Frequently Asked Questions | Doyle Assurance Group

➡ The right coverage amount depends on factors such as:

✔ Your annual income and future earning potential
✔ Outstanding debts, including mortgage or student loans
✔ Family expenses, including childcare, education, and retirement planning

Most experts recommend coverage between 5 to 10 times your annual income to ensure financial stability for your loved ones.

➡ Life insurance premiums are determined by:

✔ Age and overall health at the time of application
✔ Lifestyle factors, including smoking and high-risk activities
✔ Coverage amount and policy type (term vs. whole life)

Applying while young and healthy ensures lower premium rates.

➡ While life insurance is often associated with family protection, it also offers:

✔ Coverage for end-of-life expenses and outstanding debts
✔ Cash value accumulation for future financial planning
✔ Protection for co-signers on loans or mortgages

Even if you don’t have dependents now, securing a policy early locks in lower rates for the future.

➡ If you stop paying your premiums:

✔ Term Life Insurance – The policy lapses, and coverage ends
✔ Whole Life Insurance – You may be able to use cash value to cover premiums
✔ Universal Life Insurance – Policy flexibility may allow for payment adjustments

It’s crucial to review policy lapse rules with your provider before missing payments.

➡ Yes! Many individuals combine policies to:

✔ Maximize coverage for different financial needs
✔ Supplement employer-provided life insurance plans
✔ Secure additional tax-free benefits for their heirs

Multiple policies allow greater flexibility in coverage planning.

➡ It depends on the insurer and policy type:

✔ Some policies require a medical exam and may adjust premiums accordingly
✔ Guaranteed issue policies offer coverage regardless of health but with higher costs
✔ Pre-existing conditions may result in waiting periods before full benefits apply

Working with an experienced insurance broker helps navigate the best options available.

➡ Life insurance provides a payout to beneficiaries, whereas mortgage protection insurance:

✔ Pays the lender directly to cover mortgage payments
✔ Ensures your home remains secure for your family
✔ Can be structured as a decreasing-term policy to match mortgage balance

Both options can complement one another for added financial security.

➡ Yes! Many life insurance policies allow updates to:

✔ Coverage amounts to meet changing financial needs
✔ Beneficiaries to reflect life events like marriage or childbirth
✔ Policy riders for additional benefits such as long-term care

Regular policy reviews ensure your coverage stays aligned with your goals.

➡ Doyle Assurance Group provides expert assistance by:

✔ Comparing top-rated life insurance providers to find the best policy
✔ Explaining coverage details so you make informed decisions
✔ Offering ongoing policy reviews to adjust coverage as needed

We help clients in Plano, TX, Dallas, and the DFW Metroplex find personalized life insurance solutions.