner.

Why do you need life insurance ?

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