Frequently Asked Questions About Life Insurance
Everything You Need to Know About Life Insurance in Plano, TX
Life insurance is one of the most important financial tools for securing your family’s future. Whether you’re exploring term life, whole life, or universal life insurance, the right policy can help cover final expenses, outstanding debts, lost income, and long-term financial goals.
At Doyle Assurance Group, we believe in educating our clients, not just selling policies. Below, we answer the most frequently asked questions about life insurance, coverage options, and policy benefits to help you make an informed decision.
Frequently Asked Questions About Life Insurance
What is life insurance, and why do I need it?
➡ Life insurance is a financial agreement that provides a lump sum payment to your beneficiaries when you pass away. This ensures financial protection for your loved ones and helps cover essential expenses.
✔ Protects your family from financial burdens
✔ Ensures major expenses like a mortgage, education, or medical bills are covered
✔ Provides peace of mind knowing your loved ones are secure
What are the different types of life insurance policies?
➡ Several types of life insurance exist, each designed for different financial needs:
✔ Term Life Insurance – Provides coverage for a fixed number of years (10, 20, or 30) at affordable rates.
✔ Whole Life Insurance – Offers lifelong coverage and builds cash value over time.
✔ Universal Life Insurance – A flexible policy that allows adjustments in premiums and coverage amounts.
✔ Final Expense Insurance – Specifically covers funeral and burial costs.
✔ Indexed Universal Life (IUL) – A mix of insurance and investment to help build long-term wealth.
Choosing the right policy depends on your financial goals and family needs. Doyle Assurance Group can help you make the best decision.
How do I determine the right amount of life insurance coverage?
➡ The amount of coverage you need depends on income, debts, and financial responsibilities. Consider:
✔ 5-10 times your annual income as a general guideline
✔ Major expenses like mortgage, college tuition, and outstanding loans
✔ Current savings and investments to avoid over-insuring
Doyle Assurance Group offers personalized consultations to help determine the best policy for you.
Can I qualify for life insurance if I have health conditions?
➡ Yes, many life insurance providers offer coverage for individuals with pre-existing health conditions.
✔ Diabetes, high blood pressure, and heart conditions are often insurable
✔ Guaranteed issue policies require no medical exams
✔ Some policies may have a waiting period before full benefits apply
Doyle Assurance Group works with multiple carriers to find the best policy for your health situation.
Does Medicare cover funeral expenses?
➡ No, Medicare does not cover funeral costs or provide funds for burial expenses.
✔ Social Security offers a one-time death benefit of $255
✔ Final expense insurance ensures your loved ones are financially secure
Can I change my life insurance policy after purchasing it?
➡ 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
How do I apply for life insurance with Doyle Assurance Group?
➡ Applying for life insurance is quick and simple with Doyle Assurance Group:
✔ Free consultation to determine the right coverage
✔ Fast approvals—some policies activate within 24 hours
Doyle Assurance Group makes it easy to secure the best life insurance coverage in Texas.
Can my life insurance policy be re-rated?
➡ Yes, some policies allow for re-evaluation based on improved health or lifestyle changes.
✔ If you quit smoking or lower your BMI, you may qualify for reduced premiums.
✔ Some policies allow rate adjustments after a specific period.
✔ Medical underwriting may be required for proof of improved health.
Doyle Assurance Group helps clients request policy reviews to secure the best rates.
Take the Next Step Toward Financial Security Today!
Choosing the right life insurance policy is one of the most important financial decisions you’ll ever make. Doyle Assurance Group is here to help you navigate your options and secure your future.
Contact Mark Doyle today for a free consultation on your life insurance options.