Below you will find many answers to commonly asked questions about life insurance:

How should I determine the amount of Life Insurance I need?
What about my FREE quote?
When does my Life Insurance coverage begin?  
What about coverage for my spouse and/or children?
What determines if I will be rated preferred or standard rates?
What if I smoke or use other forms of tobacco?
How can I protect my Life Insurance coverage if I'm disabled?
Can my policy be cancelled if I get sick?

How should I determine the amount of Life Insurance I need?

Many experts recommend that you purchase 5-10 times your current annual income. This is an old rule of thumb that does not take into consideration current assets and any special needs you and your family may have. You may want to start by determining the amount of income that you would like to replace and the number of years you need to replace this income. In addition, you may want to consider funding future expenses such as college education, retirement, and any special needs a child or family member may have. Unfortuanately no one can waive a magic wand to determine how much protection you will need. Only you can determine what you would want your family to have. For this reason, and because life insurance is very affordable when purchased intelligently, many families choose to carry generous amounts.
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What about my FREE quote?

Here Lymneos Insurance we can give you a free quote. It's as simple as that. There's never a charge to see how much money you can save and you don't have to pay for your policy untill you've been approved and get your policy back in the mail and are completely satisfied.
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When does my Life Insurance coverage begin?  

Most companies provide temporary and conditional coverage at the completion of the medical exam provided a premium payment is made when the application is mailed. This coverage is subject to the conditions outlined in the conditional receipt. If you are replacing an existing policy, it is very important to continue coverage until a new policy is approved at a satisfactory premium.
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What about coverage for my spouse and/or children?

You may want to consider having coverage on your spouse even if they are not currently employed. The financial pressure on a family due to the premature death of a spouse can be significant. It may be necessary to deal with various family issues that occur after the loss of a spouse. Often the spouse will take time off or make other necessary career adjustments to spend more time with their children.

Insurance coverage for children is available to cover final expenses and also can be provided to guarantee insurability for the childÕs future.
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What determines if I will be rated preferred or standard rates?

In order to receive preferred rates, you must be in excellent overall health and lead a healthy lifestyle. Each company determines limits on weight to height, cholesterol, blood pressure, and you must not have any significant personal health issues. Family health history is also a factor used in qualifying for a low preferred rate. You cannot use tobacco of any type. You must not have a history of alcohol abuse or drug use. You may not be involved in hazardous activities.
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What if I smoke or use other forms of tobacco?

Smoker rates are higher than for non-smokers. In order to qualify for non-smoker rates, most companies ask that you to be a non-smoker for at least one year. Some companies will even offer a special rate to healthy smokers who hope to stop smoking within one to four years. The individual agrees to requalification at the end of the period to maintain these low rates.

In many cases companies look at other tobacco (cigars, pipes, chewing tobacco) users much like smokers. However, several companies allow pipe, cigar, and chewers to qualify as non-smokers.
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How can I protect my Life Insurance coverage if I'm disabled?

A rider called "waiver of premium" will provide payment for premiums after six months of a disability. Payments for insurance premiums will continue as long as your disabled or as stated in the terms of the policy. This rider is available for purchase from most companies up until age 55. Coverage usually ends at age 60.
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Can my policy be cancelled if I get sick?

No. Once a policy is issued, it cannot be canceled by the insurance company during the policy period for any reason including changes in health, providing the required premium payments are made and information on the application was not misleading or inaccurate. You will not be asked to provide evidence of insurability during the period of the policy. As a policy holder you may choose to stop paying premiums at anytime.
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