F.A.Q

Life insurance is a financial contract between you and an insurance company. You pay regular premiums, and in return the insurer pays a death benefit to your beneficiaries if you pass away while the policy is active. The money can help replace income, pay debts, cover funeral costs, or protect your family’s financial future.
You might need life insurance if:
  • Someone depends on your income
  • You have debts like a mortgage
  • You want to leave a financial legacy
  • You want to cover final expenses
  • Most people buy life insurance to protect loved ones financially if they die unexpectedly. 
There’s no one-size-fits-all answer, but a common guideline is to cover:
  • Your yearly income × 10–15
  • Outstanding debts (e.g., mortgage)
  • Future expenses (college tuition, living costs)
  • Life Insured By Chris can help you calculate the exact amount based on your financial situation.
The two primary types are:
  • Term Life Insurance: Covers you for a set period (e.g., 10, 20, 30 years) and is usually more affordable.
  • Permanent Life Insurance: Covers you for life and may build cash value that grows over time.
Even if you’re healthy and young, buying life insurance sooner can:
  • Give you lower premiums
  • Lock in coverage before health issues develop
  • Young, healthy buyers often get the best rates. 
Not always. Many traditional policies require a medical exam, but there are also:
  • Simplified Issue Policies (no medical exam, but health questions)
  • Guaranteed Issue Policies (no exam and no health questions usually higher premiums)
  • Not requiring an exam can mean paying more, but it’s easier to qualify. 
Yes. You can hold multiple life insurance policies at the same time to meet different needs for example:
  • One policy for income replacement
  • Another to cover your mortgage
  • Just make sure the total coverage aligns with what you actually need.
A beneficiary can be:
  • A spouse or partner
  • Children
  • Trusts or charitable organizations
  • You can also name multiple beneficiaries and specify how the benefit is shared between them. 
Most policies have a grace period (usually about 30 days) during which you can pay your premium without losing coverage. If you still don’t pay, the policy may lapse but some types of permanent insurance let you use cash value to make up payments. Terms vary by company. 
Yes. Most life insurance policies will still pay a death benefit if you die abroad, but you should check your policy’s exclusions or limitations. Some policies may have specific provisions for high-risk travel or activities.
Premiums are based on factors like:
  • Age
  • Health & medical history
  • Gender
  • Tobacco use
  • Policy type and coverage amount
  • Healthy applicants generally receive lower rates. 
Many life insurance policies allow changes such as:
  • Increasing coverage through riders
  • Converting a term policy to permanent coverage
  • Options depend on the policy you buy and the insurer. 
Term Life Insurance:
  • Temporary coverage
  • Typically more affordable
Whole Life Insurance:
  • Lifetime protection
  • Builds cash value you can borrow against
  • Permanent policies may be more expensive, but offer lifelong protection and financial flexibility.
  • Claim denial
  • Policy cancellation
  • Honesty is important misstatements can affect your coverage, especially during the “contestability period" (usually the first 2-3 years).
An incontestability clause prevents an insurer from cancelling your policy for misstatements after a set period typically 2–3 years unless fraud is proven. This protects policyholders and beneficiaries from later claim denials over minor errors.