Fond du Lac Life Insurance Questions 6/4/2014

Today’s post will describe some different Fond du Lac life insurance questions we’ve received in the past week. These turned out to be some pretty common life insurance questions, so I hope this Q&A section benefits you.

Question 1: I qualified for the standard life program. Can I attempt to requalify for their preferred program, which features lower premiums?

Answer: Yes. You may submit to a reexamine upon renewal. A great reason to do this is if you recently gave up smoking and all tobacco usage. With most companies, if you are smoke free for 2 years, you can move to a much less expensive program.

Question 2: What’s a contingent beneficiary?

Answer: Your primary beneficiary is the person who receives your life insurance policy’s death benefit. Your contingent beneficiary is who receives the death benefit if both you and your primary beneficiary die from the same accident. Check with your agent and your policy for details of the timing.

Question 3: Who should have life insurance?

Answer: Anyone who wants to provide financial assistance after death. The big three reasons are: 1. to pay off loans or a mortgage if I die, 2. to support my children’s education if I die and cannot provide an income stream, 3. to pay for funeral expenses, which average $8,700 in Wisconsin. The earlier you purchase life insurance, the lower your price will be. It can save to be proactive!

Contact a professional at Behnke Insurance for inquiries in Fond du Lac, Oshkosh, Waupun, Ripon and Sheboygan area.