Frequently Asked Questions

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The type of life insurance is determined by knowing if you need the coverage for a specific amount of time to protect, for example, your mortgage or any other assets that are being financed along with supplementing the lost of your income. Then TERM Life Insurance is the best option for protecting your family from the financial burden. On the other hand, if you want to make sure the coverage is in place forever and always to protect your family from any final and/or funeral expenses. Then WHOLE Life Insurance, also known as permanent life insurance, is the best option. 

The main purpose of life insurance is to help your loved ones continue to meet their financial needs if you die unexpectedly. This can be calculated by adding the totals of questions 1 - 4 listed below that will give you an idea of the total amount needed to protect your family's standard of living, assets and future events:

***Friendly advise. Use rounded numbers to the nearest 1,000 to make the process easier for you. 

1. How much income should be provided on an annual basis to insure my family maintains the same standard of living? Then times this amount by 10, 20 or the years left until retirement to determent best amount to protect the lost of your annual income. 

2. How much coverage is needed to protect any outstanding mortgage/auto loans and/or debts? 

3. How much insurance is needed to protect my children's college tuition? Keep in mind, would it be an university within the state or a private college located elsewhere. 

4. What amount should be included for final expenses and funeral costs? Do you plan on being cremated? Most people include $10,000 to $25,000 for funerals and final expenses. 

Once calculated, you can use the "Get Quote/Start Application" button located in the upper right of the home page.

Absolutely! At anytime during the application process, we can adjust your policy to make sure it is the best option for your family. Overall, please do not hesitate to reach out if you have any questions or concerns. Call (336) 404-9311 or Email jason.snead@sneadinsurance.com