Frequently Asked Questions

Term Life Insurance, also set up for "Mortgage Protection", provides coverage for a specific amount of time to protect your family with options including 10, 15, 20, 25, 30, and 40 years.

Term Life is set up to coincide and give your family the protection needed until the mortgage is paid, kids are no longer financially dependent, or until retirement. 

Whole Life Insurance, referred to as "Permanent" or 

"Final Expense" Life Insurance. Is set up to take the financial burden off a spouse or family member from having to pay for a funeral, burial cost and final expenses. Whole Life, is also a brilliant tool to pass generational wealth, with tax free inheritance and bypassing probate. Another great option is to protect insurability for a child or grandchild while securing a rate that will never be available again. 

With many payment options to choose from, you can pay for the policy completely with a predetermined payment period of your choice. Pay until age 65, 10 years, 20 years or single premium and know the coverage will be there for your family.

With Participating Whole Life, unlike Term Insurance, it has an added feature of building Cash Value with dividends. Where a portion of each premium payment is added to the Cash Value. This component allows your money to grow within the policy with a fixed interest rate. 

Great News! Unlike most life insurance companies, with Snead Life, you will have more of an opportunity to transfer some or all of your Term Life to Whole Life Insurance automatically when you are ready. You will have until the end of the Term Life policy or before age 70. Whichever comes first. No medical underwriting or medical exam required. 

To calculate the amount needed to make sure your family has adequate coverage. 

Add up the answers to questions 1 through 4 listed below. 

This will give the amount of coverage needed to protect your family's standard of living. Including your home, loss of income, and future milestones. (college tuition/weddings/retirement). 

*Please keep in mind at any point, feel free to reach out to one of our experts to help you customize a policy that protects your family and is within your budget. 

**Friendly Advice: Round to the nearest 1,000th to make it easier. 

1. What is your total yearly income that would no longer be provided for your family? 

Multiply this amount by the years left until the mortgage will be paid off, the children will be out of college, or retirement. Most people, multiply by 10, 20 or 30. 

2. What is the total amount of any outstanding mortgages, auto loans, and debt? 

3. How much insurance is needed to protect your children's college tuition, daughter's wedding or spouse's retirement? Keep in mind with college tuition, 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 $1,000, $10,000 or $25,000.

***This calculation should be done for each spouse. In some cases, people believe the amount of insurance needed is too much. Just keep in mind, these figures do not include any rate of inflation. Also, we want to help you find the correct amount of coverage. We never want to set up a policy that is outside your budget and will cause a problem. Overall, it is your family's policy, just make sure that you don't end up looking back and wished you had set up more coverage. 

For any assistance, call (866) 456-3312 or email us at clientfirstsevices@sneadinsurance.com. You can also start the process, when you go to the home page for a quote. If you are 50 or under and want 1,000,000 or less in coverage. No medical exam is required. 

Absolutely! Snead Life will help you adjust the coverage during the application process or the "free look" period after the policy is issued. This allows time to make sure everything is set up in your best interest. To start a quote or the application process for your family's coverage. Just go to the "Term Life Quote" or "Whole Life Quote"  located on the home page. Once a quote is completed, you will have an opportunity to proceed to the application. 

You already know why, and probably decided some time ago that you need coverage set up. You want to continue to love and provide for your family when you are no longer able. 

It is ironic, that someone will not go one day without having a new home or vehicle insured in case something happens. Yet, they will wait too long before getting the Life Insurance their family deserves. 

With Life Insurance, being one of the last tax free investments that gets paid directly to the family members of your choice. Let Snead Life, assist you in finding the correct type and amount of coverage for your family. 

Take care of the financial burden for when your gone. Do what is right for your family. Let's get this started today. 

Call (866) 456-3312 or email us clientfirstservices@sneadinurance.com